CEO Andy Jassy Just Gave 5 Key Reasons Why Amazon Stock Could Continue to Soar
Anyone who thought that the joyride Amazon (NASDAQ: AMZN) has given investors this year was over might be changing their minds now. The e-commerce and cloud services giant's shares popped close to 8% higher on Friday. This big gain came after Amazon reported better-than-expected third-quarter earnings results following the market close on Thursday.
And that joyride could last a lot longer. In Amazon's Q3 conference call, CEO Andy Jassy mentioned five key reasons why his company's stock could continue to soar.
Amazon Web Services (AWS) revenue jumped 12% year over year in Q3 to $23.1 billion. Sure, that growth rate wasn't as strong as what Microsoft and posted for their cloud units. However, Jassy noted AWS' $919 million in incremental sequential revenue "looks like the most absolute growth of any of the players out there."
Source Fool.com
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