AWS revenue Q2 2022

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Adam Selipsky, CEO of Amazon Web Services, speaking at the AWS Reinvent Conference in Las Vegas on November 30, 2021.

Noah Berger | Getty Images

Amazon said on Thursday that revenue from its cloud segment rose 33% in the second quarter, beating analysts’ estimates.

Amazon Web Services generated $19.74 billion in revenue during that period, according to a statement. Analysts polled by StreetAccount had expected $19.56 billion. The growth rate slowed from nearly 37% in the previous quarter.

Amazon left AWS operating income of $5.72 billion, up 36% year over year, but below the StreetAccount consensus estimate of $6.04 billion. Nonetheless, it still played a crucial role in Amazon, which reported a total of $3.32 billion in operating income. AWS operating margin declined to 29% from 35.3% in the first quarter.

While Amazon still relies on retail for the majority of its revenue, AWS is the company’s profit engine and represents a significant source of diversity as an economy slowed down and consumers reel in spending….



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