Amazon shares jump after Q3 earnings beat [Video]

Amazon shares jumped 7% on Friday and neared an all-time high 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 and touched $200.50 on Friday. Its highest close was $200, a mark the stock hit twice in July.

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 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 expenditures surged 81% year over year to $22.62 billion, as the company …