Amazon Q2 earnings: Here's what you need to know

Amazon announced financial results for Q2 2024. Check out the remarks from CEO Andy Jassy and CFO Brian Olsavsky, plus highlights from the quarter.

Amazon announced financial results for Q2 2024. In case you missed it, you can listen to the earnings call replay and read the press release on our investor relations site .

Announcements since our last earnings result in April 2024 include that Amazon:

• Held its 10th Prime Day, the company's biggest Prime Day shopping event yet . Prime members shopped millions of deals across more than 35 categories, and purchased more items than any previous Prime Day shopping event.
• Continued to delight customers with fast delivery and convenient returns. Amazon delivered to Prime members at its fastest speeds ever globally so far this year, with over 5 billion units arriving the same or next day.
• Continued expanding selection in the U.S., including Aéropostale, Bumble and bumble, and Kiehl’s.
• Announced Grubhub+ is now free with Prime in the U.S., and customers can place takeout orders directly on Amazon. Prime members save $300 per year on average on delivery fees and promotions with Grubhub+.
• Announced Amazon Pharmacy’s RxPass now offers Prime members on Medicare unlimited consumption of 60 broadly-used prescription medications for just $5 a month, plus fast, free delivery.
• Launched Maestro , a new Amazon Music AI playlist generator that uses AI technology to make it easier and way more fun for customers to build playlists.
• Introduced AI-powered search for Fire TV devices . From the very first Fire TV device to the new AI-powered Fire TV Search experience, Fire TV continues to innovate for customers after 10 years.
• Launched Amazon.co.za in South Africa . Customers in South Africa can now shop from a wide variety of local and international brands, take advantage of great prices, and enjoy same-day and next-day delivery.
• Hosted Amazon’s inaugural Upfront presentation, where Amazon shared the top announcements around new series, films, and sports coming to Prime Video.
• Released 19 films and series from Amazon MGM Studios, including Fallout , Season 4 of The Boys , and The Idea of You .
• Scored 62 Emmy nominations , with Prime Video’s Mr. & Mrs. Smith and Fallout among the top nominees. Amazon MGM Studios’ Red, White & Royal Blue , Invincible , Fargo , Survivor , Shark Tank , The Voice , and Vanderpump Rules were also nominated.
• Reached a landmark 11-year streaming deal with the NBA and the WNBA for Prime Video to be the exclusive streaming service for 66 regular-season NBA games beginning in 2025, as well as regular and postseason WNBA games beginning in 2026.
• Released the Thursday Night Football schedule for the 2024 NFL season on Prime Video with its most extensive schedule yet, including exclusive coverage of Thursday Night Football, Black Friday Football , and the first-ever NFL Wild Card Playoff game.
• Revealed New World: Aeternum from Amazon Games, releasing October 15 on PlayStation 5, Xbox Series X|S, and PC.
• Announced availability of the Anthropic Claude 3.5 Sonnet , Meta Llama 3.1 (featuring their new 405B model), and Mistral’s Large 2 models in Amazon Bedrock.
• Shared that companies like AXA, DoorDash, Nasdaq, Rocket Insurance, SAP, Thomson Reuters, Workday, WPP, and Zendesk all announced new applications built on Bedrock.
• Delivered new AWS Graviton4-based compute instances , providing up to 30% better price-performance than the industry-leading AWS Graviton3 instances.
• Signed new AWS agreements with Commonwealth Bank of Australia, Databricks, Discover Financial Services, Eli Lilly and Company, Experian, GE HealthCare, NetApp, Scopely, ServiceNow, Shutterfly, and many others—as well as AI startups Perplexity AI, H Company, and Observea.
• Announced a new guided workflow for Amazon Q in Connect , the general availability of Amazon Q Apps , a preview of AWS App Studio , and contextual grounding check in Guardrails for Amazon Bedrock .
• Announced an AUD $2 billion strategic partnership with the Australian Government to provide a “Top Secret” AWS Cloud to enhance the nation’s defense and intelligence capabilities.
• Announced the launch of an AWS infrastructure Region in Taiwan by early 2025, which will enable customers to run workloads and securely store their content in Taiwan while serving end users with even lower latency.
• Made advancements in new innovative businesses, including an agreement with Vrio companies DIRECTV Latin America and Sky Brasil to use Amazon’s satellite broadband network (Kuiper), the addition of Austin and Miami as the fourth and fifth public testing locations for self-driving robotaxi Zoox , and U.S. Federal Aviation Administration permissions for Prime Air to operate drones beyond visual line of sight .
• Was named by LinkedIn as a top U.S. company where people want to work and grow a career for the seventh year in a row, ranking No. 2 on the Top Companies list and No. 1 in the technology sector.
• Met its 100% renewable energy goal seven years early. All of the electricity consumed by Amazon’s operations, including its data centers, was matched with 100% renewable energy in 2023.
• Replaced 95% of the plastic air pillows from Amazon’s delivery packaging in North America with paper filler.
• Announced an additional $1.4 billion commitment to the Housing Equity Fund , bringing Amazon’s total commitment to $3.6 billion to build and preserve affordable homes.