Amazon jumped over 10% in morning trading.
Amazon reported a second-quarter loss of $2 billion, or 20 cents a share, after posting a profit of 76 cents a share in the same period last year. However, the second-quarter results included a loss of $3.9 billion as a result of a valuation decline for an investment in Rivian Automotive Inc.$(RIVN)$Last year's results were adjusted for Amazon's 20-to-1 stock split.
Cloud growth helped fuel the company's second-quarter sales. Amazon Web Services$(AWS)$revenue was $19.74 billion during the quarter, up from $14.8 billion in the same period last year.
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