Amazon.com, Inc. reported a consolidated revenue of $637.96 billion for the fiscal year ended December 31, 2024, marking an 11% increase from $574.79 billion in 2023. The company's net income also saw significant growth, rising to $59.25 billion from $30.43 billion in the previous year. This increase in profitability was attributed to higher sales across all segments, particularly in Amazon Web Services (AWS), which experienced a 19% increase in revenue, reaching $107.56 billion.
In comparison to the previous fiscal year, Amazon's North America segment generated $387.50 billion in sales, a 10% increase, while the International segment grew by 9% to $142.91 billion. The company noted that foreign exchange rates negatively impacted net sales by approximately $2.3 billion in 2024. Despite these challenges, Amazon's focus on customer experience, including competitive pricing and fast shipping, contributed to increased unit sales and advertising revenue.
Strategically, Amazon continued to expand its operations, completing acquisitions such as 1Life Healthcare, Inc. for approximately $3.5 billion in 2023, aimed at enhancing its healthcare offerings. The company also invested significantly in technology and infrastructure, with capital expenditures rising to $77.66 billion in 2024, up from $48.13 billion in 2023. This investment is expected to support AWS growth and improve fulfillment capabilities.
Operationally, Amazon's workforce grew to approximately 1.56 million employees by the end of 2024, reflecting ongoing expansion efforts. The company also reported a total of 618 North American and 27 international physical stores, alongside a robust online presence. Engagement metrics showed continued customer adoption of services like Amazon Prime, which remains a key driver of revenue.
Looking ahead, Amazon anticipates net sales for the first quarter of 2025 to be between $151 billion and $155.5 billion, representing a growth rate of 5% to 9% compared to the same period in 2024. The company expects to face challenges from foreign exchange fluctuations and the impact of a leap year in 2024, which contributed approximately $1.5 billion in net sales. Overall, Amazon's strategic focus on innovation and customer-centric services positions it for continued growth in the evolving e-commerce landscape.
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