AMZN Q4 2024 Earnings

Call Details

• Call Title: Amazon.com, Inc. Q4 2024 Earnings Call
• Date: February 6, 2025 at 10:00 PM UTC
• Management Team:
  • Dave Fildes (Director of Investor Relations)
  • Andy Jassy (Chief Executive Officer)
  • Brian Olsavsky (Chief Financial Officer)

Call Summary

Financial Performance

• Reported worldwide revenue was $187.8 billion, up 10% year over year.
• Revenue excluding foreign exchange was 11% year over year, with an approximate $900 million FX headwind in the quarter and about $700 million more FX impact than anticipated in guidance.
• Operating income was $21.2 billion, up 61% year over year, which was $1.2 billion above the high end of the guidance range.
• Trailing 12-month free cash flow adjusted for equipment finance leases was $36.2 billion, up $700 million year over year.
• AWS revenue was $28.8 billion, up 19% year over year, and AWS operating income was $10.6 billion, up $3.5 billion year over year; AWS has an annualized revenue run rate of $115 billion.
• Worldwide paid units grew 11% year over year, and North America revenue was $115.6 billion, up 10% year over year.
• International revenue was $43.4 billion, up 9% year over year excluding the impact of foreign exchange.

Guidance

• Q1 net sales are expected between $151.0 billion and $155.5 billion.
• Q1 operating income is expected between $14.0 billion and $18.0 billion.
• Q1 guidance incorporates an estimated FX headwind of approximately $2.1 billion year over year, or roughly 150 basis points to growth, based on current rates.
• Q1 comparability is reduced by last year's leap day that added about $1.5 billion of net sales in Q1 2024, or about 120 basis points to prior-year growth.
• Guidance assumes no additional business acquisitions, restructurings, or legal settlements and reflects current order trends and company assumptions.
• Aggregate accounting changes to useful lives and early retirements are reflected in guidance and are estimated to decrease full-year 2025 operating income by approximately $400 million in total.