1 month ago
Amazon Q2 Profits Surge, AWS Growth Drives Sales
Amazon made a lot of money in its second quarter of 2023.
The company’s cloud service, AWS, grew a lot, adding 37% more sales.
Amazon also spent a lot on artificial‑intelligence and other tech.
The CEO said AWS is “booming” and that customers can get items faster.
Investors are watching to see if the big spending will pay off.
Amazon posted Q2 net income of $62.65 B, up from $18.16 B a year earlier.
AWS sales rose 37% in Q2, the fastest growth in 18 quarters.
Amazon’s AI and chip businesses each exceeded $25 B run rates.
CEO Andy Jassy said AWS is “booming” and highlighted record Prime delivery speeds.
Investors noted Amazon’s $200 B AI investment and cautious sales outlook for the next quarter.
- Who
- Amazon
- What
- reported strong Q2 profits driven by AWS growth
- Where
- United States
- When
- April–June 2023
- Why
- AWS expansion, AI investments, and record delivery speeds
Key facts
- Net income
- $62.65 billion
- Net sales
- $200.6 billion
- AWS sales growth
- 37%
- AI investment
- $200 billion
- CEO
- Andy Jassy
Quotes
Andy Jassy
Amazon CEO and president
“AWS is booming. There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond.”
livemint.com
Sources
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