Amazon stock surges about 8% at peak, sets fresh intraday record

Shares of Inc.
AMZN, +3.60%
set an intraday record at the open Friday, coming after the online services giant produced better-than-expected results. Late Thursday, Amazon reported net income of $1.6 billion, or $3.27 a share, up from $724 million, or $1.48 a share, a year ago. Revenue jumped 43% from last year, to $51 billion from $35.7 billion. Shares of set an intraday record at 1,638.10, coming near the start of trade Friday, but were off the mark which would represent a closing high above $1,598.39, set on March 12. Shares were recently up 4.5% at around $1,585. So far this year, Amazon’s shares have climbed 36%, according to FactSet data. By comparison, the Dow Jones Industrial Average
DJIA, -0.05%
is down 1.7% for the first four months of 2018, the S&P 500 index
SPX, +0.11%
has declined by 0.1%, while the technology-laden Nasdaq Composite Index
COMP, +0.02%
has gained 3.5% thus far this year.