<p>財報季正在如火如荼地進行，一些備受關注的公司向投資者提供了重要的信息。<strong>亞馬遜</strong>（AMZN -0.23%）於 7 月 31 日公佈了截至 6 月 30 日的第二季度財報。</p>
<p>1677 億美元的收入和每股攤薄收益 1.68 美元均大幅超出分析師的共識預期。然而，重要的是要在亞馬遜更大背景下看待這些新信息。</p>
<p>這家 “七大巨頭” 股票的最新財報對長期投資者意味着什麼。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY5MTUvcG9pbnRpbmctdG8tZmlsZXMtY2xvdWQtY29tcHV0aW5nLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY5MTUvcG9pbnRpbmctdG8tZmlsZXMtY2xvdWQtY29tcHV0aW5nLmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>第二季度亮點</h2>
<p>我認為首先簡要概述一下最新季度最重要的財務驅動因素是合適的。收入同比增長 13%。北美關鍵業務板塊的收入增長了 11%，推動了整體收入的增長。</p>
<p>運營收入在本季度飆升 31%，達到 192 億美元。首席執行官安迪·賈西近年來一直專注於成本控制和運營效率，因此看到這一戰略以利潤上升的形式顯現出來是非常令人鼓舞的。</p>
<p>然而，股票在消息公佈後立即下跌。市場是一個前瞻性的機器。投資者對管理層對第三季度運營收入的預測並不滿意，預計中值為 180 億美元。這將意味着同比增長僅為 3%，遠低於亞馬遜近期的增長速度。</p>
<h2>放眼大局，關注全局</h2>
<p>每家公司的季度業績都受到投資界的嚴格審查，但重要的是要退後一步，看看更大的圖景。亞馬遜最新的財務更新為長期投資者提供了一些關鍵見解。</p>
<p>第一個要點是領導團隊對持續的人工智能（AI）熱潮高度關注。這可以通過其支出的激增看出。資本支出在本季度總計 314 億美元。</p>
<p>如果這種速度持續下去，年化支出將超過 1250 億美元。這些鉅額支出旨在擴展公司的技術基礎設施，更好地滿足對人工智能的需求。</p>
<p>另一個要點是亞馬遜是一家全面發展的企業，這使其成為其他公司的羨慕對象。是的，這家企業首先以徹底顛覆零售行業而聞名。因此，電子商務仍然是其成功的關鍵。</p>
<p>然而，該公司有能力繼續受益於其他強大的長期趨勢。雲計算是一個值得關注的領域。亞馬遜網絡服務（AWS）長期以來一直是雲計算的領導者。但其主導地位正受到挑戰，因為競爭對手的增長速度更快。</p>
<p>這並不令人驚訝，因為 AWS 的收入基數要大得多。整個行業正在快速擴張，這意味着多個參與者將有很多機會取得成功。儘管如此，投資者仍需密切關注該細分市場的銷售增長。</p>
<p>數字廣告已成為亞馬遜業務中非常重要的一部分。該業務擁有寶貴的數字資產，包括其在線市場和 Prime Video 流媒體服務，使其能夠展示廣告。該細分市場的收入增長了 23%。根據頂級數字廣告公司的盈利能力判斷，亞馬遜在這裏肯定獲得了可觀的收益。</p>
<p>長期投資者也可以放心，這隻股票仍然是一個明智的持有選擇。截至 8 月 6 日，股票的市盈率為 33.9，遠低於過去五年的平均水平。這表明該股票的估值遠未被拉伸。對於能夠展望五年或更長時間的耐心投資者來説，仍然有上行空間。</p>
<p>儘管市場對亞馬遜第二季度業績的反應消極，但很容易看出，這仍然是一家精英企業，值得在您的投資組合中佔有一席之地。</p>

亞馬遜

<p>亞馬遜公佈了強勁的第二季度財報，收入為 1677 億美元，每股收益為 1.68 美元，超出分析師預期。然而，由於對第三季度運營收入的保守預測，股價下跌。對於長期投資者的關鍵見解包括亞馬遜對人工智能的關注、顯著的資本支出以及數字廣告的增長。儘管市場反應不一，該股票的市盈率為 33.9，仍然被認為具有吸引力，暗示長期持有者可能會有上漲空間</p>

