Amazon Q2 2024 Earnings Report
Key Takeaways
Amazon's second quarter 2024 results show a strong performance with net sales increasing by 10% to $148.0 billion and operating income increasing to $14.7 billion. Net income also saw a substantial increase to $13.5 billion, or $1.26 per diluted share.
Net sales increased by 10% to $148.0 billion.
Operating income increased to $14.7 billion.
Net income increased to $13.5 billion, or $1.26 per diluted share.
AWS segment sales increased 19% year-over-year to $26.3 billion.
Amazon
Amazon
Amazon Revenue by Segment
Forward Guidance
Amazon anticipates net sales between $154.0 billion and $158.5 billion, representing growth between 8% and 11% compared to the third quarter of 2023. The company expects operating income to be between $11.5 billion and $15.0 billion, compared to $11.2 billion in the third quarter of 2023.
Positive Outlook
- Net sales are expected to grow between 8% and 11% compared with third quarter 2023.
- Operating income is expected to be between $11.5 billion and $15.0 billion.
- Continued progress on various dimensions.
- Reacceleration in AWS growth.
- Customers' top choice for cloud services.
Challenges Ahead
- Guidance anticipates an unfavorable impact of approximately 90 basis points from foreign exchange rates.
- Results are inherently unpredictable.
- Materially affected by fluctuations in foreign exchange rates.
- Changes in global economic and geopolitical conditions and customer demand and spending.
- Impact of recessionary fears, inflation, interest rates, regional labor market constraints, world events.
Revenue & Expenses
Visualization of income flow from segment revenue to net income