亚马逊：2Q earnings beat; YoY margin expansion remains on track although the pace may slow

5 Aug 2024 Amazon (AMZN US) Amazon released (2 Aug HKT) 2Q24 results: revenue was US$148.0bn, up 10% YoY, and was largely inline with Bloomberg consensus, and total operating profit was US$14.7bn, up 70% YoY, 7% better than consensus, driven by OPM margin beat for AWS aided by efficient cost control. In view of this, customers are more careful with their spending. Management also turns more cautious, and guided for revenue of US$154.0bn-158.5bn for 3Q24E, the mid-point of which is 1% lower than consensus. A ...