Amazon’s net sales increased 11% in the second quarter of 2023. Credit: Daniel Holland on Unsplash.

E-commerce retailer Amazon has delivered $134.4bn in sales in the second quarter (Q2) of fiscal year (FY) 2023, an increase of 11% from $121.2bn in the same period in 2022.

During the quarter ending 30 June 2023, sales in North America and International segments increased 11% and 10% respectively over the quarter.

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The company posted an operating income of $7.7bn in Q2 FY23, against $3.3bn in the prior year’s quarter, driven by the North American segment’s operating income of $3.2bn.

Its net income for the quarter was $6.7bn, versus a $2.0bn net loss in Q2 FY22 and its earnings per diluted share (EPS) were $0.65 in Q2 FY23 against $0.20 in the same period a year ago.  

The retailer reported total sales of $261.7bn in the first half (H1) of FY23, compared to $237.6bn in H1 FY22.

Amazon CEO Andy Jassy said: “It was another strong quarter of progress for Amazon. We continued lowering our cost to serve in our fulfilment network while also providing Prime customers with the fastest delivery speeds we’ve ever recorded.

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“We’re also continuing to see strong demand for our advertising services as the team keeps innovating for brands, including the ramp up for Thursday Night Football with the ability for advertisers to tailor their spots by audience and create interactive experiences for consumers. We remain excited about what lies ahead for customers and the company.”

In the Q3 of FY23, Amazon expects net sales to grow between 9% and 13% to between $138.0bn and $143.0bn.

It also anticipates Q3 operating income to be between $5.5bn and $8.5bn.

The retailer recently expanded its operations and transportation network in Michigan with a new advanced robotics fulfilment centre (FC) in Detroit.