Amazon shares surged after second-quarter financial results exceeded analyst expectations.
Quarterly revenue reached $201.5 billion. This figure surpassed the $196.7 billion consensus estimate. Earnings per share hit $2.05. This result beat the projected $1.82.
Amazon Web Services (AWS) revenue grew 33% year-over-year. The cloud division generated $41.1 billion in revenue. This performance outpaced analyst forecasts of 31% growth.
The results signaled robust demand for artificial intelligence services. Strong cloud performance eased investor concerns regarding heavy capital expenditures in AI infrastructure. Amazon’s results contrasted with a market sell-off recently triggered by Meta’s spending plans.