New Delhi, Oct. 31 -- Amazon came under the bull's eye in Friday's session, October 31, with the stock soaring 12.4% to a record high of $250 apiece on the Nasdaq, following a strong September-quarter earnings beat driven by robust growth in its cloud and advertising businesses.

Revenue from its closely watched cloud unit, Amazon Web Services (AWS), jumped 20% year-on-year to $33 billion, surpassing analysts' estimates of $32.5 billion, as customers continued to spend on AI-related workloads.

Advertising services also remained a key growth driver, generating $17.7 billion during the quarter-well ahead of market expectations.

Overall, Amazon's total revenue rose 12% year-on-year to $180.2 billion in Q3, contributing to a 10.87% increase...