Amazon posts record quarterly profit as cloud services surge 37% YoY
Amazon announced a sharp rise in profit and revenue for its fiscal second quarter, driven by rapid growth in its AWS cloud unit.
Amazon disclosed that its fiscal second-quarter results featured a net profit of $62.65 billion, translating to earnings of $5.75 per share, a substantial jump from $18.16 billion and $1.68 per share a year prior. Total revenue reached $200.6 billion, beating the consensus estimate of $197.03 billion. The surge was largely attributed to Amazon Web Services, whose sales rose 37% compared with the same period last year, accelerating from a 28% gain in the previous quarter and representing the quickest growth in 18 quarters.
The company’s outlook for the ensuing quarter also topped analyst projections. These figures underscore expanding demand for Amazon’s e-commerce platform and its broader technology services.
Why it matters
The results highlight Amazon’s growing reliance on cloud computing for profit, signaling strength in a key tech sector.
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