Amazon Shares Soar Over 11% Following Strong Earnings

Shares of Amazon jumped more than 11 percent in opening trading Friday after the online retailer reported strong results powered by surging demand for its cloud computing services. Profits jumped nearly 40 percent to $21.2 billion compared with the year-ago level. The rise in shares helped boost major indices early Friday after US stocks retreated the prior day partly due to disappointing results from Facebook parent Meta.