Amazon has reported an increase in profits for the second quarter of the year and increased its guidance for the next quarter as cost-cutting measures paid off.
In the quarter ending June 2023, Amazon reported a net income of $6.7bn (£5.2bn), as compared with the net loss of $2bn (£1.57bn) the business reported at the same time last year.
Net sales increased by 11% to $134.4bn (£105.6bn) as compared with $121.2bn (£95.3bn) in the second quarter of 2022.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.