Amazon.com, Inc. (AMZN) Income Statement
AMZN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAMZN revenue and net income
Where AMZN's revenue goes
2025Each bar shows an amount and its share of revenue. AMZN kept 10.8% of revenue as net income.
AMZN profit margins
AMZN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.4% | +11.7% | +13.2% | +21.0% |
| Gross profit | +15.7% | +17.0% | +18.7% | +44.0% |
| Operating income | +16.6% | +86.9% | +28.4% | +43.0% |
| Net income | +31.1% | — | +29.5% | +62.7% |
| EPS (diluted) | +29.7% | — | +28.0% | +61.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AMZN quarterly EPS vs estimates
Amazon beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $2.02).
AMZN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $716.92B | $637.96B | $574.78B | $513.98B | $469.82B | $386.06B | $280.52B | $232.89B | $177.87B | $135.99B |
| Cost of revenue | $356.41B | $326.29B | $304.74B | $288.83B | $272.34B | $233.31B | $165.54B | $139.16B | $111.93B | $121.97B |
| Gross profit | $360.51B | $311.67B | $270.05B | $225.15B | $197.48B | $152.76B | $114.99B | $93.73B | $65.93B | $14.02B |
| Research & development | $108.52B | $88.54B | $85.62B | $73.21B | $56.05B | $42.74B | $35.93B | $28.84B | $22.62B | $16.09B |
| Sales, general & admin | $58.30B | $55.27B | $56.19B | $54.13B | $41.37B | $28.68B | $24.08B | $18.15B | $13.74B | $9.66B |
| Total operating expenses | $280.54B | $243.08B | $232.43B | $501.74B | $444.94B | $363.17B | $265.98B | $220.47B | $173.76B | $131.80B |
| Operating income | $79.97B | $68.59B | $36.85B | $12.25B | $24.88B | $22.90B | $14.54B | $12.42B | $4.11B | $4.19B |
| Interest income | $2.11B | $4.68B | $2.49B | $989.0M | $448.0M | $555.0M | $832.0M | $440.0M | $202.0M | $100.0M |
| Interest expense | $2.27B | $2.41B | $3.18B | $2.37B | $1.81B | $1.65B | $1.60B | $1.42B | $848.0M | $484.0M |
| Income before taxes | $96.76B | $68.51B | $37.56B | −$5.94B | $38.15B | $24.18B | $13.98B | $11.26B | $3.81B | $3.89B |
| Income taxes | $19.09B | $9.27B | $7.12B | −$3.22B | $4.79B | $2.86B | $2.37B | $1.35B | $1.56B | $1.43B |
| Net income | $77.67B | $59.25B | $30.43B | −$2.72B | $33.36B | $21.33B | $11.59B | $10.07B | $3.03B | $2.37B |
| EBITDA | $165.34B | $123.81B | $85.52B | $54.17B | $59.31B | $48.08B | $37.37B | $27.76B | $15.58B | $12.30B |
| EPS (diluted) | $7.17 | $5.53 | $2.90 | −$0.27 | $3.25 | $2.09 | $1.14 | $1.00 | $0.23 | $0.25 |
| Gross margin | 50.3% | 48.9% | 47.0% | 43.8% | 42.0% | 39.6% | 41.0% | 40.2% | 37.1% | 10.3% |
| Operating margin | 11.2% | 10.8% | 6.4% | 2.4% | 5.3% | 5.9% | 5.2% | 5.3% | 2.3% | 3.1% |
| Net margin | 10.8% | 9.3% | 5.3% | −0.5% | 7.1% | 5.5% | 4.1% | 4.3% | 1.7% | 1.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $200.61B | $181.52B | $213.39B | $180.17B | $167.70B | $155.67B | $187.79B | $158.88B | $147.98B | $143.31B | $169.96B | $143.08B |
| Cost of revenue | $95.78B | $87.46B | $109.96B | $88.67B | $80.81B | $76.98B | $98.89B | $80.98B | $73.78B | $72.63B | $92.55B | $75.02B |
| Gross profit | $104.83B | $94.06B | $103.43B | $91.50B | $86.89B | $78.69B | $88.90B | $77.90B | $74.19B | $70.68B | $77.41B | $68.06B |
| Research & development | $33.16B | $29.57B | $29.40B | $28.96B | $27.17B | $22.99B | $23.57B | $22.25B | $22.30B | $16.96B | $22.04B | $21.20B |
