Q2 25 EPS
$1.68
BEAT +26.32%
Est. $1.33
Q2 25 Revenue
$167.70B
vs S&P Since Q2 25
+6.8%
BEATING MARKET
AMZN +22.7% vs S&P +15.9%
Market Reaction
Did AMZN Beat Earnings? Q2 2025 Results
Amazon posted a blowout second quarter, reporting earnings of $1.68 per diluted share against a consensus estimate of $1.33, a beat of 26.32%, as revenue climbed 13.3% year-over-year to $167.70 billion. The standout driver was broad-based operating l… Read more Amazon posted a blowout second quarter, reporting earnings of $1.68 per diluted share against a consensus estimate of $1.33, a beat of 26.32%, as revenue climbed 13.3% year-over-year to $167.70 billion. The standout driver was broad-based operating leverage across all three segments, with North America operating income surging 48% to $7.52 billion and the International segment swinging to $1.49 billion in operating profit from just $273 million a year ago. AWS, meanwhile, contributed $10.16 billion in operating income on $30.87 billion in revenue, up 17% year-over-year, even as elevated infrastructure spending tied to AI and cloud capacity compressed segment margins. Advertising services was another bright spot, growing 23% to $15.69 billion, reinforcing Amazon's position as a scaled digital ad platform. Analysts tracking the stock have pointed to the company's AI investment cycle as a key long-term catalyst. Looking ahead, Amazon guided Q3 2025 net sales of $174.00 billion to $179.50 billion and operating income of $15.50 billion to $20.50 billion, though the wide range reflects lingering uncertainty around tariffs and consumer spending.
Key Takeaways
- • 13% consolidated net sales growth driven by strength across all three segments
- • AWS revenue grew 17% year-over-year to $30.9 billion
- • Advertising services revenue surged 23% to $15.7 billion
- • International segment operating income improved from $273M to $1.5B year-over-year
- • North America operating margin expanded to 7.5% from 5.6%
- • Worldwide paid units grew 12% year-over-year
- • Favorable foreign exchange impact of approximately $1.5 billion on net sales
AMZN YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
AMZN Revenue by Segment
With YoY comparisons, source: SEC Filings
AMZN Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our conviction that AI will change every customer experience is starting to play out as we've expanded Alexa+ to millions of customers, continue to see our shopping agent used by many millions of customers, launched AI models like DeepFleet that optimize productivity paths for our 1M+ robots, made it much easier for software developers to write code with Kiro (our new agentic IDE), launched Strands to make it easier to build AI agents, and released Bedrock AgentCore to enable agents to be operated securely and scalably.”
— Andy Jassy, Q2 2025 Earnings Press Release
AMZN Earnings Trends
AMZN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMZN EPS Trend
Earnings per share: estimate vs actual
AMZN Revenue Trend
Quarterly revenue: estimate vs actual
AMZN Quarterly Results
11 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.73 | $2.78 | +60.69% | $181.52B | — |
| Q4 25 BEAT FY | $1.95 | $1.95 | +0.00% | $213.39B | — |
| FY Full Year | — | $7.17 | — | $716.92B | — |
| Q3 25 BEAT | $1.54 | $1.95 | +26.62% | $180.17B | — |
| Q2 25 BEAT | $1.33 | $1.68 | +26.32% | $167.70B | — |
| Q1 25 BEAT | $1.36 | $1.59 | +16.91% | $155.67B | — |
| Q4 24 BEAT FY | $1.48 | $1.86 | +25.36% | $187.79B | — |
| FY Full Year | — | $5.53 | — | $637.96B | — |
| Q3 24 BEAT | $1.14 | $1.43 | +25.44% | $158.88B | — |
| Q2 24 BEAT | $1.03 | $1.26 | +22.33% | $147.98B | -0.39% |
| Q1 24 BEAT | $0.83 | $0.98 | +18.07% | $143.31B | +0.57% |
| Q4 23 BEAT FY | $0.80 | $1.00 | +25.00% | $169.96B | +2.25% |
| FY Full Year | — | $2.90 | — | $574.79B | — |
| Q3 23 BEAT | $0.55 | $0.94 | +70.91% | $143.08B | +7.26% |