AMZN Nasdaq· Inc.
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AMZN Nasdaq· Inc.
Earnings report Q4 2023

Amazon's Revenue Continues to Climb, Reaching $574.78 Billion

Segments of Revenue

Amazon's total net sales for the year ended December 31, 2023, reached $574.78 billion, a significant increase from the previous year's $513.98 billion. This growth was driven by both net product sales and net service sales. Net product sales increased from $242.9 billion in 2022 to $255.88 billion in 2023. Meanwhile, net service sales saw a more substantial increase, rising from $271.08 billion in 2022 to $318.89 billion in 2023.


The company's strength lies in its ability to consistently grow its revenue across both its product and service segments. The substantial increase in net service sales suggests a successful expansion and adoption of its service offerings.


Despite the impressive revenue growth, Amazon's operating expenses also increased significantly. The cost of sales, fulfillment, technology and infrastructure, sales and marketing, and general and administrative expenses all saw increases, which could potentially impact the company's profit margins.


It's worth noting that Amazon's net sales growth outpaced the increase in its operating expenses. This indicates that the company is effectively managing its costs while expanding its revenue streams.


Amazon demonstrated strong financial performance in the latest quarter, with total net sales reaching $574.78 billion. This growth was driven by increases in both net product sales and net service sales. However, the company also faced rising operating expenses. Despite this, Amazon's ability to grow its revenue at a faster pace than its expenses suggests effective cost management and a strong financial position.

Source documents

Form 10-K  filed on Feb 01, 2024
106 pages scanned

Reference data

Company financials Q4 revenue 170B
Analyst estimates Q4 EPS beat by 68.82%
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