Amazon is one of the biggest companies in the world, with far-reaching consequences attached to its development. Amid the grand decline in the prospects of the tech-based entities on Wall Street, Amazon shares also declined in the Sea of Red, which appears to have affected stocks listed at NYSE.
Amazon Q2 Results
This comes at the back of the Q2 results. The second quarter season so far has opened up more avenues for bearish actions from investors.
The company accrued a total income of USD 13,485 million in the recently concluded. Compared to the previous quarter's USD 6,750 million.
According to Amazon, AWS on its own has generated USD 9.3 billion in quarterly operating income. This amount accounts for 63 per cent of the total operating income made by the company. |
AWS a Silver-Lining
The company achieved a total sale USD 147,977 million, compared to the previous quarter's USD 134,383 million.
The Seatle-based company's total expenses, however, declined to USD 133,305 million, compared to the previous USD 126,702 million.
The company also announced guidance for the next quarter. In the third quarter of 2024, the company is predicted to make between USD 11.5 billion and USD 15 billion. This is similar to the operating income from USD 11.2 billion in 2023.
One of the company's rising profiles, that has become highly consequential is Amazon Web Services or AWS.
Amazon shares decline |
According to filings, this unit of the tech giant reported revenue of USD 26.28 billion. According to Amazon, AWS on its own has generated USD 9.3 billion in quarterly operating income. This amount accounts for 63 per cent of the total operating income made by the company.
Amazon shares have declined by over 7 per cent in the past month alone. The company shares closed in red on August 1 as well. The share price dropped by 1.56 per cent or USD 2.91, declining to USD 184.07.
