- Amazon’s net sales for Q2 2024: $147.98 billion, up 10% year-over-year, nearly meeting the estimate of $148.78 billion.
- Online stores net sales: $55.39 billion, up 4.6% year-over-year, close to the estimate of $55.55 billion.
- Physical stores net sales: $5.21 billion, up 3.6% year-over-year, nearly matching the estimate of $5.26 billion.
- Third-Party Seller Services net sales: $36.20 billion, up 12% year-over-year, slightly missing the estimate of $36.65 billion.
- Amazon Web Services (AWS) net sales: $26.28 billion, up 19% year-over-year, surpassing the estimate of $25.98 billion.
- North America net sales: $90.03 billion, up 9.1% year-over-year, slightly exceeding the estimate of $89.98 billion.
- International net sales: $31.66 billion, up 6.6% year-over-year, below the estimate of $32.87 billion.
- Third-party seller services net sales excluding foreign exchange (F/X): up 13%, below the year-over-year growth of 18%, meeting the estimate of +13.4%.
- Amazon Web Services net sales excluding F/X: up 19%, above the year-over-year growth of 12%, exceeding the estimate of +17.2%.
- EPS: $1.26, significantly higher than the previous quarter’s 98 cents, and above the estimate of $1.04.
- Operating income: $14.67 billion, up 91% year-over-year, beating the estimate of $13.59 billion.
- Operating margin: 9.9%, higher than both the previous year’s 5.7% and the estimate of 9.13%.
- North America operating margin: 5.6%, up from 3.9% year-over-year, slightly below the estimate of 5.78%.
- International operating margin: 0.9%, improving from -3% year-over-year, beating the estimate of 0.31%.
- Fulfillment expense: $23.57 billion, up 11% year-over-year, above the estimate of $22.96 billion.
- Seller unit mix: 61%, up from 60% year-over-year, meeting the estimate of 60.7%.
- Forecast for Q3 2024: Operating income expected between $11.5 billion and $15.0 billion, compared to $11.2 billion in Q3 2023.
- Q3 2024 net sales expected between $154.0 billion and $158.5 billion, projecting growth between 8% and 11% compared to Q3 2023.
- Amazon’s shares fell 2.2% in post-market trading to $179.95 after trading 39,829 shares.
- Analyst consensus: 74 buys, 3 holds, 0 sells.
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Amazon.com Inc on Smartkarma
Analysts on Smartkarma have been closely monitoring Amazon.com Inc‘s performance and growth prospects. Uttkarsh Kohli‘s report on “Amazon Q2 Earnings” anticipates a strong 58.5% YoY growth in EPS driven by AWS expansion and e-commerce performance, with analysts maintaining buy ratings and an average target price of $228. Joe Jasper‘s insights suggest staying overweight on large-cap growth, with a bullish outlook on mega-cap names like Amazon and others. Baptista Research‘s analysis of Amazon’s Q1 2024 results highlights a 13% YoY revenue increase and significant operating income growth due to efficiency improvements. MBI Deep Dives provides a broader context on Amazon’s 1Q’24 update, touching on revenue performance relative to guidance. Lastly, Brian Freitas notes Amazon’s inclusion in the Dow Jones Industrial Average following Walmart’s stock split, with implications for passive investors.
A look at Amazon.com Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores for Amazon.com Inc, the company shows strong potential for long-term growth and momentum. With high scores in Growth and Momentum factors, Amazon.com Inc is positioned well for future development and market performance. Its focus on expanding its product offerings and maintaining strong market presence indicate a positive outlook for the company.
While some factors like Dividend and Value scored lower, the overall resilience score indicates that Amazon.com Inc has the capacity to withstand challenges and maintain its position in the market. As a leading online retailer with a diverse range of products, Amazon.com Inc continues to innovate and adapt to changing consumer trends, which bodes well for its long-term success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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