Amazon Stock Hits Record High After Earnings

Amazon Stock Surges to Record High After Strong Q2 Earnings Report

Seattle, WA – July 30, 2024 – Amazon.com Inc. (NASDAQ: AMZN) saw its stock price soar to an all-time high in after-hours trading following a stronger-than-expected second-quarter earnings report. The e-commerce and cloud computing giant reported revenue of
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155billion,up12150 billion.

Key Highlights from Amazon’s Q2 Performance

Revenue Growth: Amazon’s sales were driven by strong performance in its North American retail segment and a rebound in international markets.

AWS Expansion: Amazon Web Services (AWS), the company’s cloud division, posted $25 billion in revenue, a 17% increase from the previous year, reinforcing its dominance in the cloud sector.

Profitability Boost: Operating income jumped to
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12billion,upfrom7.7 billion in Q2 2023, thanks to cost-cutting measures and higher-margin services.

Market Reaction

Following the earnings release, Amazon’s stock surged by 8% in extended trading, reaching a record high of
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205pershare.Therallyaddedover100 billion to Amazon’s market capitalization, further solidifying its position as one of the world’s most valuable companies.

Analyst Outlook

'Amazon’s ability to sustain growth in both e-commerce and cloud computing demonstrates its resilience in a competitive market,' said Jessica Roth, senior analyst at Bernstein. 'AWS remains a major profit driver, while advertising revenue is also becoming a significant contributor.'

Future Prospects

Looking ahead, Amazon expects Q3 revenue to be between
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160billionand170 billion, signaling confidence in continued consumer and enterprise demand. The company is also investing heavily in artificial intelligence, with plans to integrate more AI tools across its retail and cloud platforms.

Amazon’s stock has now gained over 30% year-to-date, outperforming many tech peers. Investors will be watching closely to see if the momentum continues in the second half of 2024.

— Reporting by [Your Name], Financial News Network

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