Amazon's sales rose 9% to $155.67 billion in the quarter to Mar 31, 2025, with operating income at $18.41 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Amazon reported net sales of $155.67 billion for the quarter ended Mar 31, 2025, up 8.6% from $143.31 billion a year earlier, in a Form 10-Q, the quarterly report a US-listed company files with the US Securities and Exchange Commission, filed May 2, 2025. Operating income, the profit from running the business before interest and tax, was $18.41 billion, up 20.2% from $15.31 billion. Net income was $17.13 billion, up 64.2% from $10.43 billion, or $1.59 per diluted share against $0.98.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13

Below operating income, other income (expense), net was a net gain of $2.7 billion in the quarter, against a net loss of $2.7 billion a year earlier. The 10-Q's notes said that part of Amazon's convertible notes from Anthropic, PBC was converted into nonvoting preferred stock in the quarter, that a significant portion of the notes' unrealized gain at Dec 31, 2024 was reclassified, and that a gain of approximately $3.3 billion was recorded in that line. The notes put the estimated fair value of the convertible notes and the amounts recorded for the preferred stock together at approximately $13.8 billion on Mar 31, 2025, and the discussion said the quarter's net gain was partly offset by a loss on Amazon's Rivian equity investment.14^,15^,16^,17^,18^,4

AWS, the segment that sells compute, storage, database and other services, had sales of $29.27 billion, up 16.9%, and segment operating income of $11.5 billion against $9.4 billion in the first quarter of 2024. The 10-Q said the sales growth primarily reflected increased customer usage, partially offset by pricing changes. North America sales were $92.89 billion, up 7.6%, and International sales were $33.51 billion, up 4.9%. Advertising services sales were $13.92 billion, up 17.7%. Online stores sales were $57.41 billion, up 5.0%, and the filing said that line included media products such as books, videos, games, music and software.19^,20^,21^,22^,23^,24^,25^,26^,27^,28^,29^,30^,31^,32

In its earnings release of May 1, 2025, Amazon said free cash flow decreased to $25.9 billion for the trailing twelve months, against $50.1 billion for the trailing twelve months ended Mar 31, 2024. Amazon defined free cash flow, a non-GAAP measure, as cash flow from operations reduced by purchases of property and equipment, net of proceeds from sales and incentives.33^,34^,35^,36

Our records hold the quarter's revenue, operating income, net income and diluted earnings per share, and the text of the filing's management discussion and its 8 numbered notes, but not its other exhibits. They keep one value for each period of an SEC filer, the latest filed, so they cannot tell whether the year-earlier figures were restated.37^,38^,39