Amazon Stock Price Drops After Record-Breaking Q2 Revenue

Amazon's stock price has taken a hit after reaching an all-time high of $287.20 on August 3, falling to $265.13 and down 7.7% from its previous record.

The company posted a record-breaking Q2 revenue of $200.6 billion, up 20% year over year, with operating income growing 43% to $27.5 billion.

AWS, Amazon's cloud computing segment, delivered its best quarter since 2021, with revenue reaching $42.2 billion and a growth rate of 36.7%, exceeding consensus estimates by six percentage points.