Amazon Stock Rallies After Q3 Earnings Beat, Fueled by AWS Cloud Growth

The article discusses Amazon’s strong third-quarter earnings report, which exceeded Wall Street’s expectations and led to a rally in the company’s stock price. Amazon’s cloud computing division, Amazon Web Services (AWS), played a significant role in driving the company’s revenue growth, with AWS revenue increasing by 27.5% year-over-year. The article highlights that AWS continues to be a major growth engine for Amazon, contributing to its overall profitability. Additionally, the company’s e-commerce business saw a rebound in sales, with online store revenue increasing by 7% compared to the previous year. The article also mentions that Amazon’s advertising business experienced strong growth, with ad revenue rising by 25% year-over-year. Overall, the article portrays Amazon’s Q3 earnings as a positive sign for the company’s future prospects, particularly in the cloud computing and e-commerce sectors.

Source: https://markets.businessinsider.com/news/stocks/amazon-stock-price-q3-earnings-beat-rally-tech-aws-cloud-2024-11