Amazon Earnings: Q4 2024 Results – AMZN Stock Analysis

Amazon reported fourth-quarter earnings on Thursday after the market closed, exceeding analyst expectations for both earnings per share and revenue. The company’s stock slipped more than 5% in extended trading following the release of its financial outlook.

Earnings per share came in at $1.86, compared to the $1.49 expected by analysts polled by LSEG. Revenue reached $187.79 billion, surpassing the anticipated $187.30 billion.

According to a press release issued on February 6, 2025, fourth-quarter net sales increased 10% to $187.8 billion, compared to $170.0 billion in the fourth quarter of 2023. Excluding the unfavorable impact of foreign exchange rates, net sales increased.

Despite the strong fourth-quarter performance, Amazon’s guidance for the current quarter disappointed investors. The company expects sales this quarter to be between $151 billion and $155.5 billion. Analysts were anticipating $158.5 billion, according to LSEG.

Amazon attributed the weaker-than-expected guidance to a significant, unfavorable impact from foreign exchange rates, amounting to $2.1 billion, or 1.5%. The company noted that the U.S. Dollar index reached its highest level in more than two years recently.

Based on its forecast, Amazon anticipates revenue growth of only 5% to 9% in the first quarter, which would mark the slowest growth rate in the company’s history since going public in 1997.

Key revenue numbers for the fourth quarter included Amazon Web Services at $28.8 billion, in line with StreetAccount estimates, and advertising revenue at $17.3 billion, slightly below the $17.4 billion expected by StreetAccount.

The earnings call for the period ending December 31, 2024, was held on February 6, 2025, with participation from Andy Jassy, CEO, and Brian Olsavsky, CFO.

As of February 5, 2026, at 3:59 PM ET, Amazon’s market capitalization was $2.5 trillion, with a stock price of $222.82, down 4.36% or $10.16 for the day.