US Stock Movement | Amazon (AMZN.US) rises over 11% as Q2 earnings surpass market expectations

According to Zhihui Finance APP, on Friday, Amazon (AMZN.US) opened with a gain of over 11%, reaching a market capitalization of $2.85 trillion. On the news front, Amazon's second-quarter financial report shows total revenue increased by 20% year-on-year to $200.6 billion, better than analysts’ average expectation of $197 billion; operating profit was $27.5 billion, up 43% year-on-year; and net profit reached $62.6 billion, a year-on-year increase of 245%. The company’s second-quarter performance exceeded market expectations, and the fact that cloud computing business revenue accelerated growth for a fifth consecutive quarter eased investors’ concerns over the company’s huge capital investment in artificial intelligence (AI) failing to generate returns.