Amazon operating income by segment 2023

In 2023, the annual operating income of Amazon’s Web Services (AWS) business amounted to approximately 24.6 billion U.S. dollars, up from the previous year. Despite being primarily known as an online retailer, the company's cloud business AWS generated the most operating profit out of all the key operations segments. Being one of the main cloud providers, AWS counts several big tech groups among its spenders – from Netflix to Adobe, and from Sony to X.

Amazon’s most challenging business

As figures on annual operating income show, Amazon reported negative profit in the international segment over the last three financial years. According to the company itself, this is mainly related to the higher financial risks that running a business brings internationally. Outside of North America, Amazon must comply with multiple government regulations and legal systems, compete with other players, and manage logistics operations where transport infrastructure is still lacking.

Amazon’s issues in India

Together with China, India is one of the most challenging markets for Amazon. Here, Amazon’s revenue has increased to nearly 222 billion Indian rupees – roughly 2.6 billion U.S. dollars. The consumer base has grown, and Amazon has managed to outdo other competitors in the Indian market. However, the activity of e-commerce giant has been under the scrutiny of institutions and trade unions due to the poor conditions of warehouse workers in Amazon’s facilities.

Annual operating income/loss of Amazon from 2014 to 2023, by segment (in million U.S. dollar)

Characteristic	North America	International	AWS
2014	360	-640	458
2015	1,425	-699	1,507
2016	2,361	-1,283	3,108
2017	2,837	-3,062	4,331
2018	7,267	-2,142	7,296
2019	7,033	-1,693	9,201
2020	8,651	717	13,531
2021	7,271	-924	18,532
2022	-2,847	-7,746	22,841
2023	14,877	-2,656	24,631

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Release date

February 2024

More information

Region

United States

Survey time period

2014 to 2023

Supplementary notes

In Q1 2016, the company began allocating stock-based compensation and “Other operating expense, net” to the segment results and subsequently, results prior to 2014 cannot be compared to the adjusted figures of 2014 and 2015.

The company defines its business segment as follows: "The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and subscriptions through North America-focused websites such as www.amazon.com, www.amazon.ca, and www.amazon.com.mx. This segment includes export sales from these websites."

"The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and subscriptions through internationally-focused websites such as www.amazon.com.au, www.amazon.com.br, www.amazon.cn, www.amazon.fr, www.amazon.de, www.amazon.in, www.amazon.it, www.amazon.co.jp, www.amazon.nl, www.amazon.es, and www.amazon.co.uk. This segment includes export sales from these internationally-focused websites (including export sales from these sites to customers in the U.S., Mexico, and Canada), but excludes export sales from our North American websites."

"The AWS segment consists of amounts earned from global sales of compute, storage, database, and other service offerings for start-ups, enterprises, government agencies, and academic institutions."

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