Amazon Stock Gains On Earnings Beat, Strong Cloud Growth

City AM

Amazon's stock surges on strong earnings, fuelled by AI-driven cloud growth

Amazon.com defied Wall Street’s projections in its quarterly report, riding high on the wave of interest in artificial intelligence that fuelled growth in its cloud-computing division. This stellar performance catapulted the retail giant’s shares by up to 5 per cent in after-hours trading.  The company’s net sales surged 13 per cent year-over-year to $143.3 billion, surpassing analyst forecasts. Net income followed suit, more than tripling to $1…