Amazoncom Inc (AMZN) Q1 2024: Amzn

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Amazoncom Inc

AMZN

$227.35 0.26%

Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Specialty Retail

Q1 2024

Published: May 1, 2024

Earnings Highlights

Revenue of $143.31B up 12.5% year-over-year
EPS of $0.98 increased by 222.6% from previous year
Gross margin of 49.3%
Net income of 10.43B
"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)

AMZN

Amazoncom Inc

Period Q1 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 22, 2025

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

Debt to Equity

Elevated

0.71

Debt-to-equity shows significant leverage, monitor debt levels

P/E Ratio

High Growth

45.08x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

High Premium

8.68x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	187,792.00	1.86	+10.5%	View
Q3 2024	158,877.00	1.43	+11.0%	View
Q2 2024	147,977.00	1.26	+10.1%	View
Q1 2024	143,313.00	0.98	+12.5%	View
Q4 2023	169,961.00	1.00	+13.9%	View

Amazoncom Inc (AMZN) Q1 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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