Amazon shares hit record $288 on better- than-expected fourth-quarter profit -

Amazon Ebook Sales Grew By 70% In 2012

as reported in the New York Post: 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.