| Sales, general & admin | $14.49B | $12.90B | $16.97B | $14.56B | $14.38B | $12.39B | $15.99B | $13.32B | $13.55B | $12.40B | $15.91B | $13.11B |
| Total operating expenses | $77.37B | $70.20B | $78.45B | $74.08B | $67.72B | $60.29B | $67.70B | $60.49B | $59.42B | $55.15B | $64.05B | $56.63B |
| Operating income | $27.46B | $23.85B | $24.98B | $17.42B | $19.17B | $18.41B | $21.20B | $17.41B | $14.77B | $15.31B | $13.21B | $11.19B |
| Interest income | — | $1.14B | $451.0M | $1.10B | $569.0M | $1.07B | $1.25B | $1.26B | — | $993.0M | $901.0M | $1.07B |
| Interest expense | $1.31B | $800.0M | $679.0M | $538.0M | $516.0M | $541.0M | $570.0M | $603.0M | $589.0M | $644.0M | $713.0M | $806.0M |
| Income before taxes | $80.86B | $39.83B | $26.14B | $28.10B | $20.84B | $21.68B | $22.33B | $18.03B | $15.24B | $12.90B | $13.69B | $12.19B |
| Income taxes | $18.20B | $9.56B | $4.95B | $6.91B | $2.68B | $4.55B | $2.33B | $2.71B | $1.77B | $2.47B | $3.06B | $2.31B |
| Net income | $62.65B | $30.25B | $21.19B | $21.19B | $18.16B | $17.13B | $20.00B | $15.33B | $13.48B | $10.43B | $10.62B | $9.88B |
| EBITDA | $102.16B | $59.58B | $46.76B | $45.50B | $36.60B | $36.48B | $38.55B | $32.08B | $26.81B | $26.99B | $27.03B | $23.32B |
| EPS (diluted) | $1.88 | $2.78 | $1.95 | $1.95 | $1.68 | $1.59 | $1.86 | $1.43 | $1.26 | $0.98 | $1.00 | $0.94 |
| Gross margin | 52.3% | 51.8% | 48.5% | 50.8% | 51.8% | 50.6% | 47.3% | 49.0% | 50.1% | 49.3% | 45.5% | 47.6% |
| Operating margin | 13.7% | 13.1% | 11.7% | 9.7% | 11.4% | 11.8% | 11.3% | 11.0% | 10.0% | 10.7% | 7.8% | 7.8% |
| Net margin | 31.2% | 16.7% | 9.9% | 11.8% | 10.8% | 11.0% | 10.7% | 9.6% | 9.1% | 7.3% | 6.3% | 6.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AMZN's financial statements (latest annual report filed February 6, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AMZN financial results
In fiscal year 2025 (ended December 31, 2025), Amazon reported revenue of $716.9 billion, up 12.4% from the year before. It had net income of $77.7 billion (up 31.1%), a net profit margin of 10.8%. Diluted earnings per share came to $7.17. Over five years revenue grew at an average rate of 13.2% a year.
See the AMZN stock overview for the latest quote and news, or the AMZN chart for price history and technical indicators.
AMZN income statement FAQ
What is Amazon's annual revenue?
Amazon reported total revenue of $716.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.4% from $638.0 billion the previous year.
Is Amazon profitable?
Yes. Amazon reported net income of $77.7 billion in fiscal 2025, a net profit margin of 10.8%; its operating margin was 11.2%.
What is Amazon's gross margin?
Amazon's gross margin was 50.3% in fiscal 2025: for every $100 of revenue, Amazon kept $50 after the direct cost of its products and services.
How much does Amazon spend on research and development?
Amazon spent $108.5 billion on research and development in fiscal 2025, 15.1% of revenue.
How fast is Amazon growing?
Revenue grew 13.2% a year on average over the last five fiscal years, from $386.1 billion to $716.9 billion.
What are Amazon's earnings per share?
Amazon earned $7.17 per diluted share in fiscal 2025, compared with $5.53 a year earlier.
When will Amazon report its next earnings?
Amazon is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does Amazon's fiscal year end?
Amazon's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 6, 2026.