Strong AWS performance drives Q2 revenues for Amazon

Amazon has announced financial results for Q2 ended June 30, 2022, reporting revenue of $19.7bn for its cloud segment, Amazon Web Services (AWS), representing year-on-year growth of 33 percent.

Revenue from AWS beat estimates, with analysts polled by StreetAccount expecting $19.56bn for the quarter.

AWS operating income totaled $5.72bn, up 36 percent year-on-year and key for Amazon in Q2, with the company having reported $3.32bn in total operating income.

On an earnings call with investors, Brian Olsavskey, Amazon CFO, said: “AWS has seen a re-acceleration of revenue growth as customers have expanded their commitment to the cloud and selected AWS as their cloud partner.”

In Q2, AWS announced a number of commitments and migrations from customers across many industries and geographies, including Delta Air Lines and BT.

During the quarter, AWS strengthened its partner network of more than 100,000 systems integrators and independent software vendors that adapt their technology to run on or integrate with AWS. IBM expanded its relationship with AWS and will offer its software catalog as-a-Service (SaaS) on AWS, providing customers with easy access to IBM’s automation, data and AI, security, and sustainability software.