Amazon Soars as Digital Sales Boost Margins

Shares of Amazon.com Inc rose 14 percent on Friday morning, after the world’s largest Internet retailer reported a surprise increase in gross margins, prompting a slew of price target increases by analysts.

Amazon shares rose $27.43 to $223.47 on Nasdaq, the morning after it posted better-than-expected quarterly results as heavy spending and new products like the Kindle Fire began to pay off with sales of more digital content on the tablet.

“The biggest surprise in the quarter was Amazon’s gross margin increase of 120 basis points year-over-year, the largest uptick in ten years,”

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