Companies

Amazon reports solid second quarter

Aug 29, 2023 United States

After a strong first quarter, the Seattle-based online retail giant continued its positive trajectory, once again reporting net sales and profit growth in the second quarter of 2023

“It was another strong quarter of progress for Amazon. We continued lowering our cost to serve in our fulfilment network, while also providing Prime customers with the fastest delivery speeds we've ever recorded”, commented Andy Jassy, Amazon CEO. (…) “We remain excited about what lies ahead for customers and the company”.

Second Quarter Results

In the three months to the 30^th of June, Amazon's total net sales grew by 11%, reaching 134.4 billion US dollars, on a comparable basis to the same period of 2022.

By segment, in the second quarter of fiscal 2023, the company's net sales amounted to 82.2 billion US dollars in North America, up by 11% from the second quarter of the previous year, while the international segment recorded a 10% year-over-year increase to 29.7 billion US dollars; the AWS segment saw its sales rise by 12% year-over-year to 22.1 billion US dollars.

In the second quarter of the current fiscal year, the online retailer's operating income totalled 7.7 billion US dollars, as compared to the operating income of 3.3 billion US dollars registered in the same quarter of 2022.

Amazon posted a 6.7 billion US dollars in net income in the second quarter of the year, or 0.65 US dollars per diluted share, on a comparable basis to the net loss of 2.0 billion US dollars, or 0.20 US dollars per diluted share, recorded in a similar period of the prior year.

Third Quarter Guidance

The US-based company is expecting to reach net sales between 138 billion US dollars and 143 billion US dollars in the third quarter of 2023 or to grow between 9% and 13%, as compared to the same quarter of 2022.

Additionally, its operating income should increase to between 5.5 billion US dollars and 8.5 billion US dollars from 2.5 billion US dollars in the third quarter of last year.

Image Credits: aboutamazon.com

United States Amazon ecommerce Online Quarter Results Results