Amazon (NASDAQ: AMZN) stock was climbing today after the tech giant topped estimates in its first-quarter earnings report. Once again, the "Magnificent Seven" stock delivered huge expansion in margins as it benefited from the growth of higher-margin businesses and recent cost cuts after laying off nearly 30,000 employees.

Amazon stock was up 2% as of 1:55 p.m. ET after gaining as much as 4.1% earlier in the session.

Image source: Amazon.

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Source Fool.com