Amazon Web Services Revenue Grows 37% to $42.2 Billion
Amazon Web Services (AWS) reported a 37% increase in revenue to $42.2 billion for the quarter ending June 30, surpassing analysts' expectations of $40.6 billion. This marks the fastest growth rate since the fourth quarter of 2021. AWS accounts for about one-fifth of Amazon's total revenue and a significant portion of its operating profit. Amazon reported that spending on property and equipment exceeded $53 billion during the quarter. The company expects capital expenditures to reach $200 billion this year, primarily for artificial intelligence-related projects, as investors watch for signs of over-investment.
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