AMZN · 10-Q · 2026Q1

AMAZON COM INC

Filed 2026-04-30 · Consumer · View original filing on EDGAR

Ranked Events

• M&A / Strategic Investment (OpenAI)Importance 96 · Surprise 100
  In Q1 2026, Amazon invested $15.0 billion in OpenAI’s Series C Preferred Stock and entered into an equity commitment letter to purchase an additional $35.0 billion of OpenAI’s Series C Preferred Stock, subject to…
• Technology & Infrastructure Capex IncreaseImportance 89 · Surprise 82
  Cash capital expenditures rose to $43.2 billion in Q1 2026 from $24.3 billion in Q1 2025, an increase largely driven by investments in technology infrastructure (the majority to support AWS growth) and additional…
• Manufacturing and Capacity Investment (CapEx)Importance 89 · Surprise 82
  Cash capital expenditures increased from $24.3 billion in Q1 2025 to $43.2 billion in Q1 2026, reflecting major investments in technology infrastructure (the majority to support AWS) and additional capacity to support…
• Operating Cash Flow and Free Cash FlowImportance 89 · Surprise 82
  Net cash provided by operating activities was $26,032 million for Q1 2026 versus $17,015 million for Q1 2025, and trailing twelve months net cash provided by operating activities increased to $148,531 million from…
• Income Tax Provision ImpactImportance 84 · Surprise 100
  Income tax provision rose to $9.6 billion for the three months ended March 31, 2026 from $4.6 billion in the comparable prior year quarter. The Q1 2026 provision included $4.1 billion of net discrete tax expense…
• Outstanding IndebtednessImportance 83 · Surprise 82
  Cash provided by financing activities was $52.8 billion in Q1 2026, driven by proceeds from short-term and long-term debt of $59.5 billion in Q1 2026 (compared with $2.6 billion in Q1 2025). Cash outflows for debt and…
• Technology and Infrastructure SpendImportance 79 · Surprise 66
  Technology and infrastructure costs increased to $29,567 million in Q1 2026 from $22,994 million in Q1 2025, an increase of $6,573 million year-over-year driven by higher infrastructure spending and depreciation. These…
• Other Income — Equity Valuation GainsImportance 78 · Surprise 100
  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…
• Major Strategic InvestmentsImportance 71 · Surprise 60
  In Q1 2026 Amazon invested $15.0 billion in OpenAI’s Series C Preferred Stock and entered into an equity commitment letter to purchase an additional $35.0 billion of OpenAI Series C Preferred Stock subject to…
• Interest Expense and Debt ActivityImportance 66 · Surprise 74
  Interest expense increased to $800 million in Q1 2026 from $541 million in Q1 2025, driven primarily by debt and finance leases. Cash inflows from financing activities in Q1 2026 included proceeds from short-term and…
• Operating Cash Flow / Free Cash Flow TrendsImportance 65 · Surprise 82
  Amazon emphasizes long-term focus on free cash flow and reconciles it to GAAP: free cash flow (trailing twelve months ended March 31, 2026) declined to $1,232 million from $25,925 million in the prior twelve-month…
• Operating Income TrendsImportance 64 · Surprise 56
  Consolidated operating income increased from $18,405 million in Q1 2025 to $23,852 million in Q1 2026, an increase of $5,447 million year-over-year. North America operating income rose to $8,267 million in Q1 2026,…
• Guidance / OutlookImportance 63 · Surprise 22
  For Q2 2026 Amazon provided consolidated guidance of net sales between $194.0 billion and $199.0 billion (growth of 16%–19% vs Q2 2025) and operating income between $20.0 billion and $24.0 billion. The guidance assumes…
• Shipping and Fulfillment CostsImportance 60 · Surprise 40
  Shipping costs rose from $22.5 billion in Q1 2025 to $25.7 billion in Q1 2026, reflecting higher product volumes and greater use of the company's shipping offers. Fulfillment costs increased due to higher sales and…
• Fulfillment Cost TrendsImportance 60 · Surprise 40
  Fulfillment expense rose to $27,289 million in Q1 2026 from $24,593 million in Q1 2025, an increase primarily due to higher sales and investments in the fulfillment network, partially offset by operational…
• Market Demand TrendsImportance 59 · Surprise 48
  Consolidated net sales increased 17% year-over-year in Q1 2026 to $181.5 billion, driven by increased unit sales, advertising, and subscription services. North America sales grew 12% while International grew 19% and…
• Income Taxes and Discrete ItemsImportance 58 · Surprise 42
  Amazon recorded an income tax provision of $9.6 billion for the three months ended March 31, 2026, which included $4.1 billion of net discrete tax expense primarily attributable to net gains from its investments in…
• Revenue Performance and MixImportance 54 · Surprise 40
  Consolidated net sales were $181,519 million in Q1 2026, up 17% year-over-year from $155,667 million in Q1 2025, with foreign exchange rates increasing net sales by $2.9 billion for Q1 2026. North America net sales…
• Liquidity and Cash PositionImportance 53 · Surprise 22
  Amazon’s principal liquidity sources are operating cash flows and cash, cash equivalents, and marketable securities, which at fair value were $123.0 billion as of Dec 31, 2025 and $143.1 billion as of Mar 31, 2026. The…
• Other Operating Expense (Income)Importance 48 · Surprise 74
  Other operating expense (income), net increased from $308 million in Q1 2025 to $447 million in Q1 2026, a >10% year-over-year change. The increase was primarily related to charges associated with damaged data centers…

Revenue by Product (in millions)

Revenue by Geography (in millions)