Tech firms that show cost control is key reap gains
Google gains 16% after releasing better-than-expected results; Amazon surges after posting surprise profit
New York
INVESTORS have started to reward Internet companies that can show both financial discipline and a path to long-term growth, making Amazon.com Inc and Google Inc the clear winners of the technology earnings season.
Google kept costs in check in the second quarter, and shareholders cheered with a 16 per cent stock gain after the search giant released better-than-expected results. Amazon also surged after posting a surprise profit, demonstrating that the Web retailer is capable of making money when it puts a brake on spending.
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