Amazon reported its first-ever quarter with revenue exceeding $200 billion, beating Wall Street estimates for the April-June period. Shares jumped 9% in after-hours trading on Thursday as the tech giant's strong performance was driven by growth in cloud computing and advertising.
AWS revenue surged 37%, the largest quarterly increase in more than four years, underscoring the company's strength in artificial intelligence services. Advertising services revenue climbed 26% year over year to $19.8 billion, nearing the $20 billion mark. Overall profit soared to $62.6 billion, largely thanks to gains from Amazon's investment in AI company Anthropic.
The results marked a significant milestone for Amazon, which had never previously broken the $200 billion revenue barrier in a single quarter. The company's earnings per share also exceeded analysts' expectations, contributing to the after-hours rally. The strong performance highlights Amazon's ability to capitalize on growing demand for cloud infrastructure and digital advertising, even as the broader tech sector faces economic uncertainty.