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Amazoncom Inc

AMZN

$268.99 -1.35%

Exchange NASDAQ Sector Consumer Cyclical Industry Specialty Retail

Q1 2024

Reported

Published: May 1, 2024

Data: Financial Modeling Prep

Company Status Snapshot

Fast view of the latest quarter outcome for AMZN

Report Date

May 1, 2024

Quarter Q1 2024

Revenue

143.31B

YoY: +12.5%

EPS

0.98

YoY: +222.6%

Market Move

-1.35%

Previous quarter: Q4 2023

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Earnings Highlights

Gross Margin

49.3%

Net Income

10.43B

YoY: +228.9%

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 May 12, 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

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

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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Q1 2024 Reports in Consumer Cyclical Sector

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