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Amazon's quarter wows Wall Street

Amazon boxes

With sales up 43 percent and earnings per share nearly tripling analyst estimates, Amazon.com released quarterly results today that sent its stock soaring after hours.

In addition, the company announced a 20% price increase in its annual Amazon Prime fee, from $99 to $119, beginning May 11.

Why it matters: Amazon spent years plowing profits back into its business, telling investors it was strictly a long-term play. That long term may finally have arrived.