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Amazon Shows It Can Generate Sales While Slowing Spending

  • E-commerce giant leans on strength of cloud computing division
  • Company begins to rein in hiring with focus on cutting costs
Bloomberg business news
Amazon Tops Estimates, Gives Strong Sales Forecast
Updated on Inc. showed its e-commerce and cloud-computing businesses can churn out revenue even as consumers worry about inflation and the company gets serious about curtailing expenses. Investors sent shares up more than 12% in pre-market trading on Friday.

Amazon reported second-quarter sales Thursday that topped analysts’ estimates and gave a revenue forecast for as much as 17% growth in the current period.