Proactive Investors - Amazon.com Inc (NASDAQ:AMZN) shares were lifted after hours, following the technology giant's strong post-close second-quarter results.
Revenue rose 11% year over year to $134.4 billion, Amazon reported after Thursday’s close, surpassing the $131.5 billion consensus compiled by Refinitiv.
The ecommerce giant also recorded earnings for the period of $0.65 per share, easily beating the consensus forecast of $0.35.
As well, Amazon’s AWS segment sales increased by a better-than-expected 12% year over year to $22.1 billion.
“Our AWS growth stabilized as customers started shifting from cost optimization to new workload deployment, and AWS has continued to add to its meaningful leadership position in the cloud with a slew of generative AI releases that make it much easier and more cost-effective for companies to train and run models (Trainium and Inferentia chips), customize Large Language Models to build generative AI applications and agents (Bedrock), and write code much more efficiently with CodeWhisperer," Amazon CEO Andy Jassy said in a statement.
Jassy added that the company continues to see “strong demand” for its advertising services.
Meanwhile, Amazon’s operating margin for the quarter came in at 5.7%, which exceeded the 3.46% expected.
Looking ahead, the company sees 3Q net sales of $138 billion to $143 billion versus the $138.3 billion forecast.
Amazon shares jumped almost 9% to $140.17 in Thursday’s after-hours session following the update.