Amazon’s international arm is on track to swing to an annual profit as moves to streamline the retailer’s logistics operations bear fruit after years of losses.
The $131bn unit, which serves Amazon’s customers outside North America, looks set to report an operating profit of $1.6bn this year, rising to more than $5bn next, according to analysts in a recent Refinitiv poll. Analysts at JPMorgan have gone further, with a forecast of $4.3bn in 2024.
The tech giant’s international segment posted a $2.7bn operating loss last year, but a strong start to 2024 pushed the business to profit during the first quarter. The unit had previously last turned an annual profit during the pandemic which led to a shortlived boom for ecommerce groups.
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