Amazon Market Cap Hits $3 Trillion After Strong Earnings

Amazon.com reached a market capitalization of approximately $3 trillion after reporting second-quarter financial results that exceeded Wall Street forecasts. Shares hit an all-time high of over $287, driven by a 14% surge following the announcement of $200.6 billion in revenue and adjusted earnings per share of $1.97 for the period ending June 30.

Growth was led by Amazon Web Services, which posted a 37% year-over-year revenue increase—its fastest growth in 18 quarters. The cloud division generated $16.6 billion of the company's $27.5 billion in total operating income. Additionally, the company's artificial intelligence and chips businesses both saw triple-digit percentage growth, with each surpassing run rates of $25 billion.

Total earnings rose from $18.2 billion to $62.6 billion, though $53.4 billion of that increase came from other income, primarily investments in the AI company Anthropic. To support continued demand for computing resources, Amazon increased its 2026 capital expenditure outlook to $220 billion, citing higher memory costs. The stock rally added $25 billion to the fortune of chairman Jeff Bezos.