10-QPeriod: Q1 FY2025

AMAZON COM INC Quarterly Report for Q1 Ended Mar 31, 2025

Filed May 2, 2025For Securities:AMZN

Summary

Amazon.com, Inc. reported robust financial performance for the quarter ending March 31, 2025. Total net sales increased by 9% year-over-year to $155.7 billion, driven by strong growth across all segments, particularly AWS and North America retail. Net income saw a substantial rise of 64% to $17.1 billion, or $1.59 per diluted share, indicating improved profitability and operational efficiency. The company demonstrated strong operational execution with significant increases in operating income for North America, International, and AWS segments. Investments in technology and infrastructure continue to be a priority, reflecting Amazon's commitment to innovation and future growth, especially within AWS. Despite increased capital expenditures, the company maintained a healthy cash flow from operations and ended the quarter with a strong liquidity position.

Financial Highlights

51 data points
Beta

Revenue

$155.67B

50.6% Gross Margin

Net Income

$17.13B

11.0% Net Margin

EPS (Diluted)

$1.59

Total Assets

$643.26B

Cash & Equivalents

$66.21B

Free Cash Flow

$17.02B

Financial Statements
Beta
Revenue$155.67B
Cost of Revenue$76.98B
Gross Profit$78.69B
Operating Expenses$137.26B
Operating Income$18.41B
Net Income$17.13B
EPS (Basic)$1.62
EPS (Diluted)$1.59
Shares Outstanding (Basic)10.60B
Shares Outstanding (Diluted)10.79B

Key Highlights

  • 1Total net sales grew 9% to $155.7 billion, with North America up 8%, International up 5%, and AWS up 17%.
  • 2Net income surged 64% to $17.1 billion, with diluted earnings per share at $1.59.
  • 3Operating income increased significantly across all segments: North America up 17%, International up 12%, and AWS up 23%.
  • 4AWS continues to be a major growth driver, with net sales increasing 17% and operating income up 23%.
  • 5Investments in property and equipment increased significantly to $27.4 billion in Q1 2025, up from $14.6 billion in Q1 2024, reflecting strategic growth initiatives.
  • 6The company reported a substantial increase in cash provided by investing activities, primarily driven by purchases of marketable securities and capital expenditures.
  • 7Free cash flow for the trailing twelve months ended March 31, 2025, was $25.9 billion, down from $50.1 billion in the prior year, reflecting increased capital expenditures.

Frequently Asked Questions

For the quarter ended March 31, 2025, Amazon reported total net sales of $155.7 billion, an increase of 9% compared to the prior year. Net income was $17.1 billion, a significant increase of 64% from $10.4 billion in the same period last year. Diluted earnings per share were $1.59.

All three segments showed growth. North America net sales increased by 8% to $92.9 billion. International net sales grew by 5% to $33.5 billion. Amazon Web Services (AWS) demonstrated particularly strong performance with net sales up 17% to $29.3 billion.

Amazon expects second quarter 2025 net sales to be between $159.0 billion and $164.0 billion, representing growth of 7% to 11% compared to the second quarter of 2024. Operating income is expected to be between $13.0 billion and $17.5 billion.

The substantial increase in investments in property and equipment, particularly in AWS ($20.5 billion in Q1 2025 vs. $7.9 billion in Q1 2024), reflects Amazon's strategic focus on expanding its technology infrastructure to support continued growth in AWS and other Amazon businesses, including initiatives related to artificial intelligence and machine learning.