Amazon stock soars 9% on ‘booming’ cloud growth, revenue beat

Amazon reported second-quarter results that exceeded Wall Street expectations, driving the stock higher in extended trading. Revenue in the company’s cloud segment, known as AWS, expanded 37% year over year, outpacing analyst forecasts for 31% growth and marking the unit’s fastest expansion since 2021, according to CEO Andy Jassy.
The cloud performance drew particular attention as investors monitored Amazon’s competitive position against larger rivals in the space. Alphabet&rs