Amazon.com, Inc. (NASDAQ: AMZN) reported its fourth-quarter financial results for 2024 on February 6, 2025. The company achieved revenues of $187.8 billion, marking a 10% increase compared to $170.0 billion in the same quarter of 2023. After accounting for foreign exchange fluctuations, the year-over-year revenue growth would have been approximately 11%.

The company demonstrated strong profitability with operating income rising to $21.2 billion, up 61% from $13.2 billion in fourth quarter 2023. Net income for the quarter also doubled, reaching $20.0 billion or $1.86 per diluted share, compared to $10.6 billion or $1.00 per diluted share a year earlier.

By segment, the North America segment generated $115.6 billion in sales, a 10% increase year-over-year, while the international segment reported $43.4 billion in sales—a rise of 8% year-over-year, or 9% when excluding the impact of foreign exchange. Amazon Web Services (AWS) saw revenue increase by 19% to $28.8 billion.

Operating income for North America climbed to $9.3 billion, enhancing from $6.5 billion in the prior year’s fourth quarter. The international segment recorded operating income of $1.3 billion, recovering from an operating loss of $0.4 billion in fourth quarter 2023. AWS also saw impressive growth in profitability, with operating income increasing to $10.6 billion from $7.2 billion the previous year.

Operating margins exhibited improvements across all segments. The North America operating margin improved to 8%, up 190 basis points, while the international segment reported a 3% operating margin, an increase of 400 basis points year-over-year. AWS’s operating margin was 36.9%, reflecting a robust operational performance compared to 29.6% a year ago.

Additionally, Amazon noted a trailing twelve-month free cash flow of $36.2 billion, which represents a $700 million increase year-over-year. The company also experienced strong cash flow from operations, which increased by 36% to $115.9 billion during the trailing twelve months.

For the first quarter of 2025, Amazon anticipates net sales between $151 billion and $155.5 billion, representing a growth rate between 5% and 9% year-over-year. However, the company warned of a projected $2.1 billion headwind from foreign exchange rates and indicated that previous year adjustments from leap year effects might also impact results. Operating income for Q1 is estimated to fall between $14 billion and $18 billion.