Amazoncom Inc (AMZN) Q2 2024: Amzn

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Amazoncom Inc

AMZN

$227.35 0.26%

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

Q2 2024

Published: Aug 2, 2024

Earnings Highlights

Revenue of $147.98B up 10.1% year-over-year
EPS of $1.26 increased by 95.5% from previous year
Gross margin of 50.1%
Net income of 13.49B
""We're continuing to see three macro trends drive AWS growth, including companies focusing on modernizing their infrastructure and moving to cloud solutions." - Andy Jassy, CEO" - Andy Jassy

AMZN

Amazoncom Inc

Period Q2 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 22, 2025

Executive Summary

In Q2 2024, Amazon.com Inc (AMZN) delivered a strong financial performance, reporting $148 billion in revenue, marking an 11% increase year-over-year when excluding foreign exchange impacts. Notably, operating income surged to $14.7 billion, nearly doubling from the previous year, driven primarily by robust growth in AWS and retail segments. Management emphasized ongoing improvements in operational efficiencies and cost management, paving the way for sustainable long-term growth despite prevailing economic pressures, including inflation and shifting consumer behaviors. Overall, the company shows strong unit growth across segments, particularly in e-commerce and cloud services, indicating resilience amid market headwinds.

Key Performance Indicators

Revenue

Increasing

147.98B

QoQ: 3.25% | YoY: 10.12%

Gross Profit

Increasing

74.19B

50.10% margin

QoQ: 4.97% | YoY: 14.12%

Operating Income

Increasing

14.67B

QoQ: -4.15% | YoY: 91.02%

Net Income

Increasing

13.49B

QoQ: 29.28% | YoY: 99.78%

EPS

Increasing

1.29

QoQ: 29.00% | YoY: 95.45%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue Performance: $148 billion, 11% YoY growth (adjusted for FX losses).
Operating Income: $14.7 billion, an impressive 91% increase YoY.
Net Income: $13.485 billion, a 99% rise YoY.
EPS: Diluted EPS of $1.26, a 95.4% increase YoY.

Cost Management: Gross margin held steady at 50.1% indicating effective cost control. Operating margin improved to roughly 10% despite challenges in retail pricing and operational investments in AWS and Project Kuiper.

Cash Flow: Free cash flow at $7.661 billion reflects strong operational cash flow performance amid capital investments driven by cloud growth.

Balance Sheet Health: With total assets of $554.8 billion against liabilities of $318.4 billion, Amazon maintains a healthy debt-to-equity ratio of 0.637 and has cash reserves of $71.673 billion, supporting liquidity and operational flexibility.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	147.98B	10.12%	3.25%
Gross Profit	74.19B	14.12%	4.97%
Operating Income	14.67B	91.02%	-4.15%
Net Income	13.49B	99.78%	29.28%
EPS	1.29	95.45%	29.00%

Key Financial Ratios

Gross Profit Margin

Good

50.10%

Gross profit margin is healthy and competitive within industry standards

Operating Profit Margin

Fair

9.92%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Fair

9.11%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

2.43%

Return on assets suggests inefficient capital allocation

Return on Equity

Fair

5.70%

Return on equity is acceptable but below top-tier companies

Current Ratio

Adequate

1.10

Current ratio meets minimum requirements but limited cushion

Debt to Equity

Elevated

0.64

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

P/E Ratio

Growth

38.19x

Elevated P/E suggests growth expectations or premium valuation

Price to Book

High Premium

8.71x

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) Q2 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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