Why You Can Trust CNET Amazon (briefly) tops $1 trillion in market cap
The company's market cap hit $1 trillion on Friday, before dipping back down slightly.
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Amazon just reported better-than-expected earnings and sales for the holiday quarter.
Amazon was once again in the $1 trillion club, though just for a short while. The online retail giant's market capitalization topped $1 trillion Friday, opening at $2,051.47 a share after reporting strong earnings on Thursday. Shares lost some of their momentum throughout the day, closing at $2,008.72, which puts the company's market cap at around $995 billion.
Amazon's stock surged in after-hours trading Thursday after the company reported better-than-expected earnings and sales for the holiday quarter. Amazon also revealed it now has over 150 million paid Prime members globally. The $119-a-year Prime membership program, which started in 2005, includes grocery deliveries in the US, a streaming video library and other perks. Plus, the company is shifting its Amazon Prime shipping program, it's most popular feature, from two days to just one in the US.
Amazon joins tech giants Apple, Microsoft and Google in reaching the financial milestone. Amazon also briefly reached the $1 trillion threshold in September 2018.
Amazon declined to comment.