Amazon reported its Q2 2024 results, with overall revenue up 10% year-over-year. While retail growth was modest, AWS posted 19% growth, reaching an annualized revenue of $105 billion.
Yesterday, Amazon.com reported its financial results for the second quarter ending June 30, 2024. Overall, the company had revenue of $148.0 billion, up 10% year-over-year, and net income increased to $13.5 billion, up from $6.7 billion in the second quarter of 2023. While Amazon’s retail business posted modest single-digit growth, the AWS segment posted an impressive 19% growth year-over-year. The AWS segment revenue was $26.3 billion, and operating income was $9.3 billion, up from $5.4 billion in the second quarter of 2023.
With these stellar results, AWS now has an annualized revenue run rate (ARRR) of more than $105 billion. Annualized revenue refers to an estimate of the total revenue a business generates over a year.
