Amazon's revenue hit $638 billion in 2024, driven by strong performance in North America and AWS.

by MarketNewsData

Amazon closed out 2024 with a massive $638 billion in total revenue, continuing its reign as one of the world’s most diversified and dominant companies. Let’s take a look at how that revenue is broken down across different business lines, product categories, and services.

Revenue by Business Segment

Amazon reports its performance in three primary segments:

  • North America led the way with $387.5 billion, accounting for around 61% of total revenue. This includes retail operations, digital content, and subscriptions like Prime across the U.S. and Canada.
  • International operations brought in $142.9 billion, or roughly 22% of total revenue. This captures Amazon’s e-commerce and digital services in Europe, Asia, and other regions outside North America.
  • Amazon Web Services (AWS), the company’s cloud computing powerhouse, contributed $107.6 billion, making up about 17% of the total. AWS continues to be one of Amazon’s most profitable segments, despite making up a smaller piece of the revenue pie.

Revenue by Category: Product vs. Services

Breaking things down a little further:

  • Product Sales totaled $272.3 billion (43% of total revenue). These are the traditional retail sales from Amazon’s own inventory—things like books, electronics, household items, and Amazon devices.
  • Service Sales came in at $365.6 billion (57%). This category includes third-party seller fees (commissions, fulfillment, and shipping), AWS, advertising services, Prime subscriptions, and digital content.

Estimated E-Commerce Revenue

While Amazon doesn’t explicitly label “e-commerce” as a category in its filings, we can get a good estimate by combining:

  • Product Sales: $272.3 billion
  • Third-Party Marketplace Services: estimated at $140 to $160 billion

That gives us a total e-commerce revenue range of roughly $412 billion to $432 billion, representing around 65% to 68% of total revenue. This aligns with Amazon’s core business: facilitating and delivering online shopping at global scale.

Final Thoughts

Amazon’s revenue breakdown shows a powerful mix of retail, cloud, and service-based revenue. The majority still comes from e-commerce, but AWS and advertising continue to gain ground and provide high-margin support to the business.

If you’re watching Amazon’s trajectory, this diversification is key—it’s not just an online store anymore, but a tech infrastructure giant, media platform, and global logistics force all rolled into one.

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