Amazon.com Inc. (NASDAQ:AMZN) stock jumped about 12% in Friday’s premarket session after the company reported stronger-than-expected second-quarter results and robust growth in its cloud business. Amazon reported second-quarter revenue of $200.61 billion and earnings of $5.75 per share, beating Wall Street estimates of $196.46 billion and $1.82 per share, respectively. Amazon Web Services (AWS) revenue increased 37% year over year to $42.2 billion, marking its fastest growth in 18 quarters. Management also said its AI and custom chips businesses each surpassed annualized revenue run rates of $25 billion. Evercore ISI analyst Mark Mahaney told CNBC the results delivered the AWS acceleration investors had been waiting for, calling the quarter “the breakout that the stock needed.” Mahaney said AWS achieved its strongest growth in 18 quarters while operating margin expanded to 39%, showing that revenue growth and profitability are improving together. He added that stronger AWS performance could ease investor concerns about Amazon’s heavy artificial intelligence spending. The analyst also said Amazon’s third-quarter revenue guidance appeared softer mainly because Prime Day shifted into the second quarter. The stock carries a Buy consensus rating with an average analyst price forecast of $321.69. Amazon remains in a long-term uptrend, trading about 9.9% above its 20-day simple moving average of $242.41 and 13.5% above its 200-day