Business

Amazon’s hit record

Amazon.com shares hit a new record yesterday after it reported better-than-expected quarterly profit, fueled by the growth of higher-margin businesses during the fiercely competitive holiday quarter.

The world’s largest Internet retailer said that its cloud-computing services, video content sales and aggressive expansion in e-books helped increase profitability.

Chief Executive Jeff Bezos highlighted the Kindle’s e-book business, calling it a multibillion-dollar category that grew about 70 percent in 2012. Its traditional physical book business rose about 5 percent in the same period, he noted.

The Seattle-based company said operating income jumped 56 percent to $405 million in the fourth quarter, compared with $260 million in the fourth quarter of 2011.

Amazon’s stock climbed as much as 11 percent to $288 in after-hours trading. It hit a record of $284.72 on Jan. 25.