Amazon Surges After Jassy Spurs Sales Growth, Reins in Costs
- Company gives a revenue forecast topping analysts’ estimates
- CFO sees stable growth in profitable cloud-computing business
This article is for subscribers only.
Amazon.com Inc. Chief Executive Officer Andy Jassy pulled off a financial double play this earnings season: generating strong revenue growth from the core e-commerce business while cutting the pace of spending.
The results sent shares up 8.3% to $139.57 at the close Friday, the best single-day performance since November and the highest price for the stock in almost a year.