<p>Earnings season is in full swing, and some of the most closely watched companies have given investors crucial information to chew on. On July 31, <strong>Amazon</strong>(AMZN -0.23%) reported earnings for the second quarter (ended June 30).</p>
<div class="lb-trans"><p>財報季正在如火如荼地進行，一些備受關注的公司向投資者提供了重要的信息。<strong>亞馬遜</strong>（AMZN -0.23%）於 7 月 31 日公佈了截至 6 月 30 日的第二季度財報。</p>
</div><p>Revenue of $167.7 billion and diluted earnings per share of $1.68 both came in well ahead of consensus analyst estimates. However, it's important to view this fresh information in the context of Amazon's bigger picture.</p>
<div class="lb-trans"><p>1677 億美元的收入和每股攤薄收益 1.68 美元均大幅超出分析師的共識預期。然而，重要的是要在亞馬遜更大背景下看待這些新信息。</p>
</div><p>Here's what this &#34;Magnificent Seven&#34; stock's latest earnings report means for long-term investors.</p>
<div class="lb-trans"><p>這家 “七大巨頭” 股票的最新財報對長期投資者意味着什麼。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY5MTUvcG9pbnRpbmctdG8tZmlsZXMtY2xvdWQtY29tcHV0aW5nLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F826915%2Fpointing-to-files-cloud-computing.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Second-quarter highlights</h2>
<div class="lb-trans"><h2>第二季度亮點</h2>
</div><p>I think it's appropriate to first give a brief high-level overview of the latest quarter's most important financial drivers. Revenue increased 13% year over year. The top line was bolstered by an 11% gain in the key North America segment.</p>
<div class="lb-trans"><p>我認為首先簡要概述一下最新季度最重要的財務驅動因素是合適的。收入同比增長 13%。北美關鍵業務板塊的收入增長了 11%，推動了整體收入的增長。</p>
</div><p>Operating income soared 31% to $19.2 billion in the quarter. CEO Andy Jassy has focused relentlessly on cost controls and operational efficiencies in recent years, so it's very encouraging to see this strategy play out in the form of rising profits.</p>
<div class="lb-trans"><p>運營收入在本季度飆升 31%，達到 192 億美元。首席執行官安迪·賈西近年來一直專注於成本控制和運營效率，因此看到這一戰略以利潤上升的形式顯現出來是非常令人鼓舞的。</p>
</div><p>However, the stock tanked immediately following the news. The market is a forward-looking machine. And investors were not happy with management's forecast for operating income in the third quarter to be $18 billion at the midpoint. This would translate to just a 3% year-over-year gain, much slower than the recent growth Amazon has put up.</p>
<div class="lb-trans"><p>然而，股票在消息公佈後立即下跌。市場是一個前瞻性的機器。投資者對管理層對第三季度運營收入的預測並不滿意，預計中值為 180 億美元。這將意味着同比增長僅為 3%，遠低於亞馬遜近期的增長速度。</p>
</div><h2>Zoom out and focus on the big picture</h2>
<div class="lb-trans"><h2>放眼大局，關注全局</h2>
</div><p>Every company's quarterly results are scrutinized by the investment community, but it's important to take a step back and look at the bigger picture. Amazon's latest financial update provided some key insights for long-term investors.</p>
<div class="lb-trans"><p>每家公司的季度業績都受到投資界的嚴格審查，但重要的是要退後一步，看看更大的圖景。亞馬遜最新的財務更新為長期投資者提供了一些關鍵見解。</p>
</div><p>The first takeaway is that the leadership team is intensely focused on the ongoing artificial intelligence (AI) boom. This is evident by looking at its surge in spending. Capital expenditures totaled $31.4 billion in the quarter.</p>
