# EDGAR Filing Document

**Accession Number:** 0001018724
**File Stem:** 0001018724-25-000084
**Filing Date:** 2025-7
**Character Count:** 52597
**Document Hash:** 15c68bd6fb7d4b62cdcc22258b740f79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001018724-25-000084.hdr.sgml**: 20250731

**ACCESSION NUMBER**: 0001018724-25-000084

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250731

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250731

**DATE AS OF CHANGE**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMAZON COM INC
- **CENTRAL INDEX KEY:** 0001018724
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 911646860
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-22513
- **FILM NUMBER:** 251171808

**BUSINESS ADDRESS:**
- **STREET 1:** 410 TERRY AVENUE NORTH
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98109
- **BUSINESS PHONE:** 2062661000

**MAIL ADDRESS:**
- **STREET 1:** 410 TERRY AVENUE NORTH
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98109

?xml version='1.0' encoding='ASCII'? amzn-20250731

<u>[**Table of Contents**](#i57aa68ead6c24669bf5624e10bb2e271_7)</u>

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

_________________________

**FORM 8-K** 

_________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**July 31, 2025** 

**Date of Report**

**(Date of earliest event reported)**

_________________________

**AMAZON.COM, INC.** 

**(Exact name of registrant as specified in its charter)**

_________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-22513** | **91-1646860** |
| **(State or other jurisdiction of<br>incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

**410 Terry Avenue North, Seattle, Washington 98109-5210** 

**(Address of principal executive offices, including Zip Code)**

**(206) 266-1000** 

**(Registrant's telephone number, including area code)**

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on Which Registered** |
| Common Stock, par value $.01 per share | AMZN | Nasdaq Global Select Market |

---

---

| | |
|:---|:---|
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
| Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

<u>[**Table of Contents**](#i57aa68ead6c24669bf5624e10bb2e271_7)</u>

**<u>**TABLE OF CONTENTS**</u>**

---

| | |
|:---|:---|
| **<u>[ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.](#i57aa68ead6c24669bf5624e10bb2e271_10)</u>** | <u>[3](#i57aa68ead6c24669bf5624e10bb2e271_10)</u> |
| **<u>[ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.](#i57aa68ead6c24669bf5624e10bb2e271_16)</u>** | <u>[3](#i57aa68ead6c24669bf5624e10bb2e271_16)</u> |
| <u>[SIGNATURES](#i57aa68ead6c24669bf5624e10bb2e271_22)</u> | <u>[4](#i57aa68ead6c24669bf5624e10bb2e271_22)</u> |
| EXHIBIT 99.1 | |
| EXHIBIT 99.2 | |

---

------

<u>[**Table of Contents**](#i57aa68ead6c24669bf5624e10bb2e271_7)</u>

**ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.**

On July 31, 2025, Amazon.com, Inc. announced its second quarter 2025 financial results. A copy of the press release containing the announcement is included as Exhibit 99.1 and additional information regarding the inclusion of non-GAAP financial measures in certain of Amazon.com, Inc.'s public disclosures, including its second quarter 2025 financial results announcement, is included as Exhibit 99.2. Both of these exhibits are incorporated herein by reference.

**ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.**

&nbsp;&nbsp;&nbsp;&nbsp;***(d) Exhibits.***

---

| | |
|:---|:---|
| **<u>Exhibit<br>Number</u>** | **<u>Description</u>** |
| 99.1 | <u>[Press Release dated](amzn-20250630xex991.htm)July 31, 2025 [announcing Amazon.com, Inc.'s](amzn-20250630xex991.htm)Second [Quarter](amzn-20250630xex991.htm)2025[Financial Results.](amzn-20250630xex991.htm)</u> |
| 99.2 | <u>[Information Regarding Non-GAAP Financial Measures.](amzn-20250630xex992.htm)</u> |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101). |

---

------

<u>[**Table of Contents**](#i57aa68ead6c24669bf5624e10bb2e271_7)</u>

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| AMAZON.COM, INC. (REGISTRANT) | AMAZON.COM, INC. (REGISTRANT) |
| By: | /s/ Brian T. Olsavsky |
|  | **Brian T. Olsavsky** |
|  | **Senior Vice President and<br>Chief Financial Officer** |

---

Dated: July 31, 2025

## Exhibit 99.1

**Exhibit 99.1**

![amazonlogorgba09a.jpg](amazonlogorgba09a.jpg)

