Stocks
Amazon Stock Soars 15.29% on Crushing Q2 Earnings, AI Dominance
Amazon's stock price jumped by 15.29% after its second-quarter earnings crushed expectations, fueled by accelerating AI and cloud dominance.
The company reported a 20% year-over-year increase in net sales to $200.6B, with operating income up 43% to $27.5B. AWS growth accelerated to 37%, reaching a $169B run-rate, while Amazon Business hit a $60B annualized gross sales run-rate.
The key driver behind AMZN's success is its AI services and custom chips businesses, which are now running above $25B each in annualized revenue. The company also disclosed a massive $496B AWS order backlog, giving traders a clear line of sight to multi-year demand.