Amazon Reports Strong Q2 Results, Shares Rise in Pre-Market Trading
Amazon reported second-quarter revenue of $200.61 billion, surpassing expectations by over $4 billion and earning $5.75 per share compared to the expected $1.82. The company's cloud division, AWS, saw significant growth with annualized revenue exceeding $42.2 billion and a 36.7% year-over-year increase. Analyst Chris Ballard highlighted that Amazon is now monetizing its AI investments rather than just investing for future gains. Additionally, the advertising business grew by 26%, contributing to an overall operating income of $27.5 billion, up from previous quarters.
Tickers: $AMZN
Topics: AI monetization Amazon AWS revenue growth stock surge