Amazon Stock Gains On Earnings Beat, Strong Cloud Growth

Amazon reported first-quarter earnings that surpassed expectations due to robust performance in its cloud-computing and advertising sectors. Despite a strong quarter, Amazon's stock saw only modest gains in after-hours trading, influenced by a sales forecast for the June quarter that did not meet analyst expectations.

The company announced significant year-over-year growth, with Amazon Web Services (AWS) reaching a $100 billion annual revenue run rate, highlighting a reacceleration in growth. However, the broader market's response was tempered by conservative guidance for the upcoming quarter's sales and operating income.