Amazon shares jump after Q3 earnings beat [Video]

Amazon shares jumped 6% on Friday after the company reported better-than-expected earnings, driven by growth in its cloud computing and advertising businesses.

The stock is up about 32% for the year. Shares briefly touched $200.50 on Friday, putting them near an all-time high. Its highest close was $200, a mark the stock hit twice in July. The stock closed at $197.93 on Friday.

Revenue increased 11% in the quarter to $158.9 billion, topping the $157.2 billion estimate of analysts surveyed by LSEG. Earnings of $1.43 topped the average analyst estimate of $1.14.

Sales in the Amazon Web Services cloud business increased 19% to $27.4 billion, coming in just shy of analysts’ estimates, according to StreetAccount. That was an acceleration from 12% a year ago, but trailed the rate of growth at rivals Microsoft and Google, where cloud revenue increased 33% and 35%, respectively. Microsoft’s Azure number includes other cloud services.

Amazon’s capital …