Amazon Stock Surges: Third-Quarter Earnings Exceed Expectations

Amazon shares surged in extended trading on Thursday after the company exceeded Wall Street’s third-quarter earnings estimates. This move was driven by strong performance in its cloud computing business and robust e-commerce sales.

Amazon’s Earnings Highlight Cloud Growth and E-commerce Success

Amazon Web Services (AWS) revenue increased 19% in the three-month period, setting a record for growth in the segment. This impressive performance extends AWS’s dominant position in the cloud market. Meanwhile, online stores revenue grew 7%, reflecting the tech giant’s resilience and ability to adapt to market conditions.

Investors Hoped for a Strong Holiday Quarter

In anticipation of an even stronger holiday season, Amazon expects higher sales due to improved shipping times and an expanded range of lower-priced items. These factors are highly encouraging, signaling continued growth and increased market share for the company in the upcoming peak shopping season.

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