Amazon reported second-quarter results that topped Wall Street expectations, driven by strong growth in its AWS cloud computing and advertising businesses, with few weak spots across the company.
Net sales rose 20% to $200.6 billion from $167.7 billion a year earlier. Operating income climbed 43% to $27.5 billion. Net income surged to $62.6 billion from $18.2 billion, lifted by a $53.4 billion non-operating gain primarily from Amazon’s investment in Anthropic.
The company also raised its full-year capital expenditures forecast by $20 billion to $220 billion to stay competitive.
Advertising revenue grew 26% to $19.8 billion. On the earnings call, President and CEO Andy Jassy said Sponsored Products remains the largest offering and a key growth driver, while noting progress in agentic and conversational ad experiences within Alexa+ and Alexa for Shopping. He highlighted strength in sports advertising, including 30 new NBA advertisers in the first year of that partnership, with inventory selling out for Thursday Night Football, the NBA, WNBA and NASCAR.