Amazon impressed – investors rejoice

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Amazon impressed – investors rejoice
Photo: Isaac Brekken/AP/TT

Amazon beat the high expectations for its market-leading cloud service AWS in its interim report. The stock rose almost 10 percent in early after-hours trading on the New York Stock Exchange.

Cloud service revenue increased by 20 percent compared to the same quarter last year.

Analysts had predicted an 18 percent increase.

The pace of Amazon's growth in the cloud services area, where the company supplies computing power to large parts of the internet, has recently lagged slightly compared to the other giants in the area: Microsoft and Google.

Regarding the company's overall turnover, the average forecast was $177.8 billion, equivalent to SEK 1,668 billion.

The result was $180 billion.

Earnings were reported at $1.95 per share, well above market expectations.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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