Amazon sales soar with boost from international markets

Amazon has reported an 11% increase in net sales to £105 billion ($134.4 billion) for the second quarter ending 30 June 2023.

Sales grew 11% to £64.9 billion ($82.5 billion) in North America, whilst international sales were up 10% to £23.3 billion ($29.7 billion).

This was driven by cost-saving in its fulfilment network, as well as providing Prime customers with "the fastest delivery speeds ever recorded".

The company's AWS (Amazon Web Services) segment saw sales increase 12% to £17.3 billion ($22.1 billion), with "growth stabilised as customers started shifting from cost optimisation to new workload deployment".

Net income totalled £5.2 billion ($6.7 billion), compared to a loss of £1.5 billion ($2 billion) in the third quarter of 2022.

Looking ahead, Amazon expects net sales between £108-112 billion ($138-143 billion) for the third quarter, with growth of 9-13%.

The company held its biggest Prime Day event on 11-12 July, in the third quarter, as members worldwide purchased more than 375 million items and saved over £1.9 billion ($2.5 billion).

Andy Jassy, CEO of Amazon, said: "It was another strong quarter of progress for Amazon. We continued lowering our cost to serve in our fulfilment network, while also providing Prime customers with the fastest delivery speeds we’ve ever recorded.

"We remain excited about what lies ahead for customers and the company."