Amazon Forecasts Bright 3rd Quarter on Resilient Cloud Sales, Shopping Trends

Amazon Forecasts Bright 3rd Quarter on Resilient Cloud Sales, Shopping Trends
The logo of online store Amazon is displayed on a tablet in Lille, France, on Aug. 28, 2019. Denis Charlet/AFP via Getty Images
Reuters
Updated:
0:00

Amazon.com Inc on Thursday reported sales growth and profit that beat Wall Street’s expectations as the company delivered goods faster and more cheaply to shoppers while recent cloud-computing headwinds began to subside.

Amazon’s shares surged 9 percent on the news, extending its stock market value more than $120 billion in after-hours trading.