E-commerce company Amazon posted its Q2 earnings on Thursday, reporting stable growth as its AI segment ramps up its offerings, competing with other tech companies, including Microsoft, Google, and Apple, as per its earnings report.
“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 that optimize productivity paths for our 1M+ robots, made it much easier for software developers to write code with Kiro (our new agentic IDE), launched Strands to make it easier to build AI agents, and released Bedrock AgentCore to enable agents to be operated securely and scalably,” said Amazon CEO Andy Jassey.
Amazon’s profitability metrics were positive
Net sales jumped by 13% to $167.7 billion on a year-on-year basis. Profitability metrics of operating income and net income both increased on a year-on-year basis to $19.2 billion and $18.2 billion.
Performance for cash flow metrics was mixed, with operating cash flow increasing by 12% to $121.1 billion and free cash flow decreasing to $18.2 billion on a trailing twelve-month basis.
Source: Google Finance
The update in earnings comes three weeks after Jeff Bezos sold Amazon stock worth $666 million.