Why Amazon Stock Jumped Today
Amazon (NASDAQ: AMZN) stock gained ground in Wednesday's trading. The company's share price ended the daily session up 2.3%, according to data from S&P Global Market Intelligence.
Amazon published its first-quarter results after the market closed yesterday, reporting sales and earnings for the period that beat the average analyst estimate. The e-commerce and cloud-computing giant reported earnings per share of $0.98 on sales of $143.3 billion. For comparison, the average analyst estimate had called for the business to post per-share earnings of $0.83 on revenue of $142.55 billion.
Amazon's revenue climbed 12.5% year over year in the first quarter. The company's North America segment saw an increase of 12% year over year to reach $86.3 billion. Meanwhile, sales for Amazon Web Services (AWS) rose 25% year over year to $25 billion, and international segment sales increased 10% year over year to hit $31.9 billion.
Source Fool.com
