Amazon: Operating income increased to $17.4 billion in the third quarter

Amazon.com, Inc has announced financial results for its third quarter ended September 30, 2024.

• Net sales increased 11% to $158.9 billion in the third quarter, compared with $143.1 billion in third quarter 2023. Excluding the $0.2 billion unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with third quarter 2023.
  • North America segment sales increased 9% year-over-year to $95.5 billion.
  • International segment sales increased 12% year-over-year to $35.9 billion.
  • AWS segment sales increased 19% year-over-year to $27.5 billion.
• Operating income increased to $17.4 billion in the third quarter, compared with $11.2 billion in third quarter 2023.
  • North America segment operating income was $5.7 billion, compared with operating income of $4.3 billion in third quarter 2023.
  • International segment operating income was $1.3 billion, compared with an operating loss of $0.1 billion in third quarter 2023.
  • AWS segment operating income was $10.4 billion, compared with operating income of $7.0 billion in third quarter 2023.
• Net income increased to $15.3 billion in the third quarter, or $1.43 per diluted share, compared with $9.9 billion, or $0.94 per diluted share, in third quarter 2023.
• Operating cash flow increased 57% to $112.7 billion for the trailing twelve months, compared with $71.7 billion for the trailing twelve months ended September 30, 2023.
• Free cash flow increased to $47.7 billion for the trailing twelve months, compared with $21.4 billion for the trailing twelve months ended September 30, 2023.
• Free cash flow less principal repayments of finance leases and financing obligations increased to $44.9 billion for the trailing twelve months, compared with $15.9 billion for the trailing twelve months ended September 30, 2023.
• Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $46.1 billion for the trailing twelve months, compared with $20.2 billion for the trailing twelve months ended September 30, 2023.

“As we get into the holiday season, we’re excited about what we have in store for customers,” said Andy Jassy, Amazon President & CEO.

For additional highlights from the quarter, visit aboutamazon.com/news/company-news/amazon-earnings-q3-2024-highlights.

Fourth Quarter 2024 Guidance

• Net sales are expected to be between $181.5 billion and $188.5 billion, or to grow between 7% and 11% compared with fourth quarter 2023. This guidance anticipates an unfavorable impact of approximately 10 basis points from foreign exchange rates.
• Operating income is expected to be between $16.0 billion and $20.0 billion, compared with $13.2 billion in fourth quarter 2023.
• This guidance assumes, among other things, that no additional business acquisitions, restructurings, or legal settlements are concluded.