Amazon.com, Inc. (AMZN) Q1 2026 Financial Results Summary

SEATTLE—(BUSINESS WIRE) April 29, 2026—Amazon.com, Inc. (NASDAQ: AMZN) announced its financial results for the first quarter ended March 31, 2026.

Key Financial Metrics

• Net Sales
  • Increased 17% to $181.5 billion compared to $155.7 billion in Q1 2025.
  • Excluding a $2.9 billion favorable impact from foreign exchange, net sales increased 15%.
• Segment Performance
  • North America Segment:
    • Sales up 12% to $104.1 billion.
  • International Segment:
    • Sales up 19% to $39.8 billion.
    • Excluding foreign exchange adjustments, increased by 11%.
  • AWS Segment:
    • Sales surged 28% to $37.6 billion.
• Operating Income
  • Increased 29% to $23.9 billion, up from $18.4 billion in Q1 2025.
  • North America: Operating income rose to $8.3 billion, up from $5.8 billion.
  • International: Operating income grew to $1.4 billion, up from $1.0 billion.
  • AWS: Operating income increased to $14.2 billion, up from $11.5 billion.
• Net Income
  • Increased 77% to $30.3 billion, or $2.78 per diluted share, compared to $17.1 billion, or $1.59 per diluted share, in Q1 2025.
  • Includes pre-tax gains of $16.8 billion from investments in Anthropic.
• Operating Cash Flow
  • Increased 30% to $148.5 billion for the trailing twelve months, compared to $113.9 billion for the prior year.
• Free Cash Flow
  • Decreased to $1.2 billion for the trailing twelve months.
  • Notable increase in property and equipment purchases by $59.3 billion, primarily for artificial intelligence investments.

Expansion and Innovations

Achievements in operational efficiencies included improving same-day and overnight delivery options, with over 1 billion items delivered within the same timeframe. Major milestones in new technology integrations including partnerships with OpenAI and Delta Airlines for AI chip deployment and enhanced service capabilities.

Shareholder Returns

The company did not declare a quarterly dividend during this reporting period. There was no mention of share repurchase initiatives.

Future Guidance for Q2 2026

Expected net sales between $194.0 billion and $199.0 billion, indicating growth of 16% to 19% compared to Q2 2025. Anticipated operating income between $20.0 billion and $24.0 billion, compared with $19.2 billion in Q2 2025.

Summary

Amazon's Q1 2026 results demonstrate strong year-over-year growth across its segments, marked by significant increases in both sales and income, bolstered by strategic investments and partnerships. The company's initiatives in enhancing customer service delivery and expanding its technology services have laid a solid foundation for future growth.

Note: All amounts in the following tables are in millions.

Consolidated Statements of Operations

	2025	2026
Net product sales	$ 63,970	$ 71,304
Net service sales	$ 91,697	$ 110,215
Total net sales	$ 155,667	$ 181,519
Operating expenses:
Cost of sales	$ 76,976	$ 87,463
Fulfillment	$ 24,593	$ 27,289
Technology and infrastructure	$ 22,994	$ 29,567
Sales and marketing	$ 9,763	$ 10,314
General and administrative	$ 2,628	$ 2,587
Other operating expense (income), net	$ 308	$ 447
Total operating expenses	$ 137,262	$ 157,667
Operating income	$ 18,405	$ 23,852
Interest income	$ 1,066	$ 1,135
Interest expense	$ -541	$ -800
Other income (expense), net	$ 2,749	$ 15,647
Total non-operating income	$ 3,274	$ 15,982
Income before income taxes	$ 21,679	$ 39,834
Provision for income taxes	$ -4,553	$ -9,560
Equity-method investment activity, net of tax	$ 1	$ -19
Net income	$ 17,127	$ 30,255
Basic earnings per share	$ 1.62	$ 2.82
Diluted earnings per share	$ 1.59	$ 2.78
Weighted-average shares used in computation of earnings per share:
Basic	10,603	10,743
Diluted	10,793	10,874

Consolidated Balance Sheets

	December 31, 2025	March 31, 2026
ASSETS
Current assets:
Cash and cash equivalents	$ 86,810	$ 101,816
Marketable securities	$ 36,219	$ 41,273
Inventories	$ 38,325	$ 36,534
Accounts receivable, net and other	$ 67,729	$ 75,532
Total current assets	$ 229,083	$ 255,155
Property and equipment, net	$ 357,025	$ 397,458
Operating leases	$ 86,054	$ 88,741
Goodwill	$ 23,273	$ 23,449
Other assets	$ 122,607	$ 151,827
Total assets	$ 818,042	$ 916,630
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$ 121,909	$ 124,749
Accrued expenses and other	$ 75,520	$ 71,120
Unearned revenue	$ 20,576	$ 20,887
Total current liabilities	$ 218,005	$ 216,756
Long-term lease liabilities	$ 87,339	$ 90,814
Long-term debt	$ 65,648	$ 119,074
Other long-term liabilities	$ 35,985	$ 48,072
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding)	—	—
Common stock ($0.01 par value; 100,000 shares authorized; 11,246 and 11,269 shares issued; 10,731 and 10,754 shares outstanding)	$ 112	$ 113
Treasury stock, at cost	$ -7,837	$ -7,837
Additional paid-in capital	$ 140,024	$ 143,979
Accumulated other comprehensive income (loss)	$ 28,230	$ 24,868
Retained earnings	$ 250,536	$ 280,791
Total stockholders’ equity	$ 411,065	$ 441,914
Total liabilities and stockholders’ equity	$ 818,042	$ 916,630

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