Amazon's Q2 Revenue Rises 10% But Stock Falls on Weak Guidance

Despite higher earnings, Amazon's cautious consumer spending outlook and lower-than-expected Q3 forecast unsettle investors.

Amazon's Q2 revenue increased to $148 billion, with net income doubling to $13.5 billion.
Stock dropped over 9% in after-hours trading due to disappointing Q3 guidance.
CEO Andy Jassy noted a trend of customers opting for lower-priced items.
Amazon's fulfillment network is expanding with 170 new warehouses planned.
Amazon Web Services and advertising segments showed strong growth but fell short of some expectations.