Annual Report on Form 10-K: 2019

Key insights

6 takeaways · ~2 min read

01
Total net sales for the year ended December 31, 2019, reached $280,522 million, an increase from $232,887 million in 2018 and $177,866 million in 2017.
02
Net service sales grew significantly, reaching $120,114 million in 2019, up from $90,972 million in 2018 and $59,293 million in 2017, while net product sales also increased to $160,408 million in 2019 from $141,915 million in 2018 and $118,573 million in 2017.
03
Operating income increased to $14,541 million in 2019, compared to $12,421 million in 2018 and $4,106 million in 2017.
04
Net income for 2019 was $11,588 million, an increase from $10,073 million in 2018 and $3,033 million in 2017, resulting in diluted earnings per share of $23.01 in 2019.
05
Key operating expenses in 2019 included cost of sales at $165,536 million, fulfillment at $40,232 million, technology and content at $35,931 million, and marketing at $18,878 million.
06
The company expects a disproportionate amount of retail sales during the fourth quarter, which places increased strain on operations due to potential system interruptions, staffing challenges, and inventory management risks.