Technology leaders Amazon and Apple reported gains in quarterly profits on the back of demand for cloud services and tablet computers.

US e-commerce giant Amazon saw revenue and net profit rise for the quarter ended in June, though the sales figure came in less than the market expected.

Revenue rose 10 percent from a year earlier to nearly 148 billion dollars. Its net profit nearly doubled to about 13 billion dollars.

The company said its cloud computing business performed well thanks to rising demand for AI services.

However, competition is intensifying as rivals are also focusing on the sector as a profit driver.

Apple, meanwhile, reported gains in both sales and net income for the first time in two quarters.

Revenue at the iPhone maker rose 5 percent from the same period a year earlier to about 85 billion dollars.
Net profit grew 8 percent to more than 21 billion dollars.

Tablet computers stood out with a sales surge of 24 percent thanks to the release of new models. This was followed by a 14 percent increase in revenue from music and video streaming services.