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

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Amazon 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. The company reported income of $6.7 billion for …

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.

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