Amazon reported better-than-expected earnings and revenue for the third quarter, driven by growth in cloud computing and advertising businesses. The stock traded higher in extended trading.

Here are the results.

• Income: $1.43 versus $1.14 per share expected by LSEG
• Gain: $158.88 billion versus $157.2 billion expected by LSEG

Wall Street also looks at several other numbers in the report:

• Amazon Web Services: $27.4 billion versus $27.5 billion expected, according to StreetAccount
• Advertisement: $14.3 billion versus $14.3 billion expected, according to StreetAccount

In cloud, Amazon Web Services revenue was in line with consensus estimates and growing faster than the same period last year. Revenue grew 19% this quarter compared to a year ago, when revenue grew just 12%. The company faced slowing growth in its cloud business last year as customers cut budgets amid increased economic concerns.

AWS is still growing slower than its biggest challengers. Revenue from Azure and other cloud services at Microsoft was 33%, and Alphabet’s Google Cloud revenue rose by almost 35%.

Advertising was another bright spot in the report. Revenue in this division grew 19% year over year to $14.3 billion during the quarter, surpassing growth in Amazon’s core businesses.

Among online advertising companies, Amazon showed the strongest growth, although its advertising business is still a fraction of the size of major companies Meta and Google. Meta’s ad revenue grew 18.7% year over year, while Google’s ad business grew 15% in the quarter. Snap‘s turnover increased by 15% compared to a year earlier.

Amazon expects current quarter revenue to be between $181.5 billion and $188.5 billion, which would represent 7% to 11% year-over-year growth. The midpoint of that range, $185 billion, fell short of the average analyst estimate of $186.2 billion, according to LSEG.

Operating income grew 56% year over year to $17.4 billion in the third quarter, demonstrating that Amazon’s focus on efficiency and continued cost savings continues to improve operating income. Amazon CEO Andy Jassy has been laser-focused on cutting costs across the company, cutting more than 27,000 jobs since the start of 2022. Amazon has continued to restructure its teams this year.

Amazon and Applewhich also reports quarterly results on Thursday, rounding out a busy earnings week for the top tech companies. Alphabet reported better-than-expected results Tuesday, driven by cloud growth. Microsoft issued disappointing guidance on Wednesday, leading to the stock’s steepest sell-off in two years Meta beat expectations but warned of a significant acceleration in infrastructure spending next year.

This story is developing. Check back for updates.