**AMAZON.COM ANNOUNCES SECOND QUARTER RESULTS**

SEATTLE—(BUSINESS WIRE) July 31, 2025—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Net sales** increased 13% to $167.7 billion in the second quarter, compared with $148.0 billion in second quarter 2024. Excluding the $1.5 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12% compared with second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• North America segment sales increased 11% year-over-year to $100.1 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International segment sales increased 16% year-over-year to $36.8 billion, or increased 11% excluding changes in foreign exchange rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AWS segment sales increased 17.5% year-over-year to $30.9 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Operating income** increased to $19.2 billion in the second quarter, compared with $14.7 billion in second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• North America segment operating income was $7.5 billion, compared with $5.1 billion in second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International segment operating income was $1.5 billion, compared with $0.3 billion in second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AWS segment operating income was $10.2 billion, compared with $9.3 billion in second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Net income** increased to $18.2 billion in the second quarter, or $1.68 per diluted share, compared with $13.5 billion, or $1.26 per diluted share, in second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Operating cash flow** increased 12% to $121.1 billion for the trailing twelve months, compared with $108.0 billion for the trailing twelve months ended June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Free cash flow** decreased to $18.2 billion for the trailing twelve months, compared with $53.0 billion for the trailing twelve months ended June 30, 2024.

"Our conviction that AI will change every customer experience is starting to play out as we've expanded Alexa+ to millions of customers, continue to see our shopping agent used by many millions of customers, launched AI models like DeepFleet that optimize productivity paths for our 1M+ robots, made it much easier for software developers to write code with Kiro (our new agentic IDE), launched Strands to make it easier to build AI agents, and released Bedrock AgentCore to enable agents to be operated securely and scalably," said Andy Jassy, President and CEO, Amazon. "Our AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth, and I'm excited for what lies ahead."

Some other highlights since the company's last earnings announcement include that Amazon:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Held its biggest Prime Day event ever, with customers saving billions of dollars and independent sellers achieving record sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced expansion of Same-Day and Next-Day Delivery to tens of millions of U.S. customers in 4,000+ smaller cities, towns, and rural communities by end of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Expanded selection with brands like Away, Aveda, Marc Jacobs Fragrances, Milk Makeup, and Origins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced a Nike storefront on Amazon.com where U.S. customers will be able to shop a range of footwear, apparel, and accessories.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Launched generative AI tools to enhance shopping experience, including "Hear the highlights" to turn product summaries and reviews into audio clips, and "Enhance My Listing" to keep listings current and compelling.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Expanded Alexa+ Early Access to millions of customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased Project Kuiper's satellite internet fleet in low earth orbit with two successful launches.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced Prime Video's NBA broadcast team, including Stan Van Gundy, Kevin Harlan, Dwyane Wade, Taylor Rooks, Blake Griffin, Dirk Nowitzki, Steve Nash, and Candace Parker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Drew approximately 2 million viewers per race and youngest audience among NASCAR broadcasters in more than a decade to Prime Video's NASCAR Cup Series coverage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced Denis Villeneuve as director of next James Bond film.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced integration with Roku that gives advertisers access to largest authenticated Connected TV footprint in the U.S., reaching an estimated 80 million households.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Innovated across Amazon Nova, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The most comprehensive suite of model customization capabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Launched Nova Act, which makes it much easier for customers to build agents that can take automated actions across websites.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Expanded languages for Nova Sonic voice AI to include Spanish, French, Italian, and German.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Signed new AWS agreements with PepsiCo, Airbnb, Peloton, London Stock Exchange, Nissan Motor Co., GitLab Inc., SAP, Warner Bros. Discovery Sports, TwelveLabs, FICO, Iberia Airlines, SK Telecom, and NatWest Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced "AI Zones" in the Kingdom of Saudi Arabia (with HUMAIN) and Korea (with SK Group).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced multi-billion dollar investments to expand cloud infrastructure and advance AI innovation in North Carolina, Pennsylvania, and Australia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced new AWS offerings, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Kiro, an agentic integrated development environment that transforms software development through innovations like spec-driven development, intelligent agent hooks, and a purpose-built interface for developer workflows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Bedrock AgentCore for deploying and operating highly capable agents securely at enterprise scale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• General availability of AWS Transform, an AWS agent that cuts mainframe modernization timelines from years to months, completes VMware network conversions up to 80x faster, and reduces operating costs for .NET applications by up to 40%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Strands Agents, an open source tool that enables developers to more easily build new agents, offering support for popular open source frameworks like A2A and MCP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AI agents and tools in AWS Marketplace, with listings from leading providers including Anthropic, Accenture, PwC, Salesforce, and IBM, so customers can easily discover and deploy agents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• New foundation models in Amazon Bedrock, including Anthropic's Claude 4 and TwelveLabs' Marengo and Pegasus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• General availability of Oracle Database@AWS for seamless migration of Oracle Exadata and RAC workloads, zero-ETL integration with Amazon Redshift, and ability to build powerful ML and AI applications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amazon S3 Vectors, which delivers vector storage for AI agents, AI inference, and semantic search, reducing the cost of uploading, storing, and querying vectors by up to 90%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Introduced DeepFleet, an AI model that makes Amazon's one million+ robots work smarter by coordinating movements to find optimal paths and reduce bottlenecks, improving robot travel efficiency by 10%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Enhanced inventory management with AI-powered demand forecasting, improving regional accuracy by 20%, and optimizing inventory placement and delivery speeds for millions of popular items.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Introduced Vulcan, Amazon's first robot to combine sight and touch to navigate cluttered spaces like humans do, making jobs safer and easier.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced 700,000+ employees participated in upskilling programs to date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Launched new robotics and engineering apprenticeships for U.S. employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced 134,000+ employees in 55 countries participated in Amazon's Global Month of Volunteering, supporting 2,500+ organizations and communities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced expansion of water recycling to 120+ AWS U.S. data centers by 2030, expected to preserve over 530 million gallons of drinking water annually.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Supported communities impacted by flooding in central Texas by donating 68,000+ relief items.

