Amazon Earnings Report Highlights
Amazon.com, Inc. (AMZN) reported a significant earnings boost on July 31, with shares soaring over 15% following the announcement. The earnings report showcased a year-over-year revenue increase of 37% for Amazon Web Services (AWS), reaching $42.2 billion, surpassing Wall Street’s expectations of $40.54 billion. This marks the fastest quarterly growth for AWS in 18 quarters, reflecting a robust demand for its cloud services.
Additionally, Amazon’s capital expenditures surged to $220 billion, driven by a backlog nearing $500 million for AWS, indicating an inability to meet growing customer demand through 2028. As a result, Zacks Consensus Estimates project an 82.15% growth in earnings per share (EPS) by 2026, with a PEG ratio of approximately 2x, marking it among the lowest valuations in years.
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