Amazon's AWS Growth Accelerates to $42B in Q2

Amazon's recent earnings report has sparked renewed interest in its cloud business, AWS. The unit's revenue rose 37% to $42.23 billion in the second quarter, marking its fastest growth in 18 quarters.

The company's backlog reached $496 billion, and management said most AWS capacity for 2027 is already reserved. Andy Jassy stated that AWS 'very possibly' becomes 'a trillion dollar annual revenue business for us in time.'

Amazon's operating income rose 43% to $27.46 billion on revenue growth of 19.6%. The company's advertising segment also performed well, with ad revenue growing 26% to $19.81 billion.