Amazon reports 2024 revenue growth, strong Q4 results

Amazon.com, Inc. reported robust financial results for 2024, with net sales reaching $638 billion, an 11% increase from the previous year, and net income rising to $59.2 billion. The fourth quarter saw net sales of $187.8 billion, a 10% year-over-year growth, with significant contributions from both the North America and international segments. Amazon Web Services (AWS) also performed strongly, generating $107.6 billion in sales for the year, reflecting a 19% increase. Kindle e-reader sales experienced a record holiday season, driven by a refreshed product lineup and holiday discounts, which contributed to a 30% year-over-year increase in devices sold. Despite these positive results, Amazon's shares fell in after-hours trading due to less favorable guidance for the first quarter of 2025. CEO Andy Jassy highlighted the successful holiday shopping season and advancements in technology as key factors in the company's performance.