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Explosive growth for Amazon: 10 billion in profits in one summer

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Not only is the amount very high, but it also greatly exceeds financial market forecasts. They were rather counting on7.7 billion dollars, but Amazon exploded its score. The summer of 2023 has therefore been very successful for the company, and shareholders are certainly rubbing their hands right now. News which confirms that the company is quietly continuing its exit from the crisis. These increased profits are also accompanied by a rather significant increase in turnover.

Impressive financial performance

Compared to the Last year, the firm's turnover increased by 13% to reach an impressive $143 billion.. A sum almost equivalent to the GDP of Morocco, no less. A performance that analysts did not expect either.

In addition to this nice increase in turnover, operating profit is also climbing. It quadrupled and reached the threshold of $11.2 billion. Figures that perfectly reflect the strength of Amazon in the market, which does not move from its throne.

The CEO of Amazon explains that part of this success corresponds to the new strategy put in place by the company to optimize their deliveries, particularly in the USA. Optimization of the order processing network which mainly concerns Prime subscribers.

Technological challenges and innovations

Without talking about raw financial performance, Amazon continues to innovate in two domains: artificial intelligence and the cloud. Their AWS cloud service still remains the undisputed market leader today. Its revenue rose 12% in the third quarter of this year and now stands at $23 billion.

However, Amazon is lagging slightly< /strong>in the field of AI, particularly against behemoths like Google and Microsoft. Andy Jassy wants to be reassuring on this aspect, and assures that the company will invest more widely in the field, and more specifically in generative AI. The Alexa voice assistant, for example, has greatly improved in recent times and has increased functionality.

Amazon has also been able to place its money strategically, by investing four billion dollars in the start-up Anthropic, responsible for the Claude language model, one of ChatGPT's competitors.

One might believe that Amazon's renewed health would only be due to #8217;to the post-pandemic economic recovery, but that would be simplifying reality. The company knows how to adapt, innovate, and take advantage of the upward currents at the right time. Other reasons, less glamorous, are certainly part of the magic equation.

  • Amazon tripled its profits in the summer of 2023: 10 billion dollars.
  • A turnover which is also up 13% and which reaches 143 billion dollars.
  • Amazon continues to innovate in its cloud services and in the AI ​​sector.

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116