Amazon is now worth more than Wal-Mart

Jul 24, 2015

Amazon’s market cap jumps nearly $40 billion to $264 billion, above Wal-Mart’s $233.5 billion.

Amazon.com Inc.’s market valuation soared more than $40 billion in after-hours trade Thursday, to take it well above that of Wal-Mart Stores Inc.

The e-commerce giant’s stock AMZN, -1.25%  rocketed $80.82, or 17%, to $563.00. about an hour after the close, after the company reported a surprise second-quarter profit. With about 465.68 million shares outstanding, according to FactSet, the stock’s surge would boost Amazon’s market capitalization by $37.64 billion to $262.18 billion.

Read more: MarketWatch