Wall Street was happy to see stabilizing growth at the company's cloud unit Amazon Web Services and an uptick in operating margins.
With Amazon turning a corner on profitability and AWS revenue growth stable, we think the stock still has more room to run.
There's been plenty of debate surrounding AWS lately, with analysts and investors questioning whether revenue growth would decelerate to the high single digits.
In North America, second-quarter operating margins improved to 3.9%, compared with 1.2% in the first quarter and a loss of 0.8%) a year ago.
Third quarter outlook Amazon followed up the strong second quarter with a very bullish view of the third.
Persons:
There's, Andy Jassy, Amazon, Jim Cramer's, Jim Cramer, Jim, Sheldon Cooper
Organizations:
Club, Web Services, Revenue, Refinitiv, Rivian Automotive, Amazon Web Services, North, CNBC, Lightrocket, Getty
Locations:
North America