Summary by Futu AI
Amazon reported a robust financial performance for Q2 2024, with operating cash flow increasing to $25.3 billion from $16.5 billion in Q2 2023. The company's net sales rose by 10% year-over-year to $147.977 billion, driven by growth across all segments, particularly AWS with a 19% increase. Operating income nearly doubled to $14.672 billion from $7.681 billion in the previous year. Amazon's investment in technology infrastructure, primarily to support AWS business growth, is expected to significantly increase in 2024. The company's international sales grew by 7%, despite a $974 million impact from foreign exchange rates. Amazon's liquidity remains strong, with cash, cash equivalents, and marketable securities totaling $89.1 billion as of June 30, 2024. Looking ahead, Amazon anticipates net sales between $154.0 billion and $158.5 billion for Q3 2024, with operating income projected to be between $11.5 billion and $15.0 billion. The guidance reflects the company's expectations of continued investment in growth opportunities and infrastructure, as well as potential market risks such as foreign exchange rates and global economic conditions.