[Amazon results] Strong growth and profitability in 2023, thanks to a rebalanced business model

Featured image of the article [Amazon results] Strong growth and profitability in 2023, thanks to a rebalanced business model

An article by Sophie Baqué et Mélodie Lontjens

Publication

19 February 2024 à 17h58

Updated on 20 February 2024 à 14h42

Reading time

4 minutes

Publication: 19 February 2024 à 17h58, Updated on 20 February 2024 à 14h42

Reading time: 4 minutes

After a sharp post-Covid-19 slowdown, Amazon is recovering. In 2023, sales rose by 11.8% in one year, representing US$60.8 billion in additional revenue. After reorganising logistics business and laying off large numbers of staff, the operating profit more than tripled. Net margin now stands at 5.3% of sales.

An article by Sophie Baqué et Mélodie Lontjens

Publication

19 February 2024 à 17h58

Updated on 20 February 2024 à 14h42

Reading time

4 minutes

Publication: 19 February 2024 à 17h58, Updated on 20 February 2024 à 14h42

Reading time: 4 minutes

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On February 2, 2024, Amazon published the 2023 financial results and reassured the financial markets. Despite suffering a slump a year ago, business recovered in 2023, despite the onslaught of new competition from Chinese players (Temu, Shein and TikTok Shop).

In 2023, Amazon generated net sales of US$574.8 billion, up by 12% at constant exchange rates. A year ago, sales reached US$514 billion. Revenue growth was slightly lower than in 2022, when it rose by 13%. As a reminder, in 2021,...

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Article authors

Featured image of the article Sophie Baqué

Sophie Baqué

Featured image of the article Sophie Baqué

Mélodie Lontjens Journalist

Ancienne stagiaire au sein de la cellule Data et Lab (2024)

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