.August 2, 2024 12:38 PM

Amazon (NASDAQ:AMZN) beat Q2 earnings estimates with adjusted EPS of $1.26 on revenue of $148.0 billion, up 10% YoY. However, weaker Q3 guidance of $154-158.5 billion caused the stock to drop 8%.

CEO Andy Jassy highlighted AWS’s 19% YoY growth to $26.3 billion and North America’s 9% revenue increase to $90.0 billion. International revenue grew 7% to $31.7 billion, or 10% excluding FX impacts.

Operating income more than doubled to $14.7 billion, a significant improvement from $7.7 billion in Q2 2023, showcasing increased profitability for Amazon.