Amazon.com Inc. shares jumped over 8% in after-hours trading after second-quarter results beat Wall Street expectations. The company reported net sales of $200.6 billion. This figure marks a 20% increase year-over-year. Operating income reached $27.5 billion.
Amazon Web Services (AWS) revenue rose to $42.2 billion. This represents a 37% increase for the division. This performance marks the fastest growth for AWS in 18 quarters.
CEO Andy Jassy cited surging demand for artificial intelligence services as the primary growth driver. Amazon's AI and custom chip businesses both surpassed $25 billion annual revenue run rates.