Today's Business Headlines: 07/31/24
Amazon forecast current quarter sales below estimates, and shares fell sharply after hours even though second-quarter profit beat Wall Street estimates.
“We’re continuing to make progress on a number of dimensions, but perhaps none more so than the continued re-acceleration in AWS growth,” CEO Andy Jassy said in a release announcing the results.Amazon’s cloud business, Amazon Web Services , reported a 19% increase in revenue to $26.3 billion for the second quarter, surpassing market estimates of $25.95 billion.
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