Amazon Second Quarter Results and Market Reaction

- Stock Decline:

- Shares of Amazon $AMZN fell 6% after reporting disappointing second-quarter earnings that missed expectations by $0.58 billion.

- Amazon Web Services (AWS):

- AWS slightly beat expectations with revenue of $26.3 billion.

- Advertising Revenue:

- Advertising revenue fell short of expectations, contributing to the negative market reaction.

- New Discount Store:

- Amazon $AMZN plans to launch a discount store with unbranded goods under $20 to meet growing demand for cheaper goods.

Overall Net Profit:

- Despite weaker revenue in several segments, Amazon $AMZN 's overall net profit doubled to $13.5 billion.