The broader market was also supportive, with Nasdaq futures rising 1.06% and S&P 500 futures gaining 0.47%.Amazon reported second-quarter revenue of $200.61 billion and earnings of $5.75 per share, beating Wall Street estimates of $196.46 billion and $1.82 per share, respectively.Amazon Web Services (AWS) revenue increased 37% year over year to $42.2 billion, marking its fastest growth in 18 quarters. Management also said its AI and custom chips businesses each surpassed annualized revenue run rates of $25 billion.Analyst Sees AWS BreakoutEvercore ISI analyst Mark Mahaney told CNBC the results delivered the AWS acceleration investors had been waiting for, calling the quarter “the breakout that the stock needed.”Mahaney said AWS achieved its strongest growth in 18 quarters while operating margin expanded to 39%, showing that revenue growth and profitability are improving together. He added that stronger AWS performance could ease investor concerns about Amazon’s heavy artificial intelligence spending by demonstrating better returns on those investments.The analyst also said Amazon’s third-quarter revenue guidance appeared softer mainly because Prime Day shifted into the second quarter, rather than due to weaker consumer demand.The stock carries a Buy consensus rating with an average analyst price forecast of $321.69. Recent analyst actions include: