Amazon's 2024 revenue rose 11% to $637.96 billion, with operating income at $68.59 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Amazon filed its 10-K, the annual report a US-listed company files with US regulators, on Feb 7, 2025, for the year ended Dec 31, 2024. Revenue was $637.96 billion, up 11% from $574.79 billion in 2023. Operating income, the profit from running the business before interest and tax, rose to $68.59 billion from $36.85 billion. Net income was $59.25 billion against $30.43 billion, and diluted earnings per share were $5.53 against $2.90. Amazon announced its fourth-quarter results on Feb 6, 2025, in an earnings release attached to an 8-K, the report of a material event.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

AWS, the segment that sells compute, storage and database services, had net sales of $107.56 billion, up 19%. Its operating income was $39.8 billion against $24.6 billion in 2023, according to Amazon's earnings release. The International segment moved from an operating loss of $2.7 billion in 2023 to operating income of $3.8 billion.13^,14^,15^,16^,17

Cash capital expenditures were $77.7 billion in 2024 against $48.1 billion in 2023; Amazon said they mainly reflected technology infrastructure, most of it to support AWS growth, and fulfillment network capacity. It said it expected them to increase in 2025, primarily driven by technology infrastructure. Cash from operating activities was $115.9 billion, up from $84.9 billion. Amazon's own non-GAAP measure, free cash flow, which is operating cash flow less purchases of property and equipment net of sales proceeds and incentives, was $38.2 billion for 2024 against $36.8 billion in 2023. Below operating income, the line for other income (expense), net came to an expense of $2.25 billion for 2024, and the 10-K said that line included a valuation loss on Amazon's equity investment in Rivian.18^,19^,20^,21^,22^,2^,23^,24

Amazon reported three segments: North America, International and AWS. Among Amazon's product groups, online stores had $247.03 billion of net sales in 2024, up 6.5%, and the segment note said the group included media products such as books, videos, games, music and software, so it was not a count of game sales. Amazon Games, an Amazon company, is the listed publisher of Tomb Raider: Legacy of Atlantis, which Crystal Dynamics and Flying Wild Hog develop.25^,26^,27^,28^,29^,30

Our records hold revenue, operating income, net income and diluted earnings per share for the year to Dec 31, 2024 and the text of the filing's management discussion and notes, and keep one value for each period of an SEC filer, so they cannot tell whether the year-earlier figures were restated.31^,32^,33