Amazon saw its sales increase by 11% in the second quarter of 2023

Today, Amazon announced its Q2 2023 results, which saw sales increase 11% in the quarter. Revenue hit $134.4 billion as Amazon appears very pleased with its Q2 numbers. Amazon also saw its ad business hit $10.4 billion, up 22% year-over-year.

“It was another solid quarter of progress for Amazon,” said Andy Jassy, ​​CEO of Amazon. “We have continued to reduce our costs to serve in our distribution network, while providing Prime customers with the fastest delivery speeds we have ever experienced. Our AWS growth leveled off as customers began to move from cost optimization to deploying new workloads, and AWS continued to solidify its significant leadership position in the cloud with a host of AI releases that allow companies to train and run models (Trainium and Inferentia chips), customize large language models to build generative AI applications and agents (Bedrock), and write code much more efficiently with CodeWhisperer. We also continue to see strong demand for our advertising services as the team continues to innovate for brands, including the ramp-up of Thursday night football with the possibility for advertisers to adapt their spots according to the audience and to create interactive experiences for consumers. We remain excited about what lies ahead for customers and the business.

Amazon subscriptions hit $9.894 billion, a 14% year-over-year jump.

Here are some highlights of Amazon’s Prime Video service announced today:

  • First AIR, which has released in more theaters worldwide than any previous Amazon Original film. The film then debuted on Prime Video and ranked No. 3 on Nielsen’s Top 10 Streaming list within the first three days of its release. The company has also created other Amazon Original movies and series, including the latest seasons of Tom Clancy’s Jack Ryanand Emmy winner The Marvelous Mrs. Maisel; the global spy thrillerCitadelwhich was the #1 title on Prime Video in nearly 200 countries and territories during its premiere weekend; and Emmy Award nominee Legal Departmentwhich was the #1 track on Freevee in the month it premiered and delivered the highest number of viewers in the US on Freevee in a single month.
  • Earned 68 Primetime Emmy Award nominations, including three Outstanding Comedy Series nominations for Prime Video’s The Marvelous Mrs. MaiselFreevee Legal Department, and MGM Wednesday. Legal Department became the first commercial-based video-on-demand series nominated in a major Emmy category, while The Marvelous Mrs. Maisel became the most nominated streaming comedy in Emmy history with 80 nominations over its five seasons. Daisy Jones and the six also earned nine nominations and The Lord of the Rings: The Rings of Powerwon six nominations.
  • Expanded Prime Video’s international content lineup with over 40 new local original Amazon content and live sporting events. Medellin (France) and My fault(Spain) became the most-watched local non-English original title in Prime Video history outside of its home territory. New global programming also included Deadloch(Australia), Caravan of Drags(Brazil),The Griffin (Germany), Dahad (India),Takeshi Castle(Japan),From Viaje con los DerbezSeason 3 (Mexico) and Lagos Gangs(Nigeria).
  • Launched Amazon MGM Studios Distribution to license content from the Amazon Original and MGM library to third parties following its debut on Prime Video. This will include movies and TV series, such as Coming 2 America And The Marvelous Mrs. Maisel, among others. The titles available span a variety of highly marketable formats and genres with distribution rights available.

Overall, it was a strong quarter, but Amazon later today, Amazon will have its quarterly earnings call and we’ll have full coverage of everything announced.

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