Amazon's first-quarter net income rose to $30.26 billion, with $16.8 billion of pre-tax Anthropic gains

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 filed its 10-Q, the quarterly report US-listed companies send to the Securities and Exchange Commission, on Apr 30, 2026. Revenue was $181.52 billion, up 16.6% from $155.67 billion in the same quarter a year earlier. Operating income was $23.85 billion, up 29.6% from $18.41 billion. Net income was $30.26 billion, up 76.7% from $17.13 billion a year earlier. Diluted earnings per share were $2.78, against $1.59.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13

Other income, net, a line below operating income, was a gain of $15.6 billion in the quarter, against $2.7 billion a year earlier. Amazon said the 2026 gain was primarily from an upward adjustment for observable price changes on its nonvoting preferred stock in Anthropic and from gains on convertible notes in Anthropic that were converted into that stock. Amazon's earnings release of Apr 29 put the pre-tax gains from its Anthropic investments in the quarter at $16.8 billion, booked in non-operating income, a different measure from the $15.6 billion net gain in other income above. The income tax provision was $9.6 billion, including $4.1 billion of net discrete tax expense that Amazon attributed primarily to the net gains from its Anthropic investments. In the same quarter Amazon invested $15.0 billion in OpenAI's Series C Preferred Stock and entered into an equity commitment letter agreement to buy another $35.0 billion of the same stock, subject to certain conditions.14^,15^,16^,17^,18^,19

AWS had sales of $37.59 billion, up 28.4%, and operating income of $14.16 billion against $11.55 billion a year earlier. North America sales were $104.14 billion, up 12.1%, with operating income of $8.27 billion; International sales were $39.79 billion, up 18.7%, with operating income of $1.42 billion.20^,21^,22^,23^,24^,25^,26

Cash capital expenditures were $43.2 billion, against $24.3 billion a year earlier; Amazon said they primarily reflected technology infrastructure, the majority of it to support AWS growth, and more fulfillment capacity, and that it expected both to increase in 2026. Free cash flow, Amazon's own non-GAAP measure, cash flow from operations less purchases of property and equipment net of proceeds from sales and incentives, fell to $1.2 billion for the trailing twelve months from $25.9 billion for the twelve months ended Mar 31, 2025; the release attributed the fall primarily to a $59.3 billion rise in those purchases, which it said primarily reflected investments in artificial intelligence.27^,28^,29

Online stores, the line whose release definition includes media products such as games, had net sales of $64.25 billion, up 11.9%. Amazon Games, a publisher under Amazon, publishes Tomb Raider: Legacy of Atlantis, developed by Crystal Dynamics and Flying Wild Hog.30^,31^,32^,33^,34

On Apr 29, 2026, Amazon guided to second-quarter net sales of $194.0 billion to $199.0 billion and operating income of $20.0 billion to $24.0 billion. A later report showed revenue of $200.61 billion and operating income of $27.46 billion for the quarter ended Jun 30, 2026, both above the top of the guided ranges.17^,35^,36^,37^,38

Our records hold the text of the 10-Q's management discussion, not its notes or exhibits, and they keep one value for each period, the latest filed, so they cannot tell whether the year-earlier figures were restated.39^,40