Amazon’s stock jumped more than 12 percent yesterday after the company announced Q1 earnings of $29.1 billion (a 29 percent increase over last year’s revenue for the same period). The company’s $1.07 per share profit easily beat Wall Street expectations of 58 cents per share. AWS cloud computing increased 64 percent over last year, posting revenue of about $2.6 billion. According to Re/code, “The quarterly results mark the first time since 2012 that Amazon has turned a profit in four straight quarters — a scary proposition for competitors who can no longer say that Amazon is completely sacrificing profitability for growth.”