Amazon (AMZN) could push higher with its latest earnings beat.
In its second quarter, the company posted EPS of 94 cents, as compared to expectations for 58 cents. Revenue of $143.1 billion was also above expectations for $141.4 billion.
While Amazon Web Services slightly missed expectations for $23.2 billion, with a print of $23.1 billion, CEO Andy Jassy is optimistic- especially with generative artificial intelligence likely to drive billions of dollars of revenue to it. Better, advertising revenue jumped to $12.1 billion, as compared to estimates of $11.6 billion.
“We had a strong third quarter as our cost to serve and speed of delivery in our Stores business took another step forward, our AWS growth continued to stabilize, our Advertising revenue grew robustly, and overall operating income and free cash flow rose significantly,” Jassey added, as quoted by CNBC.
AMZN last traded up $6.41 a share to about $126 in after-hours.
