Amazon’s net sales grew 9% year-over-year to $127.4 billion in Q1 2023. Net income was $3.2 billion for the period, compared with a net loss of $3.8 billion in Q1 2022. Growth in both retail sales and AWS services was slow compared to past quarters, in line with the uncertainty the retailer warned about earlier in the year, but investments in generative AI could pay off in the near future.
Amazon put an emphasis on convenience as a driver for its retail business during the quarter: nearly 26 million customers utilized same-day delivery, up 50% compared to Q1 2022, according to CEO Andy Jassy.
