AMZN Q3 2024 Earnings

Call Details

• Call Title: Amazon.com, Inc. Q3 2024 Earnings Call
• Date: October 31, 2024 at 9:00 PM UTC
• Management Team:
  • Dave Fildes (Director of Investor Relations)
  • Andy Jassy (Chief Executive Officer)
  • Brian Olsavsky (Chief Financial Officer)

Call Summary

Financial Performance

• Worldwide revenue was $158.9B, up 11% year-over-year, excluding foreign exchange impacts.
• Worldwide operating income was $17.4B, up 56% year-over-year, representing the company's highest quarterly operating income on record.
• Trailing 12-month free cash flow adjusted for equipment finance leases was $46.1B, up 128% year-over-year or $25.9B in absolute terms.
• North America revenue was $95.5B, up 9% year-over-year, and North America operating income was $5.7B, which was up $1.4B year-over-year.
• International revenue was $35.9B, up 12% year-over-year, and international operating income was $1.3B, which improved by $1.4B year-over-year.
• AWS revenue was $27.5B, up 19.1% year-over-year, and AWS operating income was $10.4B, which was up $3.5B year-over-year.

Guidance

• Company guidance incorporates order trends seen to date and assumes no additional business acquisitions, restructurings, or legal settlements.
• The company noted that its Q3 guidance had anticipated a roughly 90 basis point unfavorable FX impact but the actual FX impact was approximately 20 basis points.
• Q3 operating income was $2.4B above the high end of the company's guidance range.
• Executives stated expectations that capital spending will increase beyond the current year level, with an indication that 2025 CapEx will likely be higher than $75B.