 Amazon’s sales boomed in the second quarter, fueling a jump in profit a year ago. 

 Sales grew 11% to $134.4 billion. That’s an increase from $121.2 billion in second quarter of 2022. 

 The numbers exceeded analyst predictions of $131.4 billion revenue. 

 The stock surged 7% in after-hours trading. Investors were closely watching consumer spending in both the cloud and retail markets. 

 The company’s profit jumped sharply compared to this quarter last year. Its net income was $6.7 billion in the second quarter, compared to a net loss of $2 billion in second quarter 2022. It soared past Refinitiv analyst predictions of a $3.592 billion in earnings. 

This is a developing story. It will be updated.

E-commerce behemoth Amazon increased its net sales 11% to $134.4 billion in the second quarter as analysts monitor consumer spending in both the cloud and retail markets.{ai:summary}Amazon's sales surged in the second quarter, with an 11% increase to $134.4 billion, surpassing analyst predictions. The company's profit also jumped significantly, reaching $6.7 billion compared to a net loss last year. #economy

Amazon profit jumps and sales surge | CNN Business

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