Q2 Profits Surge for Amazon, Leading to a Rise in Stock Price

  • Amazon exceeded predictions, with Q2 profits of $6.7 billion, boosted by a $0.2 billion gain on its Rivian investment.
  • Demonstrating 11% growth, overall revenue rose to $134.4 billion, topped by AWS’s contribution of $22.1 billion.
  • Amazon’s physical store sales grew by 7%, primarily fueled by their Amazon Fresh and Go stores, while online retail business expanded by 5%.
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