Strong Revenue and Profit Growth
Net revenues grew by nearly $6 billion or 23% in constant currency over the past 12 months. Gross profit grew 29%, excluding Farfetch and the FC fire insurance gain. Adjusted EBITDA was $1.4 billion with margins expanding to 4.5%.
Expansion of Delivery Services
Significant upgrades to fulfillment and logistics increased same-day or dawn deliveries by 45%. Next-day Rocket Delivery was expanded to include installation services for large appliances and other items.
Automation and Technology Investments
Investments in robotics and automation nearly doubled the portion of highly automated logistics infrastructure, improving line-haul costs by 16% and increasing productivity.
International Market Success
Taiwan operations saw a 23% quarter-over-quarter growth in net revenues in Q4 2024, with the launch of the WOW membership program indicating strong customer response.
Turnaround of Farfetch
The acquisition of Farfetch led to a turnaround from significant losses to a breakeven run rate, maintaining scale with 49 million monthly visitors across 190 countries.
Product Commerce Segment Growth
Product Commerce segment revenue grew 9% year-over-year, with a 16% growth in constant currency. Gross profit grew 31% with a margin of 32.7%.