Amazon released Q1 2024 results on the evening of April 30th. Total net sales ($143.3 B) and year-over-year growth (+13%) came in at the high-end of Amazon’s guidance, resulting in another solid quarter financially across business units. Advertising growth remains in the mid-20%s range with no signs of slowing, and the international business turned profitable for the first time in 3 years.
Other notable callouts from the call include meaningful investment in CapEx on the horizon to support GenAI investments, and a bullish sentiment on its grocery business.
Download Harvest Group’s full Amazon Q1 2024 earnings recap with takeaways from our team of Amazon experts here:
