Summary
Amazon.com, Inc. reported a strong financial performance for the fiscal year ending December 31, 2023. The company demonstrated significant growth in net sales, which increased by 12% year-over-year to $574.8 billion. This growth was observed across its key segments, with North America sales up 12%, International sales up 11%, and AWS sales increasing by 13%, indicating broad-based demand for its diverse offerings. The company also showed a substantial improvement in profitability, with operating income more than tripling to $36.9 billion, driven by improved performance in the North America segment and continued strength in AWS. Looking ahead, Amazon provided guidance for the first quarter of 2024, expecting net sales to grow between 8% and 13% and operating income to be between $8.0 billion and $12.0 billion. The company continues to invest in technology and infrastructure, particularly in AWS, and its fulfillment network to support future growth. Despite facing intense competition and various risk factors inherent in its global operations, Amazon's financial results and forward-looking guidance suggest a positive outlook for continued expansion and profitability.
Financial Highlights
54 data points| Revenue | $574.78B |
| Cost of Revenue | $304.74B |
| Gross Profit | $270.05B |
| Operating Expenses | $537.93B |
| Operating Income | $36.85B |
| Interest Expense | $3.18B |
| Net Income | $30.43B |
| EPS (Basic) | $2.95 |
| EPS (Diluted) | $2.90 |
| Shares Outstanding (Basic) | 10.30B |
| Shares Outstanding (Diluted) | 10.49B |
Key Highlights
- 1Net sales grew 12% year-over-year to $574.8 billion, driven by solid performance across North America, International, and AWS segments.
- 2Operating income significantly increased to $36.9 billion, more than tripling from the previous year, reflecting improved profitability, particularly in the North America segment.
- 3AWS segment revenue grew 13% year-over-year to $90.8 billion, demonstrating continued demand for cloud services.
- 4The North America segment returned to strong operating income ($14.9 billion) after an operating loss in the prior year, driven by increased unit sales and advertising.
- 5Free cash flow turned positive, reaching $36.8 billion for the year, a significant improvement from the negative free cash flow in the prior year.
- 6Amazon provided optimistic guidance for Q1 2024, expecting net sales growth of 8-13% and operating income between $8.0 billion and $12.0 billion.