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Why Amazon Stock Rallied Friday Morning

TheMotleyFool

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Shares of Amazon (NASDAQ: AMZN) climbed higher on Friday, adding as much as 7.6%. As of 10:52 a.m. ET, the stock was still up 7.1%.

The catalyst that sent the e-commerce and cloud computing titan higher was bullish results that were far better than many investors expected.

CEO Andy Jassy has been working to rein in expenses at Amazon in recent years, and the fruit of those labors was front and center when the company reported its third-quarter results. Revenue of $158.9 billion climbed 11% year over year, while earnings per share (EPS) of $1.43 surged 52%.

Source Fool.com