In after-hours trading the stock is up $18.37 (+7.80%) at $253.87.
From Yahoo Finance, July 30:
Amazon (AMZN) reported its second quarter results after the bell on Thursday, beating expectations on the top and bottom lines, as its AWS AI and chip units both surpassed annual run rates of $25 billion.
Amazon stock jumped more than 9% following the news.
"AWS is booming, growing 36.7% year-over-year in Q2—our fastest growth in 18 quarters—and our AI and Chips businesses each eclipsed run rates of more than $25 billion," Amazon CEO Andy Jassy said in a statement....
....MUCH MORE
The negative we will see tomorrow, pointed out in the Yahoo story, is the company is spending all their cash flow rather than returning it to shareholders.
As our earlier GeekWire link, "Ahead Of Today's Amazon Report GeekWire Looks At The Behemoth (AMZN)", quoted:
“We’re not investing approximately $200 billion in capex in 2026 on a hunch,” CEO Andy Jassy wrote in his April shareholder letter.
The GeekWire article had the Bezos story at Fortune as a sidebar:
Jeff Bezos says this business is becoming Amazon’s next ‘pillar’
Amazon’s next pillar could be built on a foundation of silicon.
In a new interview with Fortune, Amazon founder and Executive Chair Jeff Bezos says the company’s custom chip business is on track to become one of Amazon’s most durable businesses, placing it alongside Marketplace, Prime, and Amazon Web Services as a core pillar of the company.
“A few of our offerings have become durable pillars, things like Marketplace and Prime and AWS,” Bezos told Fortune. “What I see right now is that our chips business, our silicon business, is lining up to be our next pillar.”....
....MUCH MORE, including links to the Fortune article.
