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Amazon reports upbeat guidance, Q2 results beat as cloud growth tops estimates

Investing.com -- Amazon reported Thursday second-quarter results that topped analysts' estimates and delivered upbeat guidance for Q3 as growth in its cloud business topped estimates.

Amazon.com Inc (NASDAQ:AMZN) rose more than 6% in afterhours following the report.

Amazon reported Q2 EPS of $0.65 on revenue of $134.4 billion, beating estimates of $0.35 on revenue of $131.45B.

Net sales in North America rose 11% to $82.5B year-on-year in Q2.

Amazon Web Services, its fast-growing cloud revenue segment, grew 12% to $22.1B, ahead of estimates of 10.2%.

"Our AWS growth stabilized as customers started shifting from cost optimization to new workload deployment," the company said.

For the third quarter, the company expects revenue of $138B to $143B, beating Wall Street estimates of $138.28B. Operating income for Q3 was guided in a range of $5.5B to $8.5B.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.