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Sep 30, 2025
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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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