Record-Breaking Quarterly Performance

Amazon.com Inc. announced on Thursday an impressive leap in its net sales for the fourth quarter of fiscal 2024, reaching $187.8 billion. This marks a significant 10.5% increase from the previous year, surpassing all expectations. The tech giant also reported a monumental 89% surge in net income to $20 billion, with diluted earnings per share soaring by 86% to $1.86.

Annual Financial Highlights

Over the 12 months ending December 31, 2024, Amazon's revenue climbed 11% to $637.9 billion compared to 2023. Net income saw a dramatic rise of 95% to $59.2 billion, and diluted EPS increased by 91% to $5.53. AWS net sales for the fourth quarter aligned with forecasts at $28.8 billion, a 19% increase year-over-year. For the entire year, AWS net sales grew by 18.5%, totaling $107.5 billion.

Looking Ahead

Amazon projects its net sales for the first quarter of 2025 to be between $151 billion and $155.5 billion. Despite these strong financials, the company's stock experienced a 3.32% dip in after-hours trading, attributed to a less-than-optimistic guidance.