Amazon Reports $148 Billion in Second Quarter Sales

Category: Business

Amazon's cloud computing services, AWS, saw a 19% growth to $26.3 billion, with an operating margin increase to 35.5%. The company invested $16 billion in capital expenditures, focusing on advanced computing for AI. Despite profitability, regulatory scrutiny has hindered acquisitions, leading to a record cash balance of $71.7 billion.

Keywords: Amazon, AWS, cloud computing

Source: The New York Times

Update At: 8/2/2024

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