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Amazon Stock Jumps on Strong Growth for AWS

Amazon Stock Jumps on Strong Growth for AWS

Amazon com posted better-than-expected first-quarter financial results, driven by strong growth in the company’s AWS cloud computing business and impressive advertising demand. Microsoft and Alphabet last week posted better-than-expected growth in their cloud computing businesses, each beating Wall Street’s estimates by several percentage points. Amazon Web Services revenue was $25 billion, up 17%, about two percentage points better than Street estimates, and the best growth in four quarters.