**Financial Guidance**

The following forward-looking statements reflect Amazon.com's expectations as of July 31, 2025, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic and geopolitical conditions, tariff and trade policies, and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies, and the various factors detailed below.

Third Quarter 2025 Guidance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales are expected to be between $174.0 billion and $179.5 billion, or to grow between 10% and 13% compared with third quarter 2024. This guidance anticipates a favorable impact of approximately 130 basis points from foreign exchange rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating income is expected to be between $15.5 billion and $20.5 billion, compared with $17.4 billion in third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• This guidance assumes, among other things, that no additional business acquisitions, restructurings, or legal settlements are concluded.

**Conference Call Information**

A conference call will be webcast live today at 2:00 p.m. PT/5:00 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company's financial and operating results.

**Forward-Looking Statements**

*These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, security incidents, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission ("SEC"), including its most recent Annual Report on Form 10-K and subsequent filings.*

**Additional Information**

Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.

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**About Amazon**

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

------

**AMAZON.COM, INC.**

**Consolidated Statements of Cash Flows**

**(in millions)**

**(unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Twelve Months Ended<br>June 30,** | **Twelve Months Ended<br>June 30,** |
| | **2024** | **2025** | **2024** | **2025** | **2024** | **2025** |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD | $73332 | $69893 | $73890 | $82312 | $50067 | $71673 |
| OPERATING ACTIVITIES: |  |  |  |  |  |  |
| Net income | 13485 | 18164 | 23916 | 35291 | 44419 | 70623 |
| Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other | 12038 | 15227 | 23722 | 29489 | 49673 | 58562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 6722 | 6534 | 11683 | 10223 | 23831 | 20551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-operating expense (income), net | (95) | (1258) | 2639 | (4075) | 1310 | (4702) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (785) | 11 | (1723) | 518 | (4383) | (2407) |
| Changes in operating assets and liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (3085) | (4054) | (1309) | (5276) | 2142 | (5851) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net and other | (2209) | (1125) | 1475 | 122 | (9556) | (4602) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | (3055) | (2971) | (5756) | (6373) | (11692) | (15100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 6005 | 7058 | (5277) | (1985) | 8431 | 6264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other | (4147) | (4952) | (7075) | (9013) | (1802) | (4842) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unearned revenue | 407 | (119) | 1975 | 609 | 5579 | 2641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 25281 | 32515 | 44270 | 49530 | 107952 | 121137 |
| INVESTING ACTIVITIES: |  |  |  |  |  |  |
| Purchases of property and equipment | (17620) | (32183) | (32545) | (57202) | (59612) | (107656) |
| Proceeds from property and equipment sales and incentives | 1227 | 815 | 2217 | 1579 | 4633 | 4703 |
| Acquisitions, net of cash acquired, non-marketable investments, and other, net | (571) | (1700) | (3925) | (1652) | (5935) | (4809) |
| Sales and maturities of marketable securities | 3265 | 11441 | 4657 | 19178 | 7618 | 30924 |
| Purchases of marketable securities | (8439) | (17797) | (10404) | (31130) | (11058) | (46731) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | (22138) | (39424) | (40000) | (69227) | (64354) | (123569) |
