Amazon's stock price surges 9% due to growth in cloud computing
2026-07-31 13:30:06
According to CoinMeta, Amazon's stock price rose by 9% in after-hours trading due to the accelerated growth of its cloud computing business. Amazon reported second-quarter earnings that exceeded Wall Street's expectations, with quarterly revenue reaching $20.061 billion, surpassing analysts' forecast of $19.647 billion. Amazon Web Services (AWS) revenue was $42.2 billion, a year-on-year increase of 37%, far exceeding analysts' expected 31%. Although Amazon expects third-quarter revenue to be between $19.7 billion and $20.2 billion, which is lower than analysts' forecast of $20.41 billion, investors remain optimistic about the strong growth of AWS and the long-term demand for artificial intelligence infrastructure.
Source:Coinpaper
This content is for market information only and does not constitute investment advice.
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