Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Amazon.com Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Revenue growth exhibits a consistent upward trajectory with pronounced seasonal peaks occurring every December. Total net sales increased from 108,518 million USD in March 2021 to 200,606 million USD by June 2026. This expansion is driven by growth in both product and service segments, though the composition of total revenue has shifted significantly toward services over the analyzed period.
- Revenue Composition and Mix
- A structural shift in revenue generation is observed, as net service sales have grown at a faster rate than net product sales. By June 2026, net service sales reached 123,004 million USD, compared to 77,602 million USD in net product sales. This indicates an increasing reliance on service-based revenue streams relative to traditional product retail.
- Gross Profitability and Margin Trends
- Gross profit has expanded steadily, rising from 46,115 million USD in March 2021 to 104,828 million USD in June 2026. While the cost of sales has increased in absolute terms, the growth in gross profit suggests an improvement in the overall margin profile or a more favorable mix of higher-margin service revenue.
- Operating Expense Analysis
- Operating expenses show varied growth patterns. Technology and infrastructure costs have nearly tripled, increasing from 12,488 million USD in March 2021 to 33,158 million USD in June 2026, reflecting significant investment in capacity. Fulfillment costs have grown more modestly, moving from 16,530 million USD to 29,633 million USD over the same period. General and administrative expenses remained relatively stable, demonstrating effective cost control in corporate overhead.
- Operating Income Performance
- Operating income experienced a period of volatility between 2021 and 2022, reaching a low of 2,525 million USD in September 2022. However, a strong recovery and acceleration followed, with operating income climbing to 27,461 million USD by June 2026. This recovery suggests successful operational efficiencies and the scaling of high-margin business units.
- Net Income and Non-Operating Impact
- Net income shows extreme growth, particularly in the final period, ending at 62,647 million USD in June 2026. This surge is heavily influenced by non-operating items, specifically a substantial increase in other income (expense), net, which reached 53,415 million USD in the final quarter. Excluding these non-operating spikes, the baseline net income still shows a healthy upward trend from the 2021 levels.