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Amazon’s total sales rose by 11% in Q2. While cloud services continued to slow, e-commerce and the marketplace returned to sustained growth. To improve efficiency in the last mile and speed up deliveries still further, the group is rethinking the logistics strategy in the U.S.A.
On August 3, 2023, Amazon published results for Q2, showing a return to growth in the e-commerce business. Sales totaled US$134.4 billion vs $121.2 billion a year earlier. This is a 11% growth at constant rates. As results exceeded forecasts, the company’s shares gained more than 9% after the close of trading on the New York Stock Exchange.
After a wave of mass redundancies, the Seattle giant returned to profitability with a net profit of US$6.75 billion, compared with a US$2.03-billion loss in Q2 2022.