| FINANCING ACTIVITIES: |  |  |  |  |  |  |
| Proceeds from short-term debt, and other | 525 | 2093 | 863 | 3908 | 1813 | 8187 |
| Repayments of short-term debt, and other | (229) | (1392) | (633) | (3474) | (15066) | (7901) |
| Proceeds from long-term debt |  |  |  | 746 |  | 746 |
| Repayments of long-term debt | (4169) | (2751) | (4499) | (2751) | (4789) | (7434) |
| Principal repayments of finance leases | (538) | (411) | (1308) | (821) | (3092) | (1556) |
| Principal repayments of financing obligations | (79) | (78) | (169) | (194) | (306) | (694) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (4490) | (2539) | (5746) | (2586) | (21440) | (8652) |
| Foreign currency effect on cash, cash equivalents, and restricted cash | (312) | 1008 | (741) | 1424 | (552) | 864 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (1659) | (8440) | (2217) | (20859) | 21606 | (10220) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD | $71673 | $61453 | $71673 | $61453 | $71673 | $61453 |
| SUPPLEMENTAL CASH FLOW INFORMATION: |  |  |  |  |  |  |
| Cash paid for interest on debt, net of capitalized interest | $680 | $523 | $949 | $759 | $2201 | $1668 |
| Cash paid for operating leases | 2844 | 3758 | 6176 | 7320 | 11634 | 13485 |
| Cash paid for interest on finance leases | 72 | 72 | 146 | 143 | 296 | 284 |
| Cash paid for interest on financing obligations | 50 | 52 | 114 | 107 | 210 | 212 |
| Cash paid for income taxes, net of refunds | 5700 | 4761 | 6158 | 5638 | 12983 | 11788 |
| Assets acquired under operating leases | 3911 | 4621 | 7664 | 8942 | 13986 | 16702 |
| Property and equipment acquired under finance leases, net of remeasurements and modifications | 181 | 937 | 223 | 991 | 617 | 1622 |
| Increase (decrease) in property and equipment acquired but not yet paid | 2760 | (1600) | 3171 | 1508 | 3791 | 5376 |

---

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**AMAZON.COM, INC.**

**Consolidated Statements of Operations**

**(in millions, except per share data)**

**(unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2024** | **2025** | **2024** | **2025** |
| Net product sales | $61569 | $68246 | $122484 | $132216 |
| Net service sales | 86408 | 99456 | 168806 | 191153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net sales | 147977 | 167702 | 291290 | 323369 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of sales | 73785 | 80809 | 146418 | 157785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fulfillment | 23566 | 25976 | 45883 | 50569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology and infrastructure | 22304 | 27166 | 42728 | 50160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 10512 | 11416 | 20174 | 21179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 3041 | 2965 | 5783 | 5593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating expense (income), net | 97 | 199 | 325 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 133305 | 148531 | 261311 | 285793 |
| Operating income | 14672 | 19171 | 29979 | 37576 |
| Interest income | 1180 | 1085 | 2173 | 2151 |
| Interest expense | (589) | (516) | (1233) | (1057) |
| Other income (expense), net | (18) | 1117 | (2691) | 3866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-operating income (expense) | 573 | 1686 | (1751) | 4960 |
| Income before income taxes | 15245 | 20857 | 28228 | 42536 |
| Provision for income taxes | (1767) | (2678) | (4234) | (7231) |
| Equity-method investment activity, net of tax | 7 | (15) | (78) | (14) |
| Net income | $13485 | $18164 | $23916 | $35291 |
| Basic earnings per share | $1.29 | $1.71 | $2.30 | $3.32 |
| Diluted earnings per share | $1.26 | $1.68 | $2.24 | $3.27 |
| Weighted-average shares used in computation of earnings per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 10447 | 10637 | 10420 | 10620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 10708 | 10806 | 10689 | 10800 |

