From Seattle's own, GeekWire, July 31:
Amazon beat estimates for its second quarter earnings with $167.7 billion in revenue, up 13% year-over-year, and earnings per share of $1.68, up from $1.26 in the year-ago period.
Wall Street expected $162.1 billion in revenue, and earnings per share of $1.33.
Despite topping expectations, Amazon shares were down more than 3% in after-hours trading.
The results provide a snapshot of Amazon’s business as the company invests heavily in its cloud computing business to fuel AI-related efforts and navigates economic headwinds within its retail division.
Amazon Web Services reported $30.8 billion in revenue for Q2, up 17% year-over-year — in line with analyst estimates.
- The company makes most of its operating profits from AWS — about $10.1 billion in the second quarter, more than half Amazon’s total operating income of $19.2 billion.
- Google and Microsoft also reported strong results for their respective cloud units this month.
- Amazon said earlier this year it expects to increase capital expenditures to more than $100 billion in 2025, up from $83 billion in 2024, with a majority going toward building out capacity for AI in AWS.
Online store sales totaled $61.4 billion, up 11%....
....MUCH MORE
The market is not liking it in very early after-hours trade, down $6.82 (2.91%) after trading $3.92 higher during the regular session.
Earlier at GeekWire (July 30) - Amazon Q2 earnings preview: AI bets, cloud growth, and tariff changes in the spotlight
More to come.
