Amazon reported net sales of $200.6 billion in the second quarter, compared with $167.7 billion in the second quarter of 2025. Amazon’s own filings put full-year 2025 net sales at $716.9 billion, a workforce of approximately 1,576,000 full-time and part-time employees at year-end, and Amazon Web Services at $128.7 billion of annual revenue. Those Amazon statistics frame everything below.
The numbers below come from three filings with the U.S. Securities and Exchange Commission and one federal statistical release: the Q2 2026 earnings release, the 2025 annual report on Form 10-K, the Q2 2026 quarterly report on Form 10-Q, and the Census Bureau’s quarterly e-commerce estimate. Where Amazon does not publish a figure, the gap is stated rather than filled with an estimate.
Key Takeaways
- Amazon’s quarterly net sales reached $200.6 billion, compared with $167.7 billion in the second quarter of 2025.
- AWS carried $16.6 billion of segment operating income against a total of $27.5 billion.
- Advertising services grew 26% year over year to $19.81 billion in the June quarter.
- Amazon employed approximately 1,576,000 full-time and part-time employees as of December 31, 2025, excluding contractors and temporary personnel.
- Purchases of property and equipment reached $128.32 billion in 2025 against $77.66 billion in 2024, which compressed free cash flow even as profit rose.
- Third-party sellers accounted for 61% of worldwide paid units in the June quarter, a share that has moved within a narrow band for six quarters.
Editor’s Choice
- Full-year 2025 net sales: $716.92 billion, against $637.96 billion in 2024.
- Q2 2026 operating income: $27.5 billion, compared with $19.2 billion in the second quarter of 2025.
- Q2 2026 net income: $62.6 billion, or $5.75 per diluted share.
- AWS annual revenue: $128.73 billion in 2025, up from $107.56 billion in 2024.
- US net sales in 2025: $489.66 billion of a consolidated $716.92 billion.
- Trailing-twelve-month operating cash flow: up 33% to $161.4 billion.
Amazon Revenue: Quarterly and Annual Net Sales
- Amazon’s June-quarter net sales were $200.61 billion, against $167.70 billion a year earlier.
- Across the first half of 2026, the company recorded $382.13 billion of net sales, compared with $323.37 billion in the same period of 2025.
- Service revenue is now the larger half of the business, at $123.00 billion against product sales of $77.60 billion in the June quarter.
- Currency was close to neutral: excluding the $0.1 billion favorable impact from year-over-year changes in foreign exchange rates, net sales increased 20%.
- Annual net sales grew in each of the last three reported years, from $574.79 billion in 2023 to $716.92 billion in 2025.
- Full-year 2025 operating expenses came to $636.95 billion, leaving operating income of $79.98 billion.
| Period | Net sales ($ millions) | Operating income ($ millions) | Net income ($ millions) |
|---|---|---|---|
| FY2023 | 574,785 | 36,852 | 30,425 |
| FY2024 | 637,959 | 68,593 | 59,248 |
| FY2025 | 716,924 | 79,975 | 77,670 |
| Q2 2025 | 167,702 | 19,171 | 18,164 |
| Q2 2026 | 200,606 | 27,461 | 62,647 |
Source: Amazon 2025 Form 10-K and Q2 2026 Form 10-Q, filed with the SEC, 2026
Annual totals are the durable measure here. Quarterly net income moved for a reason unrelated to retail, unpacked further down.
Amazon Daily Revenue and Revenue Per Second
- The June quarter spans 91 days, which puts Amazon’s average net sales at about $2.20 billion a day.
- On the same basis, the company took in roughly $91.85 million an hour.
- Per second, that works out to about $25,514.
- Across the 181 days of the first half of 2026, average daily net sales were about $2,111 million.
- The same calculation for the first half of 2025 gives about $1,787 million a day, which is the honest measure of how far the cadence moved in a year.
By the numbers: Amazon’s June-quarter net sales of $200.6 billion spread across 91 days work out to about $2.20 billion a day and roughly $25,514 a second. The first-half 2026 daily average of about $2,111 million sits well above the $1,787 million of the same stretch in 2025.
Recent Developments
- July 2026: Amazon reported second-quarter net sales of $200.6 billion and operating income of $27.5 billion.
- July 2026: AWS grew 36.7% year-over-year in Q2, which chief executive Andy Jassy called its fastest growth in 18 quarters.
- July 2026: Amazon said its AI business and its chips business each eclipsed run rates of more than $25 billion, growing triple-digit percentages year-over-year.
- July 2026: Amazon recorded upward adjustments relating to equity investments in private companies of $50.5 billion in the quarter, primarily from its nonvoting preferred stock in Anthropic.
- February 2026: The 2025 Form 10-K reported full-year net sales of $716.92 billion and net income of $77.67 billion.
- August 2026: The Census Bureau put US retail e-commerce sales at $340.2 billion for the second quarter of 2026, adjusted for seasonal variation.
Amazon Revenue by Segment: North America, International, and AWS
- North America segment sales rose 16% year-over-year to $116.2 billion.
- International segment sales rose 15% year-over-year to $42.2 billion.
- AWS segment sales rose 37% year-over-year to $42.2 billion, matching the International segment total.
- On the full-year view, the three segments split $426.31 billion, $161.89 billion, and $128.73 billion in 2025.
- Amazon’s own reported net sales mix put North America at 59% of the 2025 consolidated total.
- Growth diverged across the retail segments: International sales increased 13% in 2025, while changes in foreign exchange rates reduced North America net sales by $454 million in 2025.
- Currency moved the totals only slightly: changes in foreign exchange rates increased net sales by $4.4 billion in 2025.
Sales and profit sit in different places inside Amazon. The margin column below is where that shows up.
| Segment | Q2 2026 operating income ($ millions) | Q2 2026 operating margin (%) |
|---|---|---|
| North America | 9,123 | 7.9 |
| International | 1,717 | 4.1 |
| AWS | 16,621 | 39.4 |
Source: Amazon Q2 2026 earnings release, July 2026
What is Amazon’s biggest source of profit?
AWS is. The cloud segment posted operating income of $16.6 billion, compared with $10.2 billion in the second quarter of 2025, while North America segment operating income was $9.1 billion and International segment operating income was $1.7 billion. AWS therefore supplied about 60.4