(NASDAQ:AMZN) finished out 2019 on a strong note. Sales in the company's recently reported fourth quarter handily beat analysts' estimates, and earnings per share crushed expectations, sending the stock soaring to all-time highs and pushing Amazon's market cap to more than a trillion dollars.

As investors look back on the e-commerce and cloud computing giant's record year, here are some of the most notable highlights.

Boxes on a conveyor belt in an Amazon fulfillment center.

Image source: Amazon.

$280.5 billion

Amazon's total sales in 2019 were $280.5 billion, up 20% from sales of $232.9 billion in 2018. But even this growth rate understates the company's strong top-line momentum, as sales were up 22% year over year when excluding unfavorable impacts from year-over-year changes in foreign exchange rates during 2019.


Long gone are the years when Amazon struggled to report regular profits. The company's net income during 2019 rose to a record $11.6 billion. This translated to earnings per share of $23.01 -- up from $20.14 in 2018.

$25.8 billion

Amazon's profitability also shows up on its cash flow statement. Free cash flow, or cash from operations less capital expenditures, rose 33% year over year to $25.8 billion.


Revenue from the company's cloud computing business, Amazon Web Services (AWS), continues to grow at a much faster rate than the company's consolidated business. AWS revenue in 2019 rose 37% year over year to $35 billion.

This put AWS revenue at 12.5% of total 2019 revenue, up from 11% of revenue in 2018.

$9.2 billion

AWS operating income continues to be key to the company's consolidated profitability, despite representing only 12.5% of revenue. Total AWS operating income in 2019 was $9.2 billion. This compares to Amazon's total operating income of $14.5 billion. In other words, AWS represented 63% of Amazon's total operating income in 2019.


Amazon finished the year with a trailing-12-month operating margin of 5.2% -- about in line with its operating margin of 5.3% in 2018.

While Amazon's operating margin of just over 5% may not seem impressive at first glance, consider that retailer juggernaut Walmart has nearly double the sales of Amazon yet has an operating margin of 4.1%. Amazon's superior operating margin despite its more aggressive investments in future growth opportunities is a testament to the company's stronger business model.

$73 billion

Looking to 2020, management seems confident in the company's continued growth prospects. Amazon guided for first-quarter revenue as high as $73 billion -- up 22% from revenue of $59.7 billion in the first quarter of 2019. Specifically, management said it expects revenue during its first quarter of 2020 to be between $69 billion and $73 billion. Actual revenue, however, typically comes in toward the high end (or even above) management's guidance range.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.