AWS Soars as Amazon Reports Record Growth

Amazon's latest earnings report shows its North America segment grew by 16% in the quarter, its fastest growth in five years. The e-commerce giant attributes this to faster delivery speeds and advertising growth of 26%. In addition to its core business, Amazon Web Services (AWS) reported a 37% revenue increase, surpassing estimates.

North America revenue rose to $116.2 billion, with international revenue up 15% to $42.2 billion. The company's shift of Prime Day from July to June helped boost e-commerce growth by roughly 500 basis points in the quarter. Same-day delivery of perishables is now available in 2,300 U.S. cities, and monthly active perishable customers have grown over 50% since the start of the year.

AWS's AI business and chip business both exceeded a $25 billion annual revenue run rate, growing triple digits year-over-year. This growth has contributed to Amazon's decision to spend $220 billion on capital expenditures this year.