Published , by Donovan Erskine
Published , by Donovan Erskine
Amazon’s (AMZN) earnings report was a mixed bag as the company beat expectations for EPS but missed them for revenue. The report also featured an update on Amazon Web Service, the widely used cloud platform operated by the company. In Q2 2024, AWS saw its revenue grow 19 percent year-over-year.
The AWS figure is provided under the net sales section of Amazon’s Q2 2024 earnings report. The AWS segment brought in $26.3 billion of the $148 billion in revenue that Amazon made during the quarter. In Q2 2023, AWS revenue was just north of $22 billion.
Despite significant growth in its AWS segment, Amazon’s overall revenue was $1 billion short of expectations, and the stock was volatile in after-hours trading as a result.
With Amazon Web Services continuing to be a boon for the retail giant, we’ll be monitoring to see if that growth continues in the coming quarters. Be sure to bookmark the Shacknews topic page dedicated to market news for similar stories from the business world.