The e-commerce giant Amazon has recorded a total sum of $10,683 million from net sales through its advertising services in Q2FY23, marking a 21.99% YoY increase. In the corresponding quarter of the previous year, it accumulated $8,757 million.
The second quarter of the current fiscal year saw Amazon’s Net Sales from Advertising Services surging 21.99% YoY from $8,757 million in Q2FY22 to reaching $10,683 million in Q2FY23.
Along with the surge in income from advertising, the e-commerce player’s sales from Subscription services also rose to $9894 million, up 13.53% YoY, from the corresponding quarter of last fiscal year wherein it amassed $8716 million.
On the other hand, the company’s listing shows that it had spent a sum total of $1303 million in Sales and Marketing in Q2 of FY23, which is 31.62% up YoY, juxtaposed with $990 million it had spent in Q2FY22.
Andy Jassy, CEO, Amazon, said “It was another strong quarter of progress for Amazon.”
“We continued lowering our cost to serve in our fulfillment network, while also providing Prime customers with the fastest delivery speeds we’ve ever recorded,” he said.
He also pointed out that Amazon is seeing continuously strong demand for its 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.
The company’s filing also announced that having completed 10 years of Amazon.in and having enabled cumulative e-commerce exports of over $7 billion, Amazon India has a goal to enable cumulative e-commerce exports of $20 billion, digitize 10 million small businesses, and create 2 million jobs in the country by 2025.
