Key insights
7 takeaways · ~3 min read- 01Net income for the nine months ended September 30, 2024, was $39.244 billion, a significant increase from $19.801 billion for the same period in 2023.
- 02Operating income for the nine months ended September 30, 2024, was $47.390 billion, more than double the $23.643 billion reported for the same period in 2023.
- 03Amazon Web Services (AWS) has approximately $164 billion in unrecognized commitments for future services as of September 30, 2024, with a weighted-average remaining contract life of 3.9 years.
- 04In April 2024, a jury awarded Kove IO, Inc. $525 million in damages against Amazon for patent infringement related to Amazon S3 and DynamoDB, with an additional $148 million in pre-judgment interest awarded in August 2024.
- 05For Q4 2024, net sales are projected to be between $181.5 billion and $188.5 billion (7% to 11% growth year-over-year), and operating income is expected to be between $16.0 billion and $20.0 billion.
- 06As of September 30, 2024, $6.1 billion remains under the $10.0 billion common stock repurchase program authorized in March 2022, with no repurchases made in the nine months ended September 30, 2023 or 2024.
- 07In October 2024, Amazon replaced its 2023 Short-Term Credit Agreement with a new $5.0 billion unsecured 364-day revolving credit facility maturing in October 2025.
Summary
SEC 10-Q filing for Amazon, filed 2024-11-01.
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