Amazon: Strong Numbers but Weak Outlook
Here's our initial take on Amazon.com's (NASDAQ: AMZN) financial report.
Amazon.com reported generally strong fourth-quarter and full-year 2024 results. For the quarter, Amazon beat expectations on both the top and bottom lines. Sales grew by 10% year over year and beat expectations even with unfavorable foreign exchange conditions. The AWS cloud services business continues to be the fastest-growing and most profitable part of the business, growing 19% year over year and accounting for half of the company's operating income despite making up just 15% of total sales.
Speaking of profitability, CEO Andy Jassy's ongoing efforts to improve Amazon's efficiency are paying off. Operating income increased by 61% year over year, and net income improved by an impressive 86% on a per-share basis.
Source Fool.com
