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Amazon's Earnings Miss, but Nothing Can Stop AWS

While Amazon (AMZN) is down after hours on an earnings miss, the company's cloud computing business lived up to forecasts and extended its lead over Microsoft Corp. (MSFT) Azure and Alphabet Inc. (GOOGL) Google Cloud Platform.

Jeff Bezos said in a press release that Amazon Web Services introduced more than 400 new features and services in recent months, as second-quarter sales for the cloud business rose 42% to $4.1 billion.

Shares of Inc. dropped 3.2% to $1012.49 after hours, because earnings of 40 cents per share came in well below forecasts of $1.42 per...