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Amazon tops Wall Street targets, lifted by cloud revenue Jul 28, 2016
 

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York CityThe Seattle-based company is riding a wave of retail sales moving to the internet, and its Netflix-like video streaming is bringing new customers to its subscription Prime service, which in turn drives customers to spend more on Amazon. The cloud unit, Amazon Web Services, is the company's fastest-growing business and is regarded by analysts as the next driver of growth for the company. "They crushed estimates," said Michael Pachter, analyst at Wedbush Securities, as shares rose 2 percent after hours, in line to open on Friday at a record high.


 
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