Amazon posts record $200.6 billion Q2 revenue, shares jump

Amazon reported record quarterly revenue exceeding $200 billion for the first time, driven by surging demand for its cloud and artificial intelligence services, sending its shares sharply higher in after-hours trading on Thursday, July 30.

The company posted second-quarter net sales of $200.6 billion, a 20% increase from the same period last year and ahead of analyst expectations. Its profit more than tripled to $62.6 billion, or $5.75 per diluted share, significantly boosted by a $53.4 billion pretax gain from its investment in the AI firm Anthropic.

The standout performance came from Amazon Web Services (AWS), the company's cloud computing division. AWS revenue jumped 37% year-over-year to $42.2 billion, marking its fastest growth rate in over four years and easily surpassing Wall Street forecasts. The unit's operating income rose to $16.6 billion. Company President and CEO Andy Jassy stated that AWS is booming and that both its AI and custom chip businesses have each eclipsed annual revenue run rates exceeding $25 billion.

Advertising services also delivered strong results, with revenue growing 26% to $19.8 billion. The company highlighted the success of its live sports...