---

------

**AMAZON.COM, INC.**

**Consolidated Statements of Comprehensive Income**

**(in millions)**

**(unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2024** | **2025** | **2024** | **2025** |
| Net income | $13485 | $18164 | $23916 | $35291 |
| Other comprehensive income (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustments, net of tax of $58, $(142), $88, and $(208) | (637) | 3314 | (1733) | 4849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Available-for-sale debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized gains (losses), net of tax of $(69), $(12), $(227), and $(23) | 241 | 40 | 777 | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: reclassification adjustment for losses (gains) included in "Other income (expense), net," net of tax of $(1), $5, $(1), and $814 | 3 | (17) | 4 | (2471) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change | 244 | 23 | 781 | (2394) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net of tax of $(1), $(1), $(2), and $0 | (2) | (3) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income (loss) | (395) | 3334 | (953) | 2454 |
| Comprehensive income | $13090 | $21498 | $22963 | $37745 |

---

------

**AMAZON.COM, INC.**

**Segment Information**

**(in millions)**

**(unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2024** | **2025** | **2024** | **2025** |
| **North America** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales | $90033 | $100068 | $176374 | $192955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses | 84968 | 92551 | 166326 | 179597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | $5065 | $7517 | $10048 | $13358 |
| **International** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales | $31663 | $36761 | $63598 | $70274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses | 31390 | 35267 | 62422 | 67763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | $273 | $1494 | $1176 | $2511 |
| **AWS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales | $26281 | $30873 | $51318 | $60140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses | 16947 | 20713 | 32563 | 38433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | $9334 | $10160 | $18755 | $21707 |
| **Consolidated** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales | $147977 | $167702 | $291290 | $323369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses | 133305 | 148531 | 261311 | 285793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | 14672 | 19171 | 29979 | 37576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-operating income (expense) | 573 | 1686 | (1751) | 4960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | (1767) | (2678) | (4234) | (7231) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity-method investment activity, net of tax | 7 | (15) | (78) | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $13485 | $18164 | $23916 | $35291 |
| **Segment Highlights:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Y/Y net sales growth: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North America | 9% | 11% | 11% | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 7 | 16 | 8 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AWS | 19 | 17 | 18 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated | 10 | 13 | 11 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales mix: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North America | 61% | 60% | 60% | 60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 21 | 22 | 22 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AWS | 18 | 18 | 18 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated | 100% | 100% | 100% | 100% |

---

------

**AMAZON.COM, INC.**

**Consolidated Balance Sheets**

**(in millions, except per share data)**

 **(unaudited)**

---

| | | |
|:---|:---|:---|
| | **December 31, 2024** | **June 30, 2025** |
| **<u>ASSETS</u>** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $78779 | $57741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketable securities | 22423 | 35439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 34214 | 40825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net and other | 55451 | 57415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 190867 | 191420 |
| Property and equipment, net | 252665 | 297616 |
| Operating leases | 76141 | 82125 |
| Goodwill | 23074 | 23155 |
| Other assets | 82147 | 87854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $624894 | $682170 |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $94363 | $98285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other | 66965 | 66974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unearned revenue | 18103 | 21662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 179431 | 186921 |
| Long-term lease liabilities | 78277 | 83221 |
| Long-term debt | 52623 | 50718 |
| Other long-term liabilities | 28593 | 27535 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock ($0.01 par value; 100,000 shares authorized; 11,108 and 11,175 shares issued; 10,593 and 10,660 shares outstanding) | 111 | 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, at cost | (7837) | (7837) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 120864 | 130923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | (34) | 2420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 172866 | 208157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 285970 | 333775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $624894 | $682170 |

