AMZN Q1 2025 Earnings

Call Details

• Call Title: Amazon.com, Inc. Q1 2025 Earnings Call
• Date: May 1, 2025 at 9:00 PM UTC
• Management Team:
  • Dave Fildes (Director of Investor Relations)
  • Andy Jassy (CEO)
  • Brian Olsavsky (Chief Financial Officer)

Call Summary

Financial Performance

• Worldwide revenue was $155.7B in Q1 2025, up 10% year-over-year excluding foreign exchange impacts.
• Worldwide operating income was $18.4B in the quarter, which was approximately $400M above the high end of guidance.
• Trailing 12-month free cash flow was $25.9B at the end of Q1 2025.
• Net income for Q1 2025 was $17.1B and included a pre-tax non-operating gain of $3.3B related to Anthropic convertible note conversion.
• Worldwide paid units grew 8% year-over-year in the quarter.
• North America revenue was $92.9B in Q1 2025, up 8% year-over-year.
• International revenue was $33.5B in Q1 2025, up 8% year-over-year excluding foreign exchange.
• AWS revenue was $29.3B in Q1 2025, up 17% year-over-year and representing an annualized run rate of about $117B.

Guidance

• Q2 2025 net sales are expected to be between $159B and $164B.
• Q2 2025 operating income is expected to be between $13B and $17.5B.
• The company expects an approximate 10 basis point headwind from foreign exchange in Q2 2025 based on current rates.
• The Q2 operating income range incorporates a seasonal step-up in stock-based compensation expense tied to the annual compensation cycle.
• Management stated the guidance range accounts for current order trends and macro scenarios but emphasized continued external uncertainty.
• The company increased the width of guidance ranges to reflect macro and consumer demand uncertainty.