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Amazon CEO Jassy Issues Letter to Shareholders

Published 10/04/2025, 12:20
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Investing.com -- Amazon (NASDAQ:AMZN)'s CEO, Andy Jassy, announced in a letter to shareholders that the company had a strong performance in 2024, with total revenue growing 11% year-over-year, from $575B to $638B.

The company's North America revenue rose 10% year-over-year, from $353B to $387B. International revenue also saw growth, increasing 9% from $131B to $143B. Amazon's cloud service, AWS, witnessed a significant 19% increase in revenue, from $91B to $108B. To put this in context, ten years ago, AWS revenue was a mere $4.6B, while Amazon's total revenue was $89B.

Amazon's operating income for 2024 also improved significantly, with an 86% year-over-year increase, from $36.9B to $68.6B. This change resulted in an operating margin of 10.8%, up from a 6.4% margin in the previous year. The company's Free Cash Flow, adjusted for equipment finance leases, saw a slight increase from $35.5B in 2023 to $36.2B in 2024.

In addition to financial growth, Amazon made strides in customer service and product offerings. The company expanded its selection in its Stores business, continued to lower prices, and shipped at record speeds to Prime members for the second year in a row. AWS launched new infrastructure and AI services, including custom AI silicon (Trainium2), a new set of frontier foundation models in Amazon Nova, and an expansion of available models and features in its Generative AI services Amazon SageMaker and Amazon Bedrock.

Prime Video continued to offer original shows and movies, and it expanded its selection with Apple (NASDAQ:AAPL) TV+ joining Prime Video Channels. The company also launched a series of new Kindle devices, which drove the highest Kindle unit sales for a single quarter in over a decade. Amazon Pharmacy added more selection, price transparency, and same-day shipping.

Jassy praised his team for their hard work and thoughtful execution across Amazon in 2024. He noted that some of the team's efforts are visible in the 2024 results, while others will become apparent in the coming years.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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