Amazon.com, Inc. (NASDAQ:AMZN) shares surged over 12% in Friday’s pre-market trading after the e-commerce and cloud-computing giant reported stronger-than-expected second-quarter results.
Amazon Beats Revenue and Earnings Estimates
Amazon reported second-quarter revenue of $200.61 billion, exceeding Wall Street’s consensus estimate of $196.46 billion. The company posted earnings of $5.75 per share, well above analysts’ expectations of $1.82 per share.
Amazon’s cloud division, Amazon Web Services, generated $42.2 billion in revenue, representing 36.7% year-over-year growth. The company said AWS recorded its fastest growth rate in 18 quarters.
Amazon also said its AI and custom-chip businesses had each surpassed annualized revenue run rates exceeding $25 billion, highlighting the growing commercial impact of its investments in artificial intelligence infrastructure.
