Amazon Jumped Over 10% in Morning Trading As Analysts Highlighted the Strength of AWS, Prime and Advertising
Tiger Newspress2022-07-29
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
