Market Movers rounded up the best reactions to Amazon from investors and analysts. The pros discussed the e-commerce giant after second-quarter revenue and earnings both topped analysts’ estimates. Amazon stock jumped 8.3% Friday. After the closing bell Thursday, Amazon reported earnings of 65 cents per share and revenue of $134.4 billion . Refinitiv’s estimates called for 35 cents per share and $131.5 billion in revenue. The Seattle-based company’s profit beat was its largest since the fourth quarter of 2020. Amazon’s AWS cloud revenue surged 12% to $22.1 billion and advertising revenue also beat expectations, coming in at $10.7 billion. CEO Andy Jassy claimed Amazon had its “biggest ever” Prime Day sales event with online spending hitting $12.7 billion over the 48-hour period. In reaction, investment firm Rosenblatt upgraded its rating opinion on the stock to buy from neutral. Amazon is currently held in Jim Cramer ‘s Charitable Trust Portfolio.
This story originally appeared on CNBC
