Amazon and Alphabet Post Strong Q2 Results
Amazon (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOG, GOOGL) reported impressive financial performances for Q2, with shares experiencing significant increases. Amazon’s revenue grew by 20%, while its cloud division, Amazon Web Services (AWS), accounted for 60% of its operating profits. In contrast, Alphabet’s revenue surged by 24%, with its cloud segment witnessing an even more remarkable 82% growth.
Despite slower overall growth in revenue, Amazon’s operating income growth outpaced Alphabet’s, bolstering its position as a more attractive investment. Both companies had similar valuations, although Amazon was slightly more expensive. Analysts suggest that Amazon’s operating profits are likely to grow faster as AWS continues to expand its influence in Amazon’s business model.
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