---

------

**AMAZON.COM, INC.**

**Supplemental Financial Information and Business Metrics**

**(in millions, except per share data)**

**(unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Q1 2025** | **Q2 2025** | **Y/Y %<br>Change** |
| **Cash Flows and Shares** | | | | | | | |
| Operating cash flow -- trailing twelve months (TTM) | $99147 | $107952 | $112706 | $115877 | $113903 | $121137 | 12% |
| Operating cash flow -- TTM Y/Y growth | 82% | 75% | 57% | 36% | 15% | 12% | N/A |
| Purchases of property and equipment, net of proceeds from sales and incentives -- TTM | $48998 | $54979 | $64959 | $77658 | $87978 | $102953 | 87% |
| Free cash flow -- TTM (1) | $50149 | $52973 | $47747 | $38219 | $25925 | $18184 | (66)% |
| Common shares and stock-based awards outstanding | 10788 | 10871 | 10872 | 10876 | 10876 | 10952 | 1% |
| Common shares outstanding | 10403 | 10490 | 10511 | 10593 | 10613 | 10660 | 2% |
| Stock-based awards outstanding | 385 | 381 | 361 | 283 | 263 | 292 | (23)% |
| Stock-based awards outstanding -- % of common shares outstanding | 3.7% | 3.6% | 3.4% | 2.7% | 2.5% | 2.7% | N/A |
| **Results of Operations** |  |  |  |  |  |  |  |
| Worldwide (WW) net sales | $143313 | $147977 | $158877 | $187792 | $155667 | $167702 | 13% |
| WW net sales -- Y/Y growth, excluding F/X | 13% | 11% | 11% | 11% | 10% | 12% | N/A |
| WW net sales -- TTM | $590740 | $604334 | $620128 | $637959 | $650313 | $670038 | 11% |
| WW net sales -- TTM Y/Y growth, excluding F/X | 12% | 12% | 12% | 11% | 11% | 11% | N/A |
| Operating income | $15307 | $14672 | $17411 | $21203 | $18405 | $19171 | 31% |
| F/X impact -- favorable | $72 | $29 | $16 | $14 | $53 | $153 | N/A |
| Operating income -- Y/Y growth, excluding F/X | 219% | 91% | 55% | 60% | 20% | 30% | N/A |
| Operating margin -- % of WW net sales | 10.7% | 9.9% | 11.0% | 11.3% | 11.8% | 11.4% | N/A |
| Operating income -- TTM | $47385 | $54376 | $60599 | $68593 | $71691 | $76190 | 40% |
| Operating income -- TTM Y/Y growth, excluding F/X | 252% | 205% | 129% | 86% | 51% | 40% | N/A |
| Operating margin -- TTM % of WW net sales | 8.0% | 9.0% | 9.8% | 10.8% | 11.0% | 11.4% | N/A |
| Net income | $10431 | $13485 | $15328 | $20004 | $17127 | $18164 | 35% |
| Net income per diluted share | $0.98 | $1.26 | $1.43 | $1.86 | $1.59 | $1.68 | 33% |
| Net income -- TTM | $37684 | $44419 | $49868 | $59248 | $65944 | $70623 | 59% |
| Net income per diluted share -- TTM | $3.56 | $4.18 | $4.67 | $5.53 | $6.13 | $6.55 | 57% |

---

______________________________

&nbsp;&nbsp;&nbsp;&nbsp;(1)Free cash flow is cash flow from operations reduced by "Purchases of property and equipment, net of proceeds from sales and incentives."

------

**AMAZON.COM, INC.**

**Supplemental Financial Information and Business Metrics**

**(in millions)**

**(unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Q1 2025** | **Q2 2025** | **Y/Y %<br>Change** |
| **Segments** | | | | | | | |
| North America Segment: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales | $86341 | $90033 | $95537 | $115586 | $92887 | $100068 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales -- Y/Y growth, excluding F/X | 12% | 9% | 9% | 10% | 8% | 11% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales -- TTM | $362288 | $369775 | $377425 | $387497 | $394043 | $404078 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income | $4983 | $5065 | $5663 | $9256 | $5841 | $7517 | 48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; F/X impact -- favorable (unfavorable) | $8 | $8 | $(28) | $(49) | $(32) | $(46) | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income -- Y/Y growth, excluding F/X | 454% | 58% | 32% | 44% | 18% | 49% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating margin -- % of North America net sales | 5.8% | 5.6% | 5.9% | 8.0% | 6.3% | 7.5% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income -- TTM | $18962 | $20816 | $22172 | $24967 | $25825 | $28277 | 36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating margin -- TTM % of North America net sales | 5.2% | 5.6% | 5.9% | 6.4% | 6.6% | 7.0% | N/A |
| International Segment: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales | $31935 | $31663 | $35888 | $43420 | $33513 | $36761 | 16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales -- Y/Y growth, excluding F/X | 11% | 10% | 12% | 9% | 8% | 11% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales -- TTM | $134012 | $135978 | $139729 | $142906 | $144484 | $149582 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income | $903 | $273 | $1301 | $1315 | $1017 | $1494 | 448% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; F/X impact -- favorable (unfavorable) | $(3) | $(94) | $43 | $6 | $(56) | $338 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income -- Y/Y growth, excluding F/X | N/A | N/A | N/A | N/A | 19% | 324% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating margin -- % of International net sales | 2.8% | 0.9% | 3.6% | 3.0% | 3.0% | 4.1% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income (loss) -- TTM | $(506) | $662 | $2058 | $3792 | $3906 | $5127 | 674% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating margin -- TTM % of International net sales | (0.4)% | 0.5% | 1.5% | 2.7% | 2.7% | 3.4% | N/A |
| AWS Segment: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales | $25037 | $26281 | $27452 | $28786 | $29267 | $30873 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales -- Y/Y growth, excluding F/X | 17% | 19% | 19% | 19% | 17% | 17% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net sales -- TTM | $94440 | $98581 | $102974 | $107556 | $111786 | $116378 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income | $9421 | $9334 | $10447 | $10632 | $11547 | $10160 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; F/X impact -- favorable (unfavorable) | $67 | $115 | $1 | $57 | $141 | $(139) | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income -- Y/Y growth, excluding F/X | 83% | 72% | 50% | 48% | 21% | 10% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating margin -- % of AWS net sales | 37.6% | 35.5% | 38.1% | 36.9% | 39.5% | 32.9% | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income -- TTM | $28929 | $32898 | $36369 | $39834 | $41960 | $42786 | 30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating margin -- TTM % of AWS net sales | 30.6% | 33.4% | 35.3% | 37.0% | 37.5% | 36.8% | N/A |

