Q4 2023 Amazon.com Inc Earnings Call Transcript
Key Points
- Revenue of $170 billion, up 13% year-over-year, excluding the impact from foreign exchange rates.
- Operating income of $13.2 billion, up 383% year-over-year or $10.5 billion.
- Trailing 12-month free cash flow adjusted for equipment finance leases, up $48.3 billion year-over-year.
- Advertising growth remained strong, up 26% year-over-year, primarily driven by sponsored ads.
- AWS revenue grew 13% year-over-year in Q4, approaching an annualized revenue run rate of $100 billion.
- The results are inherently unpredictable and may be materially affected by many factors, including fluctuations in foreign exchange rates and changes in global economic conditions.
- Guidance incorporates order trends to date and assumptions which may not accurately predict demand for goods and services.
- The cost to serve has been reduced for the first time since 2018, indicating previous years of increased costs.
- International segment reported an operating loss of $419 million, despite an improvement of $1.8 billion year-over-year.
- CapEx is expected to increase year-over-year in 2024, primarily driven by increased infrastructure CapEx to support growth of AWS.
Thank you for standing by. Good day, everyone, and welcome to the Amazon.com Fourth Quarter 2023 Financial Results Teleconference. (Operator Instructions) Today's call is being recorded.
For opening remarks, I will be turning the call over to the Vice President of Investor Relations. Mr. Dave Fildes. Thank you. Sir, please go ahead.
Hello, and welcome to our Q4 2023 financial results conference call. Joining us today to answer your questions is Andy Jassy, our CEO; and Brian Olsavsky, our CFO.
As you listen to today's conference call, we encourage you to have our press release in front of you, which includes our financial results as well as metrics and commentary on the quarter. Please note, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2022.
Our comments and responses to your questions reflect management's views as of today, February 1, 2024, only and will include forward-looking statements. Actual results may
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