US e-commerce giant Amazon has reported $574.8bn in net sales in the full year 2023 (FY23), up by 12% from $514.0bn in 2022.
During the fiscal year ending 31 December 2023, Amazon’s operating income showed a remarkable improvement, escalating to $36.9bn in FY23 from $12.2bn in FY22.
The retailer’s North American segment witnessed a 12% increase in sales, amounting to $352.8bn, while the international segment saw an 11% rise, totalling $131.2bn.
The North American segment contributed significantly with an operating income of $14.9bn, compared with the operating loss of $2.8bn it experienced in 2022.
The international segment also reduced its operating loss from $7.7bn in 2022 to $2.7bn in 2023.
Amazon's net income stood at $30.4bn, which translates to $2.90 per diluted share in FY23, against the net loss of $2.7bn, or $0.27 per diluted share, reported in 2022.
In the fourth quarter (Q4) of FY23, the retailer’s net sales increased by 14% to $170.0bn, compared with $149.2bn in the same quarter of the previous year.
Sales in the North American and international segments grew by 13% and 17% respectively.
The fourth quarter's operating income rose to $13.2bn, up from $2.7bn in the corresponding quarter of FY22.
The North America segment's Q4 operating income was $6.5bn, recovering from an operating loss of $0.2bn in the fourth quarter of 2022, while, the international segment’s operating loss was reduced to $0.4bn from $2.2bn.
Net income increased to $10.6bn in Q4 FY24, against $0.3bn in the same quarter of the previous year.
Its earnings per diluted share were $1, a significant improvement from the $0.03 recorded in Q4 2022.
Amazon CEO Andy Jassy stated: “This Q4 was a record-breaking holiday shopping season and closed out a robust 2023 for Amazon.
“While we made meaningful revenue, operating income and free cash flow progress, what we’re most pleased with is the continued invention and customer experience improvements across our businesses.
“As we enter 2024, our teams are delivering at a rapid clip, and we have a lot in front of us to be excited about.”
