Why Amazon Stock Was Climbing on Friday
Shares of Amazon (NASDAQ: AMZN) were up 8% as of 10:08 a.m. ET on Friday following a better-than-expected business update.
Amazon's online stores and cloud business are showing improving revenue trends after slower growth hit the company in 2022. Overall, sales were up 13% year over year to $143 billion, while Amazon's operating profit jumped to $11.2 billion, up from $2.5 billion in the year-ago quarter.
Amazon's online stores grew 6% year over year, representing the third consecutive quarter of accelerating growth. The e-commerce leader is benefiting from investments to speed up delivery and gain more efficiency by moving to a single national fulfillment network.
Source Fool.com
