Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Business

US stocks: Amazon beats estimates for quarterly cloud revenue growth

Amazon.com topped market expectations for quarterly cloud revenue growth on Thursday on the back of surging enterprise AI spending, signaling the company's hefty investments were bearing fruit.

Revenue at its cloud computing unit, Amazon Web Services, jumped 37% to $42.2 billion in the second quarter ended June 30, compared with analysts' consensus estimate of a 31.21% increase, according to data compiled ‌by LSEG.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.