Amazon Stock Soars on Strong Q2 Results: AWS Growth Leads the Way

Amazon's stock price jumped 14% in July, outperforming the flat S&P 500 index and declining Nasdaq Composite.

The tech giant reported strong second-quarter results on July 31, with revenue of $200.6 billion, up 20% year-over-year, beating Wall Street's consensus estimate.

Net income was $62.6 billion, or $5.75 per share, a 242% increase from the previous year.

AWS, Amazon's cloud computing services business, saw sales grow 37% to $42.2 billion, driven by strong demand for AI capabilities.