[Guosen Internet & Overseas Technology]

English summary

[Guosen Internet & Overseas Technology] Amazon 26Q2 Results Snapshot: AWS +37% YoY, the fastest growth in 18 quarters; OPM rose to 39.4%; AI and chip ARR both exceeded $25 billion. Performance overview: 26Q2 revenue of $200.6 billion, +20% YoY, +20% YoY excluding FX, beating consensus by ~2%. Operating profit of $27.5 billion, +43% YoY, beating consensus by ~16%. Net profit of $62.6 billion, +245% YoY, significantly exceeding expectations; this includes $53.4 billion in pre-tax other income mainly from the Anthropic investment. Adjusting for this factor, operating profit better reflects core earnings performance. Detailed business: By segment: 1) North America revenue of $116.2 billion, +16% YoY, beating consensus by ~2%; OPM of 7.9%, +0.3pct YoY, roughly flat QoQ. Improved retail fulfillment efficiency and rapid advertising revenue growth continue to support profitability. ...