Amazon reports hike in Q4 sales

Amazon’s holiday shopping season was the most successful yet due to the support of customers, selling partners and employees, said Andy Jassy, president and CEO, in delivering the company’s fourth quarter results.

“When we look back on this quarter several years from now, I suspect what we’ll most remember is the remarkable innovation delivered across all of our businesses, none more so than in AWS where we introduced our new Trainium2 AI chip, our own foundation models in Amazon Nova, a plethora of new models and features in Amazon Bedrock that give customers flexibility and cost savings, liberating transformations in Amazon Q to migrate from old platforms, and the next edition of Amazon SageMaker to pull data, analytics, and AI together more concertedly," Jassy said. "These benefits are often realized by customers (and the business) several months down the road, but these are substantial enablers in this emerging technology environment and we’re excited to see what customers build.”

Amazon’s net sales increased 10% to $187.8 billion in the fourth quarter, compared with $170 billion in the prior year period. Excluding the $.9 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with the fourth quarter 2023.

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Amazon’s North America segment sales increased 10% year-over-year to $115.6 billion.

The company’s international segment sales increased 8% year-over-year to $43.4 billion, or increased 9% excluding changes in foreign exchange rates.

Amazon’s AWS segment sales increased 19% year-over-year to $28.8 billion.

The retailer’s operating income increased to $21.2 billion in the fourth quarter, compared with $13.2 billion in fourth quarter 2023.

Amazon’s North America segment operating income was $9.3 billion, compared with operating income of $6.5 billion in the prior year period.

Amazon’s international segment operating income was $1.3 billion, compared with an operating loss of $.4 billion in the fourth quarter 2023.

Amazon’s AWS segment operating income was $10.6 billion, compared with operating income of $7.2 billion in fourth quarter 2023.

The company’s net income increased to $20 billion in the fourth quarter, or $1.86 per diluted share, compared with $10.6 billion, or $1.00 per diluted share, in the fourth quarter 2023.

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Full Year 2024:

For the full year, net sales increased 11% to $638 billion in 2024, compared with $574.8 billion in 2023. Excluding the $2.3 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 11% compared with 2023.

Amazon’s North America segment sales increased 10% year-over-year to $387.5 billion.

International segment sales increased 9% year-over-year to $142.9 billion, or increased 10% excluding changes in foreign exchange rates.

AWS segment sales increased 19% year-over-year to $107.6 billion.

Operating income increased to $68.6 billion in 2024, compared with $36.9 billion in 2023.

Amazon’s North America segment operating income was $25 billion, compared with operating income of $14.9 billion in 2023.

Amazon’s international segment operating income was $3.8 billion, compared with an operating loss of $2.7 billion in 2023.

The retailer’s AWS segment operating income was $39.8 billion, compared with operating income of $24.6 billion in 2023.

Amazon’s net income increased to $59.2 billion in 2024, or $5.53 per diluted share, compared with $30.4 billion, or $2.90 per diluted share, in 2023.

The company’s operating cash flow increased 36% to $115.9 billion for the trailing 12 months, compared with $84.9 billion for the trailing 12 months ended Dec. 31, 2023.

Amazon's free cash flow increased to $38.2 billion for the trailing 12 months, compared with $36.8 billion for the trailing twelve months ended Dec. 31, 2023.

The company's free cash flow less principal repayments of finance leases and financing obligations increased to $35.5 billion for the trailing 12 months, compared with $32.2 billion for the trailing 12 months ended Dec. 31, 2023.

Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $36.2 billion for the trailing 12 months, compared with $35.5 billion for the trailing 12 months ended Dec. 31, 2023.