Amazon’s annual net sales up 12 per cent

E-commerce giant Amazon booked higher net sales last year amid stronger results in both the North America and international markets.

The company’s net sales rose 12 per cent to US$574.8 billion as its North American net sales grew 12 per cent to $352.8 billion and international net sales climbed 11 per cent to $131.2 billion.

Amazon Web Services (AWS) sales jumped 13 per cent to $90.8 billion. The company also swung to a net income of $30.4 billion from a net loss in the prior year.

“The regionalisation of our US fulfilment network led to our fastest-ever delivery speeds for Prime members while also lowering our cost to serve,” said Amazon CEO Andy Jassy.

“AWS’s continued long-term focus on customers and feature delivery, coupled with new genAI capabilities like Bedrock, Q, and Trainium have resonated with customers and are starting to be reflected in our overall results.”

Amazon also noted record-breaking Black Friday and Cyber Monday holiday shopping events compared to the previous year’s performance.

This year, Amazon is expected to launch online vehicle sales in the US starting with Hyundai.

The company forecasts first-quarter net sales to rise between 8 per cent and 13 per cent to $138.0 billion to $143.5 billion.

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