AWS sales increased 16% year-over-year in Q1 2023 to reach $21.4 billion, representing 16% of Amazon.com overall revenue for the quarter.
Q1 operating income for AWS amounted to $5.123 billion, down 21% year-over-year and down 26% when adjusting for constant currency.
Andy Jassy, Amazon CEO, states "while our AWS business navigates companies spending more cautiously in this macro environment, we continue to prioritize building long-term customer relationships both by helping customers save money and enabling them to more easily leverage technologies like Large Language Models and Generative AI with our uniquely cost-effective machine learning chips (“Trainium” and “Inferentia”), managed Large Language Models (“Bedrock”), and AI code companion CodeWhisperer. We like the fundamentals we’re seeing in AWS, and believe there’s much growth ahead.”
Amazon also highlighted the following AWS customer wins for Q1:
- Southwest Airlines selected AWS as its preferred cloud provider for a large-scale modernization as part of the airline’s long-term plan to optimize airline operations, streamline infrastructure costs, and provide a more seamless and enjoyable travel experience to customers.
- Zurich Insurance Group is moving its enterprise information technology infrastructure, including 1,000 applications over the next three years, to AWS to deliver new digital customer experiences and drive automation at scale.
- BBVA is employing AWS’s extensive portfolio of cloud services to launch new financial solutions that will help BBVA Corporate and Investment Banking expand its business to accelerate innovation, reduce costs, scale quickly, and increase flexibility.
- Broadridge’s LTX electronic trading platform completed a successful migration of its corporate bond e- trading platform to AWS.
- S&P Global and AWS announced a multiyear strategic collaboration to extend the delivery of advanced, secure, cloud-based services to more than 100,000 of S&P Global’s government and enterprise customers in 43 countries around the world.
- Snowflake and AWS announced a new commitment to build joint industry-specific solutions, increase sales collaboration, and deepen product integration, including further streamlining running Snowflake on Graviton processors. Approximately 84% of Snowflake’s customers run their deployments on AWS to rapidly innovate.
- Stripe announced a new global agreement to run virtually all their infrastructure on AWS while reliably serving millions of internet companies.
- Westpac, one of Australia’s leading banks, expanded its collaboration with AWS through a new five-year agreement that will tap into advanced AWS capabilities, like machine learning, compute, and data analytics, to further accelerate the bank’s digital transformation, drive cost efficiencies, and personalize its banking applications.
- T-Mobile is integrating its 5G Advanced Network Solutions portfolio with AWS to help customers more easily discover, customize, and deploy 5G edge computing.
- Marvell selected AWS to rapidly scale its electronic design automation in the cloud to address increasingly complex chip design processes and deliver continuous innovation for expanding needs across the automotive, carrier, data center, and enterprise infrastructure markets.
- TELUS, one of Canada’s leading telecommunications providers, is collaborating with AWS to develop a new smart-living solution that will reduce the need for multiple smart-home apps, simplify installation, and enable new multidevice automation.
- Iberdrola, one of the world’s largest clean energy companies, selected AWS as its preferred cloud provider to support the energy company as it embarks on further digitalization to enable smarter grids, customer engagement, and connected clean power.
https://s2.q4cdn.com/299287126/files/doc_financials/2023/q1/Q1-2023-Amazon-Earnings-Release.pdf
