AFP
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Amazon has reported a 35% rise in quarterly profits, saying big investments in artificial intelligence are starting to pay off.
The Seattle-based company posted net profit of US$18.2 billion ($30.9 billion) for the second quarter that ended June 30, compared with US$13.5b in the corresponding period last year.
Net sales
climbed 13% to US$167.7b, beating analyst expectations and signalling that Amazon was surviving the impacts of US President Donald Trump’s high-tariff trade policy.
“Our conviction that AI will change every customer experience is starting to play out,” said chief executive Andy Jassy, pointing to the company’s expanded Alexa+ service and new AI shopping agents.
Amazon Web Services (AWS), the company’s cloud computing division, led the charge with sales rising 17.5% to US$30.9b.