Shares surged 4% to $284.02, pushing the company’s valuation past $3 trillion amid strong quarterly earnings growth.
Amazon’s stock closed at a record $284.02 on Monday, up over 4%, valuing the company at more than $3 trillion for the first time. The milestone follows a strong second-quarter report, where net sales rose 20% year over year to $200.6 billion and operating income climbed 43% to $27.5 billion.
AWS led growth with a 37% sales increase to $42.2 billion, its fastest pace in 18 quarters, while operating income surged 63% to $16.6 billion. The segment’s profitability, earning $0.39 per dollar of sales compared to $0.07 for the rest of the company, underscored its outsized impact.
The $3 trillion valuation trails Nvidia’s $5 trillion and Alphabet’s $4.6 trillion. A further 31% gain would push Amazon to $4 trillion, a target analysts suggest could be reached on current profit momentum.