Seattle — In the third quarter of 2024, Amazon’s net sales increased by 11% to $158.9 billion, marking another successful quarter for the online retailer.
Although sales in North America increased by 9% to $95.5 billion, sales in International and AWS increased even more, by 12% and 19%, respectively, over the previous year.
Andy Jassy, president and CEO, stated, “We are thrilled about what we have in store for customers as we enter the holiday season.” He cited the successful debut of a new Kindle lineup and the October Amazon Prime Deal Days as examples. From tens of millions of offers to our NFL Black Friday game to election day coverage with Brian Williams on Prime Video, he added, “There’s so much more coming.”
Net income rose to $15.3 billion, or $1.43 per diluted share, during the quarter, while operating income climbed to $17.4 billion, up from $11.2 billion in the same period in 2023. For the trailing 12 months ending September 30, cash flow climbed 57% to $112.7 billion, with $47.7 billion in free cash flow.
According to fourth-quarter guidance, net sales will increase by 7% to 11% to $181.5 billion to $188.5 billion. Operating income for the fourth quarter of 2023 was $13.2 billion; it is anticipated to be between $16 billion and $20 billion.
Throughout the quarter, Amazon continued to roll out AI-powered services, such as Project Amelia, an AI assistant for sellers; AI Shopping Guides, which streamline product discovery; and Rufus, their generative AI helper, which will be available in Canada, parts of Europe, and India.
