Amazon.com Inc. Q1 FY2024 results: revenue $143.3 billion, up 12.5% on the year

Amazon.com Inc. (AMZN) reported revenue of $143.3 billion for Q1 FY2024, the quarter ended 31 March 2024, up 12.5% on the same quarter a year earlier. Net income was $10.4 billion, up 228.8% on the year, and diluted earnings per share $0.98. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2024.

Revenue$143.3 billionup 12.5%

Net income$10.4 billionup 228.8%

Diluted EPS$0.98

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	143,313	169,961	n/a	n/a
Cost of revenue	72,633	92,553	n/a	n/a
Gross profit	70,680	77,408	n/a	n/a
Gross margin	49.3%	45.5%	n/a
Operating income	15,307	13,209	n/a	n/a
Operating margin	10.7%	7.8%	n/a
Interest expense	644	713	n/a	n/a
Pre-tax income	12,983	13,686	n/a	n/a
Income tax	2,467	3,062	n/a	n/a
Effective tax rate	19.0%	22.4%	n/a
Net income	10,431	10,624	n/a	n/a
Net margin	7.3%	6.3%	n/a
Diluted EPS	$0.98	$1.00	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	18,989	42,465	n/a	n/a
Capital expenditure	14,925	14,588	n/a	n/a
Free cash flow	4,064	27,877	n/a	n/a
Free cash flow margin	2.8%	16.4%	n/a
Depreciation and amortisation	11,684	13,820	n/a	n/a
Share-based compensation	4,961	6,319	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Diluted shares, weighted	10,670m	10,492m	n/a	n/a
Shares outstanding at period end	10,403m	10,383m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Total assets	530,969	527,854	n/a	n/a
Cash and equivalents	72,852	73,387	n/a	n/a
Receivables	47,768	52,253	n/a	n/a
Inventory	31,147	33,318	n/a	n/a
Goodwill	22,770	22,789	n/a	n/a
Long-term debt	66,852	67,182	n/a	n/a
Borrowings, as the company tags them	57,634	58,314	n/a	n/a
Operating lease liabilities	67,438	67,220	n/a	n/a
Finance lease liabilities	9,614	10,077	n/a	n/a
Shareholders' equity	216,661	201,875	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	143,083	169,961	143,313	147,977	158,877	187,792	155,667	167,702	180,169	213,386	181,519	200,606
Cost of revenue	75,022	92,553	72,633	73,785	80,977	98,893	76,976	80,809	88,670	109,959	87,463	95,778
Gross profit	68,061	77,408	70,680	74,192	77,900	88,899	78,691	86,893	91,499	103,427	94,056	104,828
Gross margin	48%	46%	49%	50%	49%	47%	51%	52%	51%	48%	52%	52%
Operating income	11,188	13,209	15,307	14,672	17,411	21,203	18,405	19,171	17,422	24,977	23,852	27,461
Operating margin	8%	8%	11%	10%	11%	11%	12%	11%	10%	12%	13%	14%
Interest expense	806	713	644	589	603	570	541	516	538	679	800	1,314
Pre-tax income	12,189	13,686	12,983	15,245	18,037	22,349	21,679	20,857	28,170	26,605	39,834	80,857
Tax rate	19%	22%	19%	12%	15%	10%	21%	13%	25%	19%	24%	23%
Net income	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255	62,647
Net margin	7%	6%	7%	9%	10%	11%	11%	11%	12%	10%	17%	31%
Diluted EPS	$0.94	$1.00	$0.98	$1.26	$1.43	$1.86	$1.59	$1.68	$1.95	$1.95	$2.78	$5.75
Operating cash flow	21,217	42,465	18,989	25,281	25,971	45,636	17,015	32,515	35,525	54,459	26,032	45,387
Capital expenditure	12,479	14,588	14,925	17,620	22,620	27,834	25,019	32,183	35,095	39,522	44,203	54,208
Free cash flow	8,738	27,877	4,064	7,661	3,351	17,802	-8,004	332	430	14,937	-18,171	-8,821
Buybacks	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	10,330m	10,383m	10,403m	10,490m	10,511m	10,593m	10,613m	10,660m	10,687m	10,731m	10,754m	10,783m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 1 May 2024, accession 0001018724-24-000083: the filing on EDGAR. All of Amazon.com Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install