Amazon increased its net profits by 95% during 2024

Amazon has announced net profits of 59.248 billion dollars in the 2024 financial year, representing an increase of 95% compared to the previous year. In a statement, the company led by Andy Jassy reported cumulative net sales of $637.959 billion, 11% higher than in 2023, with growth in its main segments, especially in the intelligent cloud, Amazon Web Services (AWS).

“The holiday shopping season was Amazon's most successful ever, and we appreciate the support of our customers, business partners, and employees who helped make it that way,” said Andy Jassy. 

“When we look back on this quarter in several years, I suspect what we will remember most is the remarkable innovation delivered across all our businesses, none more so than at AWS, where we unveiled our new Trainium2 AI chip, our own base models in Amazon Nova, a host of new models and features in Amazon Bedrock that give customers flexibility and cost savings as well as the change in Amazon Q,  migrate from old platforms, and the upcoming edition of Amazon SageMaker to bring data, analytics, and AI together in a more concerted way” claimed Jassy. 

Customers (and the company) often realize these benefits several months later. Still, these are substantial enablers in this emerging technology environment, and we are excited to see what customers build,” the executive said.

Most of it came from North America

More specifically, by segment, in 2024, the bulk of revenue continued to come from the North American business ($387.497 billion, up 10%), followed by the international business ($142.906 billion, up 9%), and AWS ($107.556 billion, up 18%).

In the fourth and final quarter, Amazon reported a profit of 20,004 million dollars, 88% more than in the same period last year, and net sales of 187,792 million dollars, 10% more).

In this period, revenues from the North American segment reached $9.3 billion, compared to $7.7 billion a year ago; those from the international business totaled $1.3 billion; while AWS revenues reached $10.6 billion, compared to $7.2 billion in the fourth quarter of 2023.

Forecast for the first quarter of 2025

Looking ahead to the first quarter of this year, 2025, the company expects net sales to be between $151,000 000 and 155,500 million dollars, or that they will grow between 5% and 9% in comparison with the same period in 2024, while operating income is between 14,000 and 18,000 million dollars, compared to 15,300 million in the first quarter of 2024.