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Amazon Surges 12% Premarket as Cloud Revenue Grows for Fifth Consecutive Quarter

On July 31, Amazon surged 12% premarket to $263.75 per share. Amazon's second-quarter revenue reached $200.6 billion, up 20% year over year; operating income was $27.5 billion, up 43% year over year. AWS revenue was $42.2 billion, up 37% year over year, marking the fastest growth since the fourth quarter of 2021 and driving sales acceleration for the fifth consecutive quarter, beating market expectations of $40.6 billion. This pushed AWS's annualized revenue run rate to $169 billion. The company expects third-quarter revenue between $197 billion and $202 billion, and operating income between $22.5 billion and $26.5 billion, with the midpoint of both guidance ranges below market estimates. Capital expenditures were raised from the previous $200 billion to $220 billion.

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