Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Amazon Profits, Revenue Surge in Q2 | Transport Topics

Aug 03, 2023 - ttnews.com
Amazon reported better-than-expected Q2 results with a profit of $6.7 billion, significantly higher than the $3.64 billion anticipated by industry analysts. The company's revenue was $134.4 billion, an 11% increase from the same period last year, surpassing analyst expectations of 8.5% growth. Despite this, growth in Amazon's cloud unit AWS continued to slow, attributed to its market leader position and short-term headwinds as companies seek cost-saving measures.

Amazon's online retail business showed signs of strengthening with 5% growth, the best since Q3 of last year. The company's physical store sales, including Amazon Fresh and Go stores and Whole Foods, grew by 7%. Amazon also plans to double the number of same-day delivery sites in the coming years. The company expects to earn between $138 billion and $143 billion in revenue during the third quarter.

Key takeaways:

  • Amazon reported better-than-expected revenue and profits for the second quarter of 2023, with an overall revenue of $134.4 billion, up 11% from the same period last year.
  • The company's cloud unit AWS posted $22.1 billion in revenue, but its growth continued to slow due to market saturation and companies reallocating their spending.
  • Amazon's online retail business showed signs of strengthening with 5% growth, and the company's new regionalization model has made deliveries faster for customers.
  • The company expects to earn between $138 billion and $143 billion in revenue during the third quarter of 2023.
View Full Article

Comments (0)

Be the first to comment!