US Stock Market Move | Amazon.com, Inc. (AMZN.US) exceeded market expectations in the second quarter, rising over 11%.
On Friday, Amazon (AMZN.US) opened with a rise of over 11%, reaching a market value of $2.85 trillion.
On Friday, Amazon.com, Inc. (AMZN.US) opened with a rise of over 11%, reaching a market value of $2.85 trillion. In terms of news, Amazon.com, Inc.'s second-quarter financial report showed total revenue grew by 20% year-on-year to $200.6 billion, better than the analysts' average expectation of $197 billion; operating profit stood at $27.5 billion, a year-on-year increase of 43%; and net profit reached $62.6 billion, up 245% year-on-year. The company's second-quarter performance exceeded market expectations, and the revenue from its cloud computing business achieved accelerated growth for the fifth consecutive quarter, alleviating investor concerns about its significant capital investments in artificial intelligence (AI) not yielding returns.
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