Amazon Q4 results: net sales increased 10% to $187.8 billion

 Amazon.com, Inc. today announced financial results for its fourth quarter ended December 31, 2024.

Fourth Quarter 2024

• Net sales increased 10% to $187.8 billion in the fourth quarter, compared with $170.0 billion in fourth quarter 2023. Excluding the $0.9 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with fourth quarter 2023.
  • North America segment sales increased 10% year-over-year to $115.6 billion.
  • International segment sales increased 8% year-over-year to $43.4 billion, or increased 9% excluding changes in foreign exchange rates.
  • AWS segment sales increased 19% year-over-year to $28.8 billion.
• Operating incomeincreased to $21.2 billion in the fourth quarter, compared with $13.2 billion in fourth quarter 2023.
  • North America segment operating income was $9.3 billion, compared with operating income of $6.5 billion in fourth quarter 2023.
  • International segment operating income was $1.3 billion, compared with an operating loss of $0.4 billion in fourth quarter 2023.
  • AWS segment operating income was $10.6 billion, compared with operating income of $7.2 billion in fourth quarter 2023.
• Net incomeincreased to $20.0 billion in the fourth quarter, or $1.86 per diluted share, compared with $10.6 billion, or $1.00 per diluted share, in fourth quarter 2023.

Full Year 2024

• Net sales increased 11% to $638.0 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.
  • 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 incomeincreased to $68.6 billion in 2024, compared with $36.9 billion in 2023.
  • North America segment operating income was $25.0 billion, compared with operating income of $14.9 billion in 2023.
  • International segment operating income was $3.8 billion, compared with an operating loss of $2.7 billion in 2023.
  • AWS segment operating income was $39.8 billion, compared with operating income of $24.6 billion in 2023.
• Net incomeincreased 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.
• Operating cash flowincreased 36% to $115.9 billion for the trailing twelve months, compared with $84.9 billion for the trailing twelve months ended December 31, 2023.
• Free cash flowincreased to $38.2 billion for the trailing twelve months, compared with $36.8 billion for the trailing twelve months ended December 31, 2023.
• Free cash flow less principal repayments of finance leases and financing obligationsincreased to $35.5 billion for the trailing twelve months, compared with $32.2 billion for the trailing twelve months ended December 31, 2023.
• Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligationsincreased to $36.2 billion for the trailing twelve months, compared with $35.5 billion for the trailing twelve months ended December 31, 2023.

“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, 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.”

Some other highlights since the company’s last earnings announcement include that Amazon:

• Delivered at its fastest speeds ever for Prime members in 2024.
• Delivered over 65% more items to U.S. Prime members the same day or overnight than in Q4 2023.