Amazon Reports Record-Breaking Q4 2024 Earnings with 10% Revenue Growth
Amazon has once again delivered an impressive financial performance, announcing record-breaking earnings for the fourth quarter of 2024. The retail and cloud computing giant reported a 10% increase in net sales , reaching a staggering $187.8 billion , compared to $170 billion in Q4 2023. If you adjust for foreign exchange fluctuations, that growth jumps to 11% year-over-year —a clear indicator of Amazon’s continued dominance in e-commerce and cloud computing.
Breaking it down, North America led the charge with a 10% year-over-year increase in sales, bringing in $115.6 billion , while International sales rose by 8% , totaling $43.4 billion . The real standout, however, was Amazon Web Services (AWS) , which continues to be a financial powerhouse for the company. AWS saw a 19% increase in sales , reaching $28.8 billion , reinforcing its position as the leader in cloud computing services.
But it’s not just revenue that’s soaring—Amazon’s operating income jumped to $21.2 billion , a massive leap from $13.2 billion in Q4 2023 . That’s a nearly 60% increase in profits! The company’s net income also doubled , reaching $20 billion , compared to $10.6 billion last year . Earnings per share reflected this surge, rising from $1.00 to $1.86 per diluted share .
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Full-Year 2024 Performance
Looking at the bigger picture, Amazon closed out 2024 with $638 billion in total sales , marking an 11% increase from 2023 . AWS alone generated $107.6 billion , up 19% year-over-year . The company’s free cash flow also saw strong growth, reaching $38.2 billion , showing its ability to generate significant profits while reinvesting in expansion and innovation.
CEO Andy Jassy credited the success to a record-breaking holiday shopping season , rapid Prime deliveries , and major advancements in AWS technology. He highlighted innovations such as Amazon’s new AI chip, Trainium2, and the launch of Amazon Nova foundation models , which aim to enhance AI-driven services for businesses.
Key Milestones and Achievements
Amazon’s Q4 2024 was packed with milestones, including:
- Fastest Prime deliveries ever , with a 65% increase in same-day or overnight deliveries compared to Q4 2023.
- Record-breaking Black Friday and Cyber Monday sales, benefiting both Amazon and independent sellers.
- Being named the lowest-priced U.S. retailer for the eighth consecutive year, with prices 14% lower than competitors.
- A massive streaming success , as 50 million viewers tuned in to watch "Red One" on Prime Video, making it the studio’s biggest debut ever.
- Thursday Night Football on Prime Video saw an 11% increase in viewership , averaging 13.2 million viewers per game .
- AWS expanded globally , launching new data centers in Thailand and Mexico and securing major contracts with companies like Intuit, PayPal, Reddit, and Japan Airlines .
What’s Next?
Looking ahead to Q1 2025 , Amazon expects net sales to be between $151 billion and $155.5 billion , marking another potential 5-9% growth . The company acknowledges headwinds, including foreign exchange fluctuations and economic uncertainties , but remains optimistic about continued innovation and expansion.
Amazon’s performance underscores its ability to adapt, grow, and dominate across multiple industries—from retail and logistics to cloud computing and AI. If this trajectory continues, Amazon’s future looks brighter than ever.
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