Amazon Posts Q2 Figures: Revenue Up 11% YoY To $134.4 Billion, Beating Estimates

Amazon.com Inc (NASDAQ: AMZN) turned in second-quarter financial results after the market closed Thursday. Shares appear to be moving higher on earnings numbers well above estimates and strong guidance.

Here’s a look at what the e-commerce giant reported for the second quarter: 

Amazon said second-quarter revenue increased 11% year-over-year to $134.4 billion, which beat the consensus estimate of $131.54 billion. The multifaceted company reported quarterly earnings of 65 cents per share, which beat analyst estimates of 34 cents per share.

AWS sales came in at $22.1 billion in the second quarter, up 12% year-over-year. North America sales jumped 11% year-over-year to $82.5 billion. International sales increased 10% year-over-year to $29.7 billion.

Operating income totaled $7.7 billion in the quarter, up from $3.3 billion year-over-year. Operating cash flow increased 74% year-over-year to $61.8 billion. 

“We continued lowering our cost to serve in our fulfillment network, while also providing Prime customers with the fastest delivery speeds we’ve ever recorded,” said Andy Jassy, CEO of Amazon.

“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.”

Along with the strength in the cloud, driven by several AI releases, Amazon also said its seeing strong demand for advertising services.

Amazon expects third-quarter revenue to be between $138 billion and $143 billion versus estimates of $138.25 billion. Operating income is expected to be in the range of $5.5 billion to $8.5 billion.

“We remain excited about what lies ahead for customers and the company,” Jassy added.

Amazon will hold a conference call to discuss its quarterly results at 5:30 p.m. ET.

Amazon shares are up more than 53% year-to-date heading into the print.

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Edited by Arnab Nandy