Amazon today reported strong financial results for the fourth quarter of 2024, demonstrating continued growth across its diverse businesses. Net sales increased 10% year-over-year to $187.8 billion, driven by growth in North America, International, and Amazon Web Services (AWS) segments. The company also highlighted significant advancements in its AI capabilities and a record-breaking holiday shopping season.
“The holiday shopping season was the most successful yet for Amazon and we appreciate the support of our customers, selling partners, and employees who helped make it so,” said Andy Jassy, President and CEO of Amazon. “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. 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.”
Key Financial Highlights:
- Net Sales: Increased 10% to $187.8 billion, or 11% excluding the impact of foreign exchange rates.
- North America: Sales increased 10% to $115.6 billion.
- International: Sales increased 8% to $43.4 billion, or 9% excluding foreign exchange rates.
- AWS: Sales increased 19% to $28.8 billion.
- Operating Income: Increased to $21.2 billion, compared with $13.2 billion in Q4 2023.
- Net Income: Increased to $20.0 billion, or $1.86 per diluted share, compared with $10.6 billion, or $1.00 per diluted share, in Q4 2023.
- Operating Cash Flow: Increased 36% to $115.9 billion for the trailing twelve months.
- Free Cash Flow: Increased to $38.2 billion for the trailing twelve months.
Full Year 2024 Highlights:
- Net Sales: Increased 11% to $638.0 billion.
- Operating Income: Increased to $68.6 billion.
- Net Income: Increased to $59.2 billion, or $5.53 per diluted share.
Business Highlights:
- Record Holiday Season: Amazon achieved its fastest delivery speeds ever for Prime members, delivering over 65% more items same-day or overnight compared to Q4 2023. The company also reported a record-breaking Black Friday Week and Cyber Monday, with strong performance from independent sellers.
- AWS Innovation: Amazon announced significant advancements in its AWS cloud computing platform, including the new Trainium2 AI chip, Amazon Nova foundation models, and new features for Amazon Bedrock and Amazon SageMaker.
- Entertainment Success: The Amazon MGM Studios film “Red One” drew 50 million viewers in its first four days, and “Thursday Night Football” on Prime Video saw an 11% viewership increase.
- Kindle Growth: Amazon reported its biggest Q4 for Kindle device sales in over a decade.
- Sustainability Leadership: Amazon was recognized as the world’s largest corporate purchaser of renewable energy for the fifth consecutive year.
Amazon provided guidance for the first quarter of 2025, anticipating net sales between $151.0 billion and $155.5 billion, representing growth of 5% to 9% compared with Q1 2024. The company expects operating income between $14.0 billion and $18.0 billion.
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