AMZN · 10-Q · 2026Q1 · Full report
Other Income — Equity Valuation Gains
AMAZON COM INC · 2026-04-30 · Importance 78 · Surprise 100 · Matches filing data
Other income (expense), net was $15,575 million in Q1 2026 compared to $2,687 million in Q1 2025, reflecting a $12.9 billion increase primarily driven by valuation adjustments of equity securities. The company attributes the $15.6 billion net gain in Q1 2026 primarily to an upward observable-price adjustment related to its nonvoting preferred stock in Anthropic and reclassification gains from available-for-sale debt securities converted into nonvoting preferred stock. The Q1 2025 net gain of $2.7 billion was primarily from a reclassification adjustment for gains on available-for-sale debt securities tied to the conversion of convertible notes investments in Anthropic. These valuation-driven gains materially increased net income and drove a large portion of the quarter’s non-operating income.
Key facts
- Other income (expense), net was a net gain of $2.7 billion during Q1 2025 and $15.6 billion during Q1 2026. source
- The $15.6 billion net gain in Q1 2026 was primarily from an upward adjustment for observable changes in price relating to Amazon’s nonvoting preferred stock in Anthropic and reclassification adjustments for gains on available-for-sale debt securities from converted portions of convertible notes investments in Anthropic during Q1 2026. source
- Interest income was $1.1 billion during Q1 2025 and Q1 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +8.6% | The $15.6 billion net gain in Q1 2026 was primarily from an upward adjustment for observable changes in price relating to Amazon’s… |
| net_income | positive | realized | +7.1% | Other income (expense), net was a net gain of $2.7 billion during Q1 2025 and $15.6 billion during Q1 2026. |