Amazon (AMZN) reported its Q2 2023 earnings results on Thursday evening, within which the company revealed that its Amazon Web Services (AWS) revenue topped $22 billion despite the AWS segment making less profit than the prior year.
On Thursday, August 3, 2023, Amazon (AMZN) released its Q2 2023 earnings results. These results revealed that its web services, Amazon Web Services, topped $22 billion, a 12 percent increase year-on-year.
Additionally, AWS segment operating income was $5.4 billion, compared with the operating income of $5.7 billion in the second quarter of 2022. Interestingly, the AWS segment profits fell 5 percent from prior year.
The release featured several highlights about new commitments and migrations from AWS customers:
- Omnicom, a global marketing and communications company, will use AWS generative artificial intelligence (generative AI) and machine learning services, including Amazon Bedrock and Amazon EC2 Trn1n instances powered by AWS Trainium chips, to help accelerate advertising campaign development, including automating activities such as developing creative briefs, media plans, ad creative, audience segmentation, and performance measurement.
- 3M Health Information Systems is using AWS machine learning and generative AI services, including Amazon Bedrock, Amazon Comprehend Medical, and Amazon Transcribe Medical, to accelerate AI innovation in clinical documentation.
- KB Bank in South Korea reduced its operating costs by 20% using Amazon Elastic Kubernetes Service, Amazon Aurora, and Amazon CloudWatch, among other AWS services, to provide 70 key financial services to the bank’s 11 million monthly active users
Amazon’s earnings results revealed that the company beat EPS and revenue expectations. Read over the Shacknews earnings results page for the latest reports from companies that have delivered information this week.
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