Amazon Surges 15.3% as Q2 Earnings Exceed Expectations

Amazon's stock surged 15.3% on August 1, 2026, following its Q2 earnings release on July 30. The company reported a record quarter with net sales topping $200 billion for the first time.

The strong operational metrics were driven by AWS revenue growth accelerating to 37% year-over-year, the fastest pace in 18 quarters. Advertising revenue also contributed substantially, rising 26%, reflecting Amazon's expanding role as a digital advertising platform.

However, net income of $62.6 billion included a $53.4 billion non-operating gain from the mark-to-market valuation of its Anthropic investment, which analysts caution is not reflective of core operating performance.

The market's reaction suggests investors are rewarding companies aggressively investing in AI infrastructure and cloud services, while discounting those facing supply chain headwinds and conservative AI strategies.