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Jun 30, 2023
Amazon Q2 2023 Earnings Report
Amazon's second quarter results showcased revenue growth and improved profitability.
Key Takeaways
Amazon's Q2 2023 results revealed an 11% increase in net sales to $134.4 billion, and operating income increased to $7.7 billion, compared to $3.3 billion in Q2 2022. Net income was $6.7 billion, a significant turnaround from the $2.0 billion net loss in Q2 2022.
Net sales increased by 11% to $134.4 billion compared to Q2 2022.
Operating income rose to $7.7 billion, a substantial increase from $3.3 billion in the prior year quarter.
AWS segment sales grew by 12% year-over-year, reaching $22.1 billion.
Net income reached $6.7 billion, or $0.65 per diluted share, a significant improvement from the net loss of $2.0 billion in Q2 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Amazon anticipates net sales between $138.0 billion and $143.0 billion, representing a growth of 9% to 13% compared to Q3 2022. Operating income is projected to be between $5.5 billion and $8.5 billion, compared to $2.5 billion in Q3 2022.
Positive Outlook
- Net sales are expected to grow between 9% and 13% compared with third quarter 2022.
- Guidance anticipates a favorable impact of approximately 120 basis points from foreign exchange rates.
- Operating income is expected to be between $5.5 billion and $8.5 billion, compared with $2.5 billion in third quarter 2022.
- Growth in AWS due to new workload deployment.
- Strong demand for advertising services.
Challenges Ahead
- Results may be materially affected by fluctuations in foreign exchange rates.
- Changes in global economic and geopolitical conditions and customer demand and spending (including the impact of recessionary fears) can affect the results.
- Inflation and interest rates may impact the financial results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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