Jassy noted, 'We made meaningful progress on delivery speeds in the United States and globally, which helped strong sales throughout the quarter.' This highlights the operational efficiencies gained in logistics.
— Andy Jassy
03Detailed Report
AMZN
Amazoncom Inc
Period
Q4 2023
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 10, 2026
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Executive Summary
In Q4 2023, Amazon.com Inc (AMZN) reported a robust performance with revenues reaching $170 billion, reflecting a year-over-year growth of 13%. A significant factor in this growth was the strong demand for its diverse product offerings amidst economic uncertainties. The company achieved operating income of $13.2 billion, a remarkable increase of 383% year-over-year, underscoring the effectiveness of its cost reduction strategies and operational efficiencies. CEO Andy Jassy emphasized the improvements in customer experience and operational execution, which contributed positively to both revenue and profitability. Investor focus will be crucial moving forward as Amazon faces a competitive landscape marked by economic fluctuations and increasing operational costs.
Key Performance Indicators
Revenue
Increasing
169.96B
QoQ: 18.78% | YoY: 13.91%
Gross Profit
Increasing
77.41B
45.54% margin
QoQ: 13.73% | YoY: 21.78%
Operating Income
Increasing
13.21B
QoQ: 18.06% | YoY: 382.61%
Net Income
Increasing
10.62B
QoQ: 7.54% | YoY: 3 721.58%
EPS
Increasing
1.03
QoQ: 7.29% | YoY: 3 686.76%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Performance: Amazon’s Q4 2023 revenue surged to $170 billion, a 13% increase from the previous year, with North America generating $105.5 billion and international revenues at $40.2 billion. For the full year, total revenues were approximately $574.8 billion, reflecting a 12% increase YoY.
Profitability: Operating income soared to $13.2 billion, a substantial jump compared to $3.4 billion last year, demonstrating a solid operating margin improvement from 1.8% to 7.8%.
Net Income: Achieving $10.6 billion in net income represented a staggering growth of 3,721% YoY, primarily attributed to cost control initiatives and higher sales volume.
Cash Flow: The company reported trailing 12-month free cash flow of $35.5 billion, an increase of $48.3 billion year-over-year, highlighting operational efficiencies and improved capital management.
Balance Sheet Health: With cash and short-term investments totaling $86.8 billion, Amazon showcases a comfortable liquidity position, supporting its strategic investments in growth initiatives.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
169.96B
13.91%
18.78%
Gross Profit
77.41B
21.78%
13.73%
Operating Income
13.21B
382.61%
18.06%
Net Income
10.62B
3 721.58%
7.54%
EPS
1.03
3 686.76%
7.29%
Key Financial Ratios
Gross Profit Margin
Weak
17.20%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Fair
7.77%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
6.25%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
2.01%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
5.26%
Return on equity is acceptable but below top-tier companies
Current Ratio
Adequate
1.05
Current ratio meets minimum requirements but limited cushion