Amazon experienced strong growth in the third quarter of 2024, reporting significant increases in key financial metrics. Net sales reached $158.877 billion, representing an 11% year-over-year increase. The North America segment saw a 9% rise in revenue to $95.537 billion, while International segment revenue surged by 12% to $35.888 billion. Notably, Amazon Web Services (AWS) recorded a 19% year-over-year growth, achieving a $110 billion annualized run rate.
Operating income also saw substantial improvement, reaching $17.411 billion compared to $11.188 billion in the same period last year. Both the North America and International segments contributed to this positive trend, demonstrating seven consecutive quarters of operating margin expansion. AWS played a key role, achieving a 38.1% operating margin, driven by accelerating demand, cost control measures, and adjustments to server useful life estimations.
