Blackbaud announced financial results for its second quarter ended June 30, 2023. Then, IFS announced its financial results for the first half of 2023 ending June 30th, 2023. Finally, Amazon.com, Inc. announced financial results for its second quarter ended June 30, 2023.
Hi and welcome to episode 99 of The ERP Minute. I am your host, Rebekah McCabe.
This was a major week for financial result releases within the ERP space, with announcements from Blackbaud, IFS, and Amazon.
First, Blackbaud announced financial results for its second quarter ended June 30, 2023. GAAP total revenue was $271 million, up 2.3%, with $262.4 million in GAAP recurring revenue, up 3.9%. We expect Blackbaud to continue to stride toward continued growth as we enter the third and fourth quarters of 2023.
Then, IFS announced its financial results for the first half of 2023 ending June 30th, 2023. Annual recurring revenue was up 55% year-over-year, with cloud revenue up 55% and software revenue up 44%, representing a 79% share of total revenue. Total revenue was 493 million Euros, an increase of 38% versus H1 2022. IFS continues to expand its reach, reflected in these significant financial results. We expect IFS to reach new heights in late 2023 and beyond.
Finally, Amazon.com, Inc. announced financial results for its second quarter ended June 30, 2023. Within those financial results, Amazon detailed the financial results for AWS. AWS segment sales increased 12% year-over-year to $22.1 billion, with AWS segment operating income of $5.4 billion, compared with operating income of $5.7 billion in the second quarter of 2022. Additionally, AWS continued to expand its infrastructure footprint to meet customer demand, launching AWS Local Zones in Auckland, New Zealand, and Manila, Philippines, and an Amazon CloudFront location in Nigeria. This further demonstrates how vital cloud infrastructure is and will continue to be, as more and more companies look to take the next technological step.
Thanks for tuning into The ERP Minute. We are always looking for newsworthy material to share with our listeners, so send us breaking ERP news! Be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.
