Amazon Stock Jumps as Cloud Growth Fuels Blowout Quarter

Amazon beat expectations for the first quarter and the Dow Jones stock is soaring. Here's what you need to know.

amazon prime logo
(Image credit: Getty Images)

Amazon.com (AMZN) stock is up nearly 4% out of the gate Wednesday after the e-commerce giant disclosed higher-than-expected earnings and revenue for its first quarter.

In the three months ended March 31, Amazon's revenue increased 12.5% from the year-ago period to $143.3 billion and its earnings per share (EPS) more than tripled to 98 cents.

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.