Amazon (AMZN) is surging Friday because it finally let investors see big earnings. The stock is up 15% on the day as of 1pm. Amazon Web Services, the company’s cloud computing business that’s supposed to be in a “race to zero“, is racing the other way instead. It’s making money, even in the competition-heavy cloud sector.
Speaking of cloud computing, last year Microsoft selected its cloud computing chief Satya Nadella to run the entire company. Today the stock market is showing its love for Nadella’s vision and Microsoft’s execution. (Positive notes for Microsoft include commercial cloud revenue up 106% and even much-maligned search advertising revenue up 21% over last year.) Microsoft shares were up 10% by Wall Street lunchtime on Friday. Google’s shares were up 3% too. All blue skies for cloud computing.