"When Amazon released its Q2 earnings on July 31, it reported that net sales increased 13% to $167.7 billion in the second quarter, compared with $148.0 billion in the year-prior quarter. Net income increased to $18.2 billion, or $1.68 per diluted share, compared with $13.5 billion, or $1.26 per diluted share, in Q2 2024. However, free cash flow decreased to $18.2 billion TTM, compared with $53.0 billion TTM the year prior due to Amazon's ongoing CapEx on AI."
"In other company news, the firm announced in July that it deployed its 1 millionth robot while also deploying its new AI foundation model to power its robotic fleet. The robotics cycle is "early," according to Bank of America's analyst, who expects Amazon to leverage robots to reduce labor dependency, increase order accuracy and improve warehouse efficiency, driving material cost savings."
Shares of Amazon rose 4.71% over the past five trading sessions, recovering from a nearly 10% one-day drop on Aug. 1 and producing a year-to-date gain of 6.36% and a one-year gain of 33.54%. The company will begin offering same-day grocery delivery. Founder Jeff Bezos sold nearly 3 million shares worth $665.8 million in July as part of a plan to sell up to 25 million shares through May 2026. Amazon deployed its 1 millionth robot and an AI foundation model for its robotic fleet. Q2 net sales rose 13% to $167.7 billion and net income increased to $18.2 billion, while free cash flow fell to $18.2 billion TTM due to CapEx on AI. Multiple analysts raised price targets in June and July.
Read at 24/7 Wall St.
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