Amazon Q2 Earnings: Revenue Rises 11% as CEO Touts ‘Strong Demand’ for Advertising

sales hit $134.4 billion, up 11%, for the second quarter of 2023, as the ecommerce giant topped Wall Street estimates in a big earnings beat.

Sales in Amazon’s AWS cloud-computing business grew 12% year-over-year to $22.1 billion — while advertising revenue in Q2 jumped 22% to $10.68 billion . Under its 11-year pact with the NFL, Amazon is reportedly paying about $1 billion annually for exclusive rights to 15 regular-season games and one preseason game per year.

For the third quarter, Amazon expects revenue to be $138 billion-$143 billion, or to grow between 9% and 13% compared with Q3 2022. Operating income is expected to be between $5.5 billion and $8.5 billion, compared with $2.5 billion in the year-earlier period.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Robinhood reports drop in crypto revenue in latest earnings reportRobinhood’s transaction-based revenue derived from cryptocurrencies dropped 18 percent due in part to fewer customers placing trades.
Bron: TheBlock__ - 🏆 464. / 53 Lees verder »

Here's the trade on Amazon heading into earnings, according to analystsAmazon reports second-quarter earnings after the bell Thursday.
Bron: CNBC - 🏆 12. / 72 Lees verder »

Amazon set to report second-quarter earnings after the bellAmazon investors will be focused on cloud revenue growth, retail margins and commentary around artificial intelligence in the company's earnings report.
Bron: CNBC - 🏆 12. / 72 Lees verder »