Amazon Q2 Earnings Highlights: Double Beat, 'AI Progress Across The Board Continues'

Ecommerce giant Amazon.com Inc AMZN reported second-quarter financial results after market close Thursday.Here are the highlights.What Happened: Amazon reported second-quarter net sales of $167.7 billion, up 13% year-over-year. The net sales total beat a Street consensus estimate of $161.9 billion according to data from Benzinga Pro.Sales were broken down as follows: North America: $100.1 billion, +11% year-over-year International: $36.8 billion, +16% year-over-year AWS: $30.9 billion, +17.5% year-over-year The company reported quarterly earnings per share of $1.68, beating a Street estimate of $1.30.Operating income for the company was $19.2 billion, which was broken down by segment: North America: $7.5 billion International: $1.5 billion AWS: $10.2 billion The company said it had its biggest Prime Day event ever in the quarter, with independent sellers seeing record sales.Amazon highlighted its DeepFleet AI model that helps Amazon's robots work smarter and improve efficiency.In the entertainment sector, Amazon highlighted its NBA broadcast team for upcoming coverage of basketball and the fact that its NASCAR races are averaging two million viewers per race and the youngest audience among NASCAR broadcasts in over a decade."Our conviction that AI will change every customer experience is starting to play out as we've expanded Alexa+ to millions of customers, continue to see our shopping agent used by many millions of customers, launched AI models like DeepFleet," Amazon CEO Andy Jassy said. "Our AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth, and I'm excited for what lies ahead."Read Also: Magnificent Seven Now Worth Over $19 Trillion—And They Make Up 35% Of The S&P 500What's Next: The company expects third quarter net sales to come in a range between $174.0 billion and $179.5 billion, versus a Street estimate of $172.8 billion, according to data from Benzinga Pro. This range represents year-over-year growth of 10% to 13%.The company expects operating income for the third quarter to be in a range of $15.5 billion to $20.5 billion, compared to $17.4 billion in the third quarter of 2024.AMZN Price Action: Amazon stock is down 2.4% to $228.55 in after-hours trading Thursday versus a 52-week trading range of $151.61 to $242.52. Amazon Denies Raising Prices Due To Trump & Tariffs: ‘Consistently Offering Customers Low Prices Every Day’ Photo: Shutterstock