Amazon Revenues Up 11 Percent to $159 Billion

Amazon earned a net income of $15.3 billion on revenues of $158.9 billion in the quarter ending September 30, 2024. Those figures represent gains of 65 percent and 11 percent, respectively.

“As we get into the holiday season, we’re excited about what we have in store for customers,” Amazon president and CEO Andy Jassy said. “We kicked off the holiday season with our biggest-ever Prime Big Deal Days and the launch of an all-new Kindle lineup that is significantly outperforming our expectations; and there’s so much more coming, from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video, to over 100 new cloud infrastructure and AI capabilities that we’ll share at AWS re:Invent the week after Thanksgiving.”

Amazon Web Services (AWS) delivers most of Amazon’s quarterly profits, and that business is growing again after a few soft quarters. AWS revenues jumped 19 percent to $27.5 billion in the quarter, and operating income in the business was up 33.2 percent to $10.4 billion.

Advertising delivered another $14.3 billion in revenues, up 19 percent YOY. And subscriptions services–Amazon Prime, plus digital video, audiobook, music, e-book, and other non-AWS subscription services, was up 11 percent $11.3 billion.