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.

The tech and online retail behemoth posted a 20% year-on-year jump in revenue from its closely watched cloud unit, Amazon Web Services (AWS), which rose 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.

Looking at the other segments, the revenue from online...