Amazon (NASDAQ:AMZN) reported its second-quarter earnings on Thursday after the bell, beating on the top and bottom line despite earlier concerns. The company's revenue reached a record $113.1 billion, up 27% year-over-year, while earnings per share came in at $15.12, surpassing estimates of $12.28.
Amazon on Monday said it hit record delivery speeds in the United States in the second quarter while continuing to cut costs, as investors eagerly awaited the company's earnings report. The company's focus on improving delivery efficiency has paid off, as it strives to meet customers' expectations for fast and reliable service.
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As the busy week of earnings news continues, Amazon (NASDAQ:AMZN) will soon share its financial report for the latest quarter. Analysts and investors have high expectations for the company, given its strong performance in recent years.
The twin tech giants, which represent billions in consumer and business spending, will deliver highly-anticipated quarterly reports on their financial performance. Investors are closely watching these reports to gauge the health of the technology sector and the broader economy.
US benchmark equity indexes were mostly higher as investors evaluated the latest batch of economic data and awaited financial results from major companies like Amazon. Positive earnings from Amazon could potentially boost investor sentiment and drive market gains.
The company's stock is attractive as it diversifies its position in AI. Amazon's investments in artificial intelligence have yielded positive results, with AI-powered features enhancing its customer experience and driving sales.
Today marks the highly anticipated release of quarterly reports from Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN), the last two major U.S. tech companies to report their earnings. Investors are eager to see if these tech giants can maintain their strong growth momentum.
