Amazon Stock Hits Near Recent Highs on Strong AWS Growth

Amazon's stock price has reached near recent highs after its second-quarter performance. The company's AWS revenue grew 37% to $42.2 billion, while total revenue hit $200.6 billion.

The strong showing by Amazon Web Services (AWS) drove the company's margins, with the business unit delivering operating income of $16.6 billion in the quarter. This underscores the importance of AWS for Amazon's overall profitability.

AWS now accounts for more than one-fifth of the company's sales and carries significantly higher margins than its retail and advertising activities.