GoKawiilAmazon reported surging cloud growth during the second quarter, pointing to strong artificial intelligence demand, and the company boosted its capital spending forecast for the year.
The stock shot up more than 10% in extended trading.
Here's how the company did, compared with estimates from analysts polled by LSEG:
Earnings per share: $5.75 a share. That may not compare with the $1.82 per share expected by LSEG
$5.75 a share. That may not compare with the $1.82 per share expected by LSEG Revenue: $200.61 billion vs. $196.47 billion estimated
Wall Street was also looking at other key revenue numbers:
Amazon Web Services: $42.2 billion vs. $40.54 billion expected, according to StreetAccount
$42.2 billion vs. $40.54 billion expected, according to StreetAccount Advertising: $19.81 billion vs. $19.43 billion expected, according to StreetAccount
Amazon said it expects to spend even more on AI, with capital expenditures projected to hit $220 billion this year, CEO Andy Jassy said on a conference call with investors. In February, the company said capex would hit $200 billion this year, and it held steady on that forecast in April.
Revenue in Amazon's cloud segment expanded 37% year over year during the quarter, surpassing Wall Street's expectations for 31% growth. That marked the unit's fastest growth since 2021, Jassy said in the earnings release.
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