US' Amazon's sales up 11% YoY to $638 bn in 2024, income surges

Sales in North America increased 10 per cent YoY to $387.5 billion, while international segment sales increased 9 per cent YoY to $142.9 billion or increased 10 per cent excluding changes in foreign exchange rates, Amazon said in a press release.

The net income of the company increased 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.

The operating income in North America 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.

“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 chief-executive officer (CEO) at Amazon.

Fourth quarter 2024

The net sales of the company increased 10 per cent YoY to $187.8 billion in the fourth quarter (Q4), compared to $170.0 billion in Q4 of 2023. The North American segment sales increased 10 per cent YoY to $115.6 billion. International segment sales increased 8 per cent YoY to $43.4 billion or increased 9 per cent excluding changes in foreign exchange rates.

The operating income of the company increased to $21.2 billion in Q4 compared to $13.2 billion in Q4 2023. North America’s operating income was $9.3 billion, compared with operating income of $6.5 billion in Q4 2023. International segment operating income was $1.3 billion, compared with an operating loss of $0.4 billion in the fourth quarter of 2023.

The net income of the company increased to $20.0 billion in Q4, or $1.86 per diluted share, compared with $10.6 billion, or $1.00 per diluted share, in Q4 of 2023.

Outlook for Q1 2025

For the first quarter (Q1) of FY25, Amazon expects net sales between $151.0 billion and $155.5 billion, or to grow between 5 per cent and 9 per cent compared with first quarter 2024. The company also anticipates an unusually large, unfavourable impact of $2.1 billion, or 150 basis points, from foreign exchange rates. It expects operating income between $14.0 billion and $18.0 billion, compared with $15.3 billion in the first quarter of 2024.

Fibre2Fashion News Desk (SG)