---

------

**AMAZON.COM, INC.**

**Supplemental Financial Information and Business Metrics**

**(in millions, except employee data)**

**(unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Q1 2025** | **Q2 2025** | **Y/Y %<br>Change** |
| **Net Sales** | | | | | | | |
| Online stores (1) | $54670 | $55392 | $61411 | $75556 | $57407 | $61485 | 11% |
| &nbsp;&nbsp;&nbsp;Online stores -- Y/Y growth, excluding F/X | 7% | 6% | 8% | 8% | 6% | 10% | N/A |
| Physical stores (2) | $5202 | $5206 | $5228 | $5579 | $5533 | $5595 | 7% |
| &nbsp;&nbsp;&nbsp;Physical stores -- Y/Y growth, excluding F/X | 6% | 4% | 5% | 8% | 6% | 7% | N/A |
| Third-party seller services (3) | $34596 | $36201 | $37864 | $47485 | $36512 | $40348 | 11% |
| &nbsp;&nbsp;&nbsp;Third-party seller services -- Y/Y growth, excluding F/X | 16% | 13% | 10% | 9% | 7% | 10% | N/A |
| Advertising services (4) | $11824 | $12771 | $14331 | $17288 | $13921 | $15694 | 23% |
| &nbsp;&nbsp;&nbsp;Advertising services -- Y/Y growth, excluding F/X | 24% | 20% | 19% | 18% | 19% | 22% | N/A |
| Subscription services (5) | $10722 | $10866 | $11278 | $11508 | $11715 | $12208 | 12% |
| &nbsp;&nbsp;&nbsp;Subscription services -- Y/Y growth, excluding F/X | 11% | 11% | 11% | 10% | 11% | 11% | N/A |
| AWS | $25037 | $26281 | $27452 | $28786 | $29267 | $30873 | 17% |
| &nbsp;&nbsp;&nbsp;AWS -- Y/Y growth, excluding F/X | 17% | 19% | 19% | 19% | 17% | 17% | N/A |
| Other (6) | $1262 | $1260 | $1313 | $1590 | $1312 | $1499 | 19% |
| &nbsp;&nbsp;&nbsp;Other -- Y/Y growth (decline), excluding F/X | 23% | (6)% | 5% | 17% | 4% | 18% | N/A |
| **Stock-based Compensation Expense** |  |  |  |  |  |  |  |
| Cost of sales | $174 | $266 | $193 | $205 | $148 | $250 | (6)% |
| Fulfillment | $636 | $944 | $696 | $697 | $497 | $880 | (7)% |
| Technology and infrastructure | $2772 | $3670 | $2961 | $2747 | $2060 | $3655 | —% |
| Sales and marketing | $932 | $1224 | $1012 | $916 | $653 | $1207 | (1)% |
| General and administrative | $447 | $618 | $471 | $430 | $331 | $542 | (12)% |
| &nbsp;&nbsp;&nbsp;Total stock-based compensation expense | $4961 | $6722 | $5333 | $4995 | $3689 | $6534 | (3)% |
| **Other** |  |  |  |  |  |  |  |
| WW shipping costs | $21834 | $21965 | $23501 | $28549 | $22495 | $23370 | 6% |
| WW shipping costs -- Y/Y growth | 10% | 8% | 8% | 4% | 3% | 6% | N/A |
| WW paid units -- Y/Y growth (7) | 12% | 11% | 12% | 11% | 8% | 12% | N/A |
| WW seller unit mix -- % of WW paid units (7) | 61% | 61% | 60% | 62% | 61% | 62% | N/A |
| Employees (full-time and part-time; excludes contractors & temporary personnel) | 1521000 | 1532000 | 1551000 | 1556000 | 1560000 | 1546000 | 1% |
| Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth | 4% | 5% | 3% | 2% | 3% | 1% | N/A |

