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Sep 30
Amazon Q3 2025 Earnings Report
Amazon reported strong third-quarter results driven by AWS acceleration and AI demand.
Key Takeaways
Amazon posted a robust Q3 2025 with $180.2B in revenue and $21.2B in net income, fueled by significant growth in AWS and continued consumer demand across geographies.
AWS revenue surged 20% year-over-year to $33.0B, showing its fastest growth since 2022.
Net income reached $21.2B, significantly boosted by a $9.5B gain from its investment in Anthropic.
North America revenue grew 11% YoY to $106.3B, reflecting continued strong consumer demand.
Amazon incurred $4.3B in one-time charges from a legal settlement and severance costs.
Amazon
Amazon
Amazon Revenue by Segment
Amazon Revenue by Geographic Location
Revenue by Segment
North America Revenue
CapyFin.comInternational Revenue
CapyFin.comAWS Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Amazon expects Q4 revenue between $206B and $213B and operating income between $21B and $26B.
Positive Outlook
- Revenue expected to grow 10%–13% YoY in Q4.
- Favorable FX impact of ~190 basis points anticipated.
- Strong AWS demand expected to continue into Q4.
- Expanding fulfillment capacity and delivery speeds.
- Continued AI-driven efficiencies across business lines.
Challenges Ahead
- Legal and severance-related charges impacted Q3 margins.
- Lower North America operating income despite revenue growth.
- Free cash flow declined due to $50.9B increase in capex YoY.
- International segment operating income slightly down YoY.
- Macroeconomic factors and FX volatility remain risks.