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Amazon (AMZN) is set to report its second-quarter earnings for 2025 on Thursday, July 31. Notably, AMZN stock has staged an impressive comeback ahead of earnings, growing 22.5% over the past three months. Yet despite this recent surge, Amazon shares have only gained 5.6% since the beginning of the year, indicating that not everything has gone smoothly for the technology giant so far in 2025.
While Amazon continues to show steady growth across its business segments, its all-important cloud division, Amazon Web Services (AWS), grew at a slower pace than expected. Moreover, broader concerns about the economy, inflation, and tariffs have weighed on Amazon stock.