We expect the combination of AWS' reaccelerating growth and high demand for gen AI to meaningfully increase year-over-year capital expenditures in 2024.
— Andy Jassy (CEO)
03Detailed Report
AMZN
Amazoncom Inc
Period
Q1 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
Amazoncom Inc (AMZN) reported a strong performance in Q1 2024, with revenues reaching $143.3 billion, a 13% increase year-over-year, reflecting the ongoing recovery in consumer spending. Notably, operating income doubled year-over-year to $15.3 billion, achieving an unprecedented 221% growth. These results were bolstered by significant advancements in operational efficiency and customer engagement strategies. Management remains optimistic, emphasizing a focus on selection, pricing strategy, and delivery speed to meet customer expectations in a volatile economic environment. CEO Andy Jassy characterized the results as a reinforcement of Amazon's commitment to enhancing customer experience while executing efficiency improvements across its multiple business segments.
Key Performance Indicators
Revenue
Increasing
143.31B
QoQ: -15.68% | YoY: 12.53%
Gross Profit
Increasing
70.68B
49.30% margin
QoQ: -8.69% | YoY: 18.66%
Operating Income
Increasing
15.31B
QoQ: 15.88% | YoY: 220.63%
Net Income
Increasing
10.43B
QoQ: -1.82% | YoY: 228.85%
EPS
Increasing
1.00
QoQ: -2.91% | YoY: 222.58%
Revenue Trend
Margin Analysis
Financial Highlights
Financial Performance Highlights
- Revenue: $143.3 billion, up 13% YoY (vs. $127.4 billion in Q1 2023)
- Operating Income: $15.3 billion, significantly up 221% YoY (vs. $4.8 billion in Q1 2023)
- Operating Margin: 10.7%, up from 3.8% YoY
- Net Income: $10.4 billion, a 229% increase YoY (vs. $3.2 billion in Q1 2023)
- EPS: $1.00, compared to $0.31 in Q1 2023 Comparative Analysis
- AWS Revenue: $25 billion, growing 17.2% YoY, indicating recovery in cloud service utilization
- Advertising Revenue: Up 24% YoY, reflecting strong demand for sponsored products Balance Sheet Metrics
- Total Assets: $530.97 billion, total liabilities at $314.31 billion; total equity at $216.66 billion, highlighting strong capital structure.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
143.31B
12.53%
-15.68%
Gross Profit
70.68B
18.66%
-8.69%
Operating Income
15.31B
220.63%
15.88%
Net Income
10.43B
228.85%
-1.82%
EPS
1.00
222.58%
-2.91%
Key Financial Ratios
Gross Profit Margin
Good
49.30%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Fair
10.70%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
7.28%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
1.96%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
4.81%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.07
Current ratio meets minimum requirements but limited cushion