Amazon’s Q2 Financial Performance Highlights Growth
Amazon’s revenue increased by 20% year over year in Q2, driven significantly by Amazon Web Services (AWS), which saw a 37% growth. Cloud revenue now constitutes over 20% of Amazon’s total revenue. Additionally, online advertising grew by 26% and online store sales rose by 15% year over year.
Despite Jeff Bezos selling over $4 billion worth of Amazon shares last week, the transaction was planned months in advance and not indicative of his confidence in the company’s performance. Amazon is also expanding into new areas, including AI and autonomous vehicles, with AI and chip segments each surpassing $25 billion in annual revenue run rate, presenting future growth potential.
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