Amazon reported strong second-quarter earnings that exceeded analysts' estimates, leading to a more than 7% increase in the company's stock. The blowout profits indicate that CEO Andy Jassy's cost-cutting efforts, including layoffs and expense trimming, are starting to pay off. Amazon expects sales to continue growing in the third quarter, with revenue projected to be between $138 billion and $143 billion. The success of Amazon's Prime Day discount event in July contributed to the company's double-digit growth. Additionally, Amazon's cloud unit, AWS, saw a 12% increase in sales, accounting for 70% of the company's operating profit.

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