Amazon bucks recession, posts 9% profit gain (AMZN)

Amazon has posted a 9% increase in income for the forth quarter, bucking the recession.

Amazon (AMZN) net income in the fourth quarter rose to $225 million, or 52 cents per share, up from $207 million, or 48 cents per share for the same quarter last year, off the back of revenue of $6.7 billion.

The market had been expecting a drop to 39 cents per share.

Shares in AMZN rose 13.3% in aftermarket trading, up $6.65 to $56.65 a share.