Amazon's Q2 2025 results show strong revenue growth and significant improvements in operating income, driven by record Prime Day performance and expansion in AWS and advertising. However, challenges remain in AWS margin declines and ongoing supply constraints. Despite these issues, the company's strategic advancements and robust growth in key areas contribute to a positive outlook.

Company Guidance -

Q3 2025

In the Amazon.com Second Quarter 2025 Financial Results call, Amazon reported a 12% year-over-year increase in revenue, reaching $167.7 billion, excluding foreign exchange impacts. The operating income rose 31% year-over-year to $19.2 billion, while the trailing 12-month free cash flow was $18.2 billion. The company highlighted progress in various sectors; notably, their stores business saw revenue growth, influenced by increased selection and improved delivery speeds. Amazon's Prime Day was its biggest yet, contributing to these results. Additionally, Amazon Ads generated $15.7 billion in revenue, growing 22% year-over-year, and AWS achieved a 17.5% year-over-year growth with a $123 billion annualized revenue run rate. The guidance for Q3 2025 anticipates net sales between $174 billion and $179.5 billion, with a favorable foreign exchange impact expected. The call emphasized Amazon's strategic focus on cost-effective innovation, enhanced customer experiences, and the continued expansion of their AI and cloud services.

Strong Revenue Growth

Amazon reported $167.7 billion in revenue for Q2 2025, representing a 12% year-over-year increase, excluding foreign exchange impacts.

Significant Increase in Operating Income

Operating income reached $19.2 billion, up 31% year-over-year.

Record Prime Day Performance

Prime Day was the biggest ever, with record sales, items sold, and Prime sign-ups. Independent sellers saw their best sales performance yet.

AWS Revenue Growth

AWS achieved a revenue of $30.9 billion, marking a 17.5% year-over-year increase.

Advertising Revenue Growth

Amazon's advertising revenue grew by 22% year-over-year, reaching $15.7 billion.

Advancements in Robotics and AI

Amazon deployed its 1 millionth robot and introduced AI innovations like DeepFleet, improving efficiency by 10%.

Expansion of Same-Day and Next-Day Delivery

Amazon plans to expand its same-day and next-day delivery to more than 4,000 U.S. cities by the end of the year.

International Segment Profitability

International segment operating income was $1.5 billion, up $1.2 billion year-over-year, with operating margin up 320 basis points to 4.1%.

Amazon (AMZN) Earnings, Revenues Date & History

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AMZN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	1.55 / -	1.43	―	―	―
Jul 31, 2025	2025 (Q2)	1.33 / 1.68	1.26	33.33% (+0.42)
May 01, 2025	2025 (Q1)	1.37 / 1.59	0.98	62.24% (+0.61)
Feb 06, 2025	2024 (Q4)	1.49 / 1.86	1	86.00% (+0.86)
Oct 31, 2024	2024 (Q3)	1.14 / 1.43	0.94	52.13% (+0.49)
Aug 01, 2024	2024 (Q2)	1.03 / 1.26	0.65	93.85% (+0.61)
Apr 30, 2024	2024 (Q1)	0.84 / 0.98	0.31	216.13% (+0.67)
Feb 01, 2024	2023 (Q4)	0.80 / 1.00	0.03	3233.33% (+0.97)
Oct 26, 2023	2023 (Q3)	0.58 / 0.94	0.28	235.71% (+0.66)
Aug 03, 2023	2023 (Q2)	0.35 / 0.65	-0.2	425.00% (+0.85)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AMZN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$234.11	$214.75	-8.27%
May 01, 2025	$190.20	$189.98	-0.12%
Feb 06, 2025	$238.83	$229.15	-4.05%
Oct 31, 2024	$186.40	$197.93	+6.19%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.