Amazon’s Quarterly Report: AWS Shines with $23.1 Billion, but Faces Tough Cloud Competition
Q3 2023 Sees Amazon's Total Net Sales Rise to $143.1 Billion, with AWS Reporting 12% YoY Growth
It’s that time of the year again when companies worldwide unveil their quarterly financial figures, and Amazon’s latest report doesn’t disappoint, largely thanks to the exceptional performance of its Amazon Web Services (AWS) cloud division.
Amazon’s financials for the third quarter of 2023 showcased robust growth, with total net sales climbing 11% year-over-year to reach a staggering $143.1 billion in the period leading up to September 30, 2023. Furthermore, the company’s performance in the preceding three months had been even more impressive, with a 13% increase over that period.
AWS, a cornerstone of Amazon’s business, was valued at $23.1 billion in Q3 2023, and it also experienced substantial growth, with a 12% year-over-year increase. The robust performance of AWS contributed significantly to Amazon’s success in this quarter.