Breaking News: Amazon (AMZN) Stock Surges Amidst Positive Earnings Report

Key Points:

• AMZN stock price jumped over 10% in after-hours trading.

• The company reported strong quarterly earnings, beating analyst expectations.

• Positive guidance for the next quarter further fueled the stock's rise.

Seattle, WA - March 8, 2023: Amazon.com, Inc. (AMZN) released its highly anticipated quarterly earnings report after the market closed, sending its stock price soaring in after-hours trading. Shares jumped over 10%, reaching a high of $123.45 per share, driven by strong earnings and an optimistic outlook for the coming quarter.

The e-commerce giant reported quarterly earnings per share of $4.33, significantly exceeding analysts' estimates of $4.04. Revenue for the quarter also surpassed expectations, reaching $149.2 billion compared to the projected $145.4 billion. Notably, Amazon's AWS (Amazon Web Services) segment continued to be a strong revenue driver, with its revenue growing by 29% year-over-year.

Adding further momentum to the stock's surge, Amazon also provided positive guidance for the next quarter. The company expects revenue between $152 billion and $157 billion, which would represent a 13% to 19% year-over-year growth. Operating income is anticipated to range from $6.5 billion to $8.5 billion.

Analysts and investors alike have expressed optimism regarding Amazon's performance and future prospects. The company's continued dominance in e-commerce, coupled with the rapid growth of AWS, has instilled confidence in its ability to maintain its leadership position in the tech sector.

As of the time of this article's publication, AMZN stock is trading at $122.65 per share in after-hours trading, indicating a continued upward trend. Investors are advised to monitor the stock's performance closely as additional updates and market analysis emerge.