<div class="lb-trans"><p>第一個要點是領導團隊對持續的人工智能（AI）熱潮高度關注。這可以通過其支出的激增看出。資本支出在本季度總計 314 億美元。</p>
</div><p>If this pace continues, it translates to more than $125 billion on an annualized basis. These are huge moves meant to expand the company's technical infrastructure and better serve demand for AI.</p>
<div class="lb-trans"><p>如果這種速度持續下去，年化支出將超過 1250 億美元。這些鉅額支出旨在擴展公司的技術基礎設施，更好地滿足對人工智能的需求。</p>
</div><p>Another takeaway is that Amazon is a well-rounded enterprise, which should make it the envy of other companies. Yes, this business is known first and foremost for how it totally disrupted the retail sector. Consequently, e-commerce remains key to its success.</p>
<div class="lb-trans"><p>另一個要點是亞馬遜是一家全面發展的企業，這使其成為其他公司的羨慕對象。是的，這家企業首先以徹底顛覆零售行業而聞名。因此，電子商務仍然是其成功的關鍵。</p>
</div><p>However, the company is in a position to keep benefiting from other powerful secular trends. Cloud computing is one area to watch. Amazon Web Services (AWS) has long been the leader in cloud computing. But its dominant position is being challenged, as rivals exhibit faster growth.</p>
<div class="lb-trans"><p>然而，該公司有能力繼續受益於其他強大的長期趨勢。雲計算是一個值得關注的領域。亞馬遜網絡服務（AWS）長期以來一直是雲計算的領導者。但其主導地位正受到挑戰，因為競爭對手的增長速度更快。</p>
</div><p>That's not too surprising because AWS is operating from a much bigger revenue base. The overall industry is rapidly expanding, which means there will be plenty of opportunities for multiple players to be successful. Nonetheless, investors will want to keep a close eye on this segment's sales growth.</p>
<div class="lb-trans"><p>這並不令人驚訝，因為 AWS 的收入基數要大得多。整個行業正在快速擴張，這意味着多個參與者將有很多機會取得成功。儘管如此，投資者仍需密切關注該細分市場的銷售增長。</p>
</div><p>Digital advertising has become a very important piece of the Amazon pie. The business owns valuable digital real estate with its online marketplace and the Prime Video streaming service, which allows it to show ads. This segment grew revenue by 23%. And judging by the profitability of the top digital ad companies out there, Amazon is surely raking in meaningful earnings here.</p>
<div class="lb-trans"><p>數字廣告已成為亞馬遜業務中非常重要的一部分。該業務擁有寶貴的數字資產，包括其在線市場和 Prime Video 流媒體服務，使其能夠展示廣告。該細分市場的收入增長了 23%。根據頂級數字廣告公司的盈利能力判斷，亞馬遜在這裏肯定獲得了可觀的收益。</p>
</div><p>Long-term investors can also take solace in the fact that this stock remains a smart holding. As of Aug. 6, shares trade at a price-to-earnings ratio of 33.9, significantly below the trailing-five-year average. And it shows that the stock's valuation is not even close to being stretched. There is still upside for patient investors who can look out five years or more.</p>
<div class="lb-trans"><p>長期投資者也可以放心，這隻股票仍然是一個明智的持有選擇。截至 8 月 6 日，股票的市盈率為 33.9，遠低於過去五年的平均水平。這表明該股票的估值遠未被拉伸。對於能夠展望五年或更長時間的耐心投資者來説，仍然有上行空間。</p>
</div><p>Despite the market's negative reaction to Amazon's second-quarter results, it's easy to see that this is still an elite business that deserves a place in your portfolio.</p>
<div class="lb-trans"><p>儘管市場對亞馬遜第二季度業績的反應消極，但很容易看出，這仍然是一家精英企業，值得在您的投資組合中佔有一席之地。</p>
</div>

What Amazon's Latest Earnings Mean for Long-Term Investors

- 亞馬遜第二季度營收為 1677 億美元，超出分析師預期。  
- 運營收入增長 31%，但第三季度預期僅增長 3%。  
- 公司在人工智能和數字廣告領域持續投資，長期前景依然樂觀。

亞馬遜最新的財報對長期投資者有何意義