Amazon Stock Climbs After a Big Earnings Beat. Spending Is Up Too.

Amazon Stock Climbs After a Big Earnings Beat. Spending Is Up Too. · Barrons.com

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Amazon.com stock popped in late trading Thursday after the online retail giant reported third-quarter earnings that beat Wall Street estimates. Revenue for Amazon Web Services, the company’s cloud computing platform, increased 19% to $27.5 billion. Meanwhile, online stores revenue of $61.4 billion increased from last year’s $57.3 billion and was above analyst expectations for $59.7 billion.