The company said North America operating income was $12.2 billion in 2022 and $36.9 billion in 2023. It cited increased unit sales and advertising sales as factors, partially offset by higher shipping and fulfillment costs and higher technology and infrastructure costs.

1. 01

   The company said North America operating income was $12.2 billion in 2022 and $36.9 billion in 2023. It cited increased unit sales and advertising sales as factors, partially offset by higher shipping and fulfillment costs and higher technology and infrastructure costs.

2. 02

   The company said operating cash flow was $46.8 billion in 2022 and $84.9 billion in 2023. It cited the increase in net income excluding non-cash expenses and changes in working capital as factors behind the increase.

3. 03

   The company said cash capital expenditures were $58.3 billion in 2022 and $48.1 billion in 2023, and that it expects them to increase in 2024. In 2023, it invested $1.25 billion in a convertible note from Anthropic, PBC. It said it may invest up to an additional $2.75 billion in a second convertible note under an agreement that expires in Q1 2024.

4. 04

   The company gave net sales guidance of $138.0 billion to $143.5 billion for Q1 of February 1, 2024, up 8% to 13% from Q1 2023, and operating income guidance of $8.0 billion to $12.0 billion, Q1 2023 $4.8 billion. It said the outlook includes an reduction in depreciation of about $0.9 billion from extending the estimated useful lives of servers, starting January 1, 2024.

Key figures

Fiscal year ended December 31, 2023

Revenue

$574.8B

Operating income

$36.9B

Net income

$30.4B

EPS

$2.90

Operating cash flow

$84.9B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.