Amazon shares rose by 6% on Friday after the company released its latest earnings report.

The results exceeded forecasts, driven by gains in cloud computing and advertising.

The stock, up 32% this year, briefly reached US$200.50 and closed at US$197.93.

Amazon’s quarterly revenue increased 11% to US$158.9 billion.

Recent Amazon developments

Timeline
01-Nov-2024 🤖 Amazon’s Alexa to become smarter with AI by 2025 Alexa’s core models are being revamped. Upgraded version delayed to 2025 with fees.
01-Nov-2024 📈 Amazon beats Q3 profit estimates, retail sales up 7% Amazon posts 7% sales rise to $61.41B Shares up 5.7% after positive earnings report
23-Oct-2024 📦 Amazon to end ‘Amazon Today’ delivery amid cost cuts Amazon ends same-day delivery by Dec 2 Employee layoffs part of cost-cutting strategy
18-Sep-2024 📦 Amazon appoints new India head Samir Kumar appointed head of Amazon India ops Amazon faces tough competition from Flipkart, Meesho
11-Jan-2024 📉 Amazon to slash hundreds of jobs at Prime Video, Studios

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