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Amazon shares soar after the company reports profit and revenue that blow past analysts' expectations.

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STORY: Amazon.com Inc on Thursday (April 28) reported profit and revenue that blew past analysts' expectations, sending its shares soaring in after-hours trading and demonstrating the growing market power of its core retail business and new cloud services division.

The results are a sharp contrast to the disappointing fourth quarter Amazon reported in January, which renewed worries among some shareholders about the company's comparatively thin profit margins. Shares of the world's biggest online retailer jumped nearly 13 percent to $679 in extended trading on Thursday.

Amazon's performance also assuaged concerns about a broader slowdown among tech and internet companies after Apple, Microsoft, and Intel all reported disappointing earnings.

While Amazon displayed impressive growth for a company its size - revenues rose 28.2 percent to $29.13 billion - its Amazon Web Services cloud computing division was the highlight with revenues climbing 64 percent to $2.56 billion while operating income more than tripled to $604 million.