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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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) 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: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Sales and Components
- Net sales show a generally upward trend from March 2020 through the projected periods ending in June 2025. Both net product sales and net service sales contribute to this growth. Net product sales display some fluctuations but maintain an overall increase, particularly notable jumps at year-end quarters. Net service sales demonstrate a steadier and more consistent rise over time, with significant growth in later periods, reflecting an increasing contribution to total net sales.
- Cost of Sales and Gross Profit
- The cost of sales rises in line with net sales but shows some volatility. Gross profit mirrors the trend in net sales and costs, improving over the given timeline. The gross profit margin appears to be expanding gradually, supported by consistent growth in gross profit, especially in later quarters, which indicates efficient management of production and service costs relative to sales growth.
- Operating Expenses
- Operating expenses, including fulfillment, technology and infrastructure, sales and marketing, and general and administrative costs, all increase over time, reflecting the expansion of business activities. Fulfillment and technology/infrastructure expenses represent the largest portions and demonstrate a consistent upward trend in absolute terms, aligning with scaling operations. Sales and marketing and general administrative expenses also increase but show some fluctuation, possibly due to changing strategic priorities or operational efficiencies.
- Operating Income
- Operating income generally rises throughout the analyzed periods, with a notable dip in the quarters ending in late 2020 and early 2021. However, growth resumes and strengthens significantly from mid-2021 onward, reaching the highest values in projected periods, consistent with expanding sales and controlled operating expenses.
- Interest and Other Income (Expense)
- Interest income shows incremental growth through the periods while interest expense slightly fluctuates but remains relatively stable. Other income (expense), including non-operating income (expense), is highly volatile, with significant positive and negative swings that strongly impact income before taxes in certain quarters. Some projected periods show substantial gains in this category, suggesting variability in non-core business activities or one-time items.
- Income Before Taxes and Provision for Income Taxes
- Income before income taxes reflects the overall operating and non-operating profitability, exhibiting considerable volatility but an upward trend towards the later periods. Income tax provisions fluctuate significantly, occasionally reversing (benefits) in certain quarters, which may indicate tax credits, adjustments, or variances in tax planning strategies.
- Net Income
- Net income trends upward, mirroring the broad increase in operating and non-operating performance despite interim negative results in early 2022. The reestablishment and growth of net income in subsequent quarters highlight improved profitability and effective cost and income management. The projected net income figures continue this positive trajectory, suggesting optimistic future earnings performance.
- General Observations
- The data suggest ongoing expansion and scaling of operations marked by increasing sales revenue and higher associated costs. The company appears to be managing cost structures effectively given the rising gross profits and operating income. Fluctuations in non-operating income and tax provisions create variability in net income but do not detract from the overall positive earnings trend. The projections indicate sustained growth and improved profitability going forward.