---

________________________

&nbsp;&nbsp;&nbsp;&nbsp;(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in "Subscription services."

&nbsp;&nbsp;&nbsp;&nbsp;(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in "Online stores."

&nbsp;&nbsp;&nbsp;&nbsp;(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.

&nbsp;&nbsp;&nbsp;&nbsp;(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.

&nbsp;&nbsp;&nbsp;&nbsp;(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.

&nbsp;&nbsp;&nbsp;&nbsp;(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.

&nbsp;&nbsp;&nbsp;&nbsp;(7)Excludes the impact of Whole Foods Market.

------

**Amazon.com, Inc.**

**Certain Definitions**

*Customer Accounts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• References to customers mean customer accounts established when a customer places an order through one of our stores. Customer accounts exclude certain customers, including customers associated with certain of our acquisitions, Amazon Payments customers, AWS customers, and the customers of select companies with whom we have a technology alliance or marketing and promotional relationship. Customers are considered active when they have placed an order during the preceding twelve-month period.

*Seller Accounts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• References to sellers means seller accounts, which are established when a seller receives an order from a customer account. Sellers are considered active when they have received an order from a customer during the preceding twelve-month period.

*AWS Customers*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• References to AWS customers mean unique AWS customer accounts, which are unique customer account IDs that are eligible to use AWS services. This includes AWS accounts in the AWS free tier. Multiple users accessing AWS services via one account ID are counted as a single account. Customers are considered active when they have had AWS usage activity during the preceding one-month period.

*Units*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• References to units mean physical and digital units sold (net of returns and cancellations) by us and sellers in our stores as well as Amazon-owned items sold in other stores. Units sold are paid units and do not include units associated with AWS, certain acquisitions, certain subscriptions, rental businesses, or advertising businesses, or Amazon gift cards.

**Contacts:**

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| | |
|:---|:---|
| Amazon Investor Relations | Amazon Public Relations |
| amazon-ir@amazon.com | amazon-pr@amazon.com |
| amazon.com/ir | amazon.com/pr |

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## Exhibit 99.2

**Exhibit 99.2**

***Non-GAAP Financial Measures***

Regulation G, Conditions for Use of Non-GAAP Financial Measures, and other SEC regulations define and prescribe the conditions for use of certain non-GAAP financial information. Free cash flow and the effect of foreign exchange rates on our consolidated statements of operations meet the definition of non-GAAP financial measures.

Our financial focus is on long-term, sustainable growth in free cash flow. We provide a free cash flow measure because we believe it provides additional perspective on the impact of acquiring property and equipment with cash.

Free cash flow is cash flow from operations reduced by "Purchases of property and equipment, net of proceeds from sales and incentives."

Free cash flow has limitations as it omits certain components of the overall cash flow statement and does not represent the residual cash flow available for discretionary expenditures. For example, free cash flow does not incorporate the portion of payments representing principal reductions of debt or cash payments for business acquisitions. Additionally, our mix of property and equipment acquisitions with cash or other financing options may change over time. Therefore, we believe it is important to view free cash flow only as a complement to our entire consolidated statements of cash flows.

For a quantitative reconciliation of free cash flow to the most directly comparable amounts reported in accordance with GAAP, see "Supplemental Financial Information and Business Metrics" in Exhibit 99.1 to this Current Report on Form 8-K.

The effect on our consolidated statements of operations from changes in foreign exchange rates versus the U.S. Dollar is also a non-GAAP financial measure. Information regarding the effect of foreign exchange rates, versus the U.S. Dollar, on our consolidated statements of operations is provided to show reported period operating results had the foreign exchange rates remained the same as those in effect in the comparable prior year period. We include various measures on both an as-reported basis and a basis showing the effect of changes in foreign exchange rates versus the U.S. Dollar in "Supplemental Financial Information and Business Metrics" in Exhibit 99.1 to this Current Report on Form 8-K.

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