Amazon released its financial results for the second quarter of 2023, sales increased by 11% year-on-year to 19.18 trillion yen, net income succeeded in turning profitable, and revenue from AWS, advertising, subscriptions, etc. also increased significantly
Amazon has released its results for the second quarter of 2023 (April-June). Not only is net sales growing 11% year-on-year to $134.4 billion (approximately 19.18 trillion yen), but
AMAZON.COM ANNOUNCES SECOND QUARTER RESULTS
(PDF file) https://s2.q4cdn.com/299287126/files/doc_financials/2023/q2/Q2-2023-Amazon-Earnings-Release.pdf
Amazon stock jumps 7% after Q2 earnings beat estimates with $134.4B in revenue – GeekWire
Amazon (AMZN) Q2 earnings report 2023
https://www.cnbc.com/2023/08/03/amazon-amzn-q2-earnings-report-2023.html
Below is the content of the financial report released by Amazon. Amazon's net sales in the second quarter of 2023 were $ 134.4 billion (about 19.18 trillion yen), compared with the net sales of $ 121.2 billion (about 16.3 trillion yen) in the second quarter of 2022, which is the same period of the previous year. ) shows an increase of about 11%. Wall Street estimates Amazon's net sales in the second quarter of 2023 at $ 131.5 billion (about 18.76 trillion yen), which is reported to be better than Wall Street's expectations.
In addition, Amazon's operating profit in the second quarter of 2023 was $ 7.7 billion (about 1.98 trillion yen), a sharp increase of about 230% from $ 3.3 billion (about 470 billion yen) in the same period last year. increase.
Net income, which recorded a loss of $ 2 billion (about 280 billion yen) in the same period last year, turned into a profit of $ 6.7 billion (about $ 950 billion) in the second quarter of 2023. This net profit is reported to be the highest since the fourth quarter of 2020.
In addition, online store sales amounted to 53 billion dollars (about 7.55 trillion yen), an increase of about 4% from 50.8 billion dollars (about 7.24 trillion yen) in the same period last year. In addition, Amazon's cloud computing service business AWS revenue increased by about 12% from 19.74 billion dollars (about 2.64 trillion yen) in the same period last year to 22.14 billion dollars (about 3.15 trillion yen) ) and AWS is still believed to be on the cusp of growth in Q2 2023, although it falls short of the 33% growth rate reported from Q2 2021 to Q2 2022. Regarding AWS, CEO Andy Jassy said, 'AWS growth is stable.'
Advertising revenue has shown significant growth from $ 8.7 billion (about 1.24 trillion yen) in the same period last year to $ 10.6 billion (about 1.5 trillion yen), a 22% increase, and subscription services also increased last year. It is reported that it is growing at 9.89 billion dollars (about 1.4 trillion yen), an increase of 14% compared to the same period.
On the other hand, in November 2022, Amazon reported that the device business division, including Alexa, a voice assistant AI, had an annual operating loss of $ 5 billion (about 700 billion yen), and the future of the device business is uncertain. Although it is unclear, the small smart speaker ' Echo Pop ' and the tablet terminal ' Fire Max 11 ' will be released in May 2023, which will appeal to the company's favorable performance.
Amazon's Q2 2023 earnings report doesn't include things like ' Amazon Prime Day ' sales, which took place in early July 2023, so Wall Street analysts expect net sales in Q3 2023 We expect sales to reach 138 billion (about 19.68 trillion yen) to 143 billion dollars (about 20.39 trillion yen).
In response to the financial results report, Amazon's stock price has temporarily soared by more than 9%. Amazon's CFO Brian Olsavsky said, ``In the midst of a recession in the large tech industry, we have laid off thousands of employees , reviewed inventory placement, and implemented numerous cost-cutting measures over the past year. It's the result of that,' he said.
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