Amazon reports a surge in top + bottom lines: E-commerce giant Amazon recorded a 433% y-o-y rise in net income to USD 6.7 bn in 2Q 2023 — rebounding from a net loss in the previous year, according to its earnings release (pdf). The company’s revenues during the period also saw an increase of 11% y-o-y to USD 134.4 bn. Operating income jumped 133.3% y-o-y in 2Q 2023 to reach USD 7.7 bn.

The positive results were driven by measures to reduce costs, including in its fulfillment network, which helped boost delivery speeds, Amazon CEO Andy Jassy said in the statement. Jassy also cited stabilizing AWS growth, as customers started shifting from cost optimization to new workload deployment, and AWS continuing to add to its position in the cloud with generative AI releases.

The company’s financial results got a lot of ink in the international press: The Wall Street Journal | NYT | CNBC.

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