Amazon, Inc. AMZN shares climbed about 7% in premarket trading on Friday as traders bid up the stock following the release of its third-quarter results. The results have left CNBC Mad Money host Jim Cramer impressed.
“Amazon call was unreal…,” said Cramer in a post on X, formerly Twitter. Amazon’s Andy Jassy said on the earnings call that the pace and volume of AWS deals are picking up.
The company signed more deals in the month of September that were not reflected in third-quarter results. “The collection of which is higher than our total reported deal volume for all of Q3,” he added.
In the third quarter, Amazon’s AWS ringed in revenue of $23.1 billion, roughly in line with estimates.
Among the other Cloud titans, Alphabet, Inc. GOOGL GOOG reported below-consensus Cloud growth, while Microsoft Corp.’s MSFT Cloud revenue growth accelerated after the deceleration seen in the past two years.
In a separate post, Cramer said, “love the way the Amazon q came together.” “For the record, while Microsoft is doing an amazing job with Azure, it is AWS that, from the absolute numbers, is taking share…,” he added.
The stock picker cautioned that rising bond yields curb optimism toward Amazon’s stock in Friday’s session. “Bond rally needed if Amazon — or pretty much any stock — is going to gain points like it would have in the old days,” he said.
In premarket, Amazon stock rose 6.62% to $127.49, according to Benzinga Pro data.
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