Amazon failed to quiet concerns over how Donald Trump’s sweeping tariffs would affect its e-commerce business as it reported its latest quarterly results on Thursday. Wall Street’s affinity for the tech giant faltered in response.
The top line numbers from Amazon’s second quarter earnings report exceeded Wall Street’s projections. The tech company beat expectations with its revenue up 13.3% year over year to $167.7bn. Market experts had estimated the company would report around $162bn in revenue and 9% percent growth. The company’s Amazon Web Services cloud computing division reported its sales reached $30.9bn in an increase of 17.5% year over year.
