Amazon’s Q1’24 earnings:
Amazon reported earnings per share (EPS) of $0.98 for Q1’24, surpassing estimates of $0.83.
Net sales for the quarter reached $143.31 billion, slightly above the estimated $142.59 billion and marking a 13% year-over-year (YoY) increase.
Amazon Web Services (AWS) generated $25.04 billion in sales, beating expectations of $24.11 billion and showing a 17% YoY growth.
The Q2’24 outlook forecasts revenue between $144 billion and $149 billion, below the estimated $150 billion.
Operating income stood at $15.31 billion, surpassing the estimated $10.95 billion and significantly rising from $4.77 billion YoY.
Operating margin was 10.7%, exceeding the estimated 7.63%.
Segment performance showcased:
– Online stores sales reached $54.67 billion, slightly below the estimated $54.77 billion but reflecting a 7% YoY increase.
– Physical stores sales amounted to $5.20 billion, surpassing the estimated $5.08 billion and showing a 6.3% YoY growth.
– Third-party seller services sales totaled $34.60 billion, slightly below the estimated $34.63 billion, with a 16% YoY increase.
– AWS sales hit $25.04 billion, surpassing estimates and growing by 17% YoY.
– North America sales amounted to $86.34 billion, surpassing estimates and rising by 12% YoY.
– International sales reached $31.94 billion, slightly below estimates, with a 9.7% YoY increase.
Other notable metrics include:
– Third-party seller services sales excluding foreign exchange (FX) grew by 16% YoY.
– AWS sales excluding FX increased by 17% YoY.
– Seller unit mix rose to 61%, up from 59% YoY and exceeding the estimated 59.5%.
– Fulfillment expense reached $22.32 billion, slightly below the estimated $22.4 billion, with a 6.8% YoY increase.
Visualizing Amazon’s Q1’24 performance:
– Total net sales increased by 13% YoY, with notable growth in AWS, online stores, physical stores, and third-party seller services.
Demographic performance highlighted:
– North America sales increased by 12% YoY.
– International sales grew by 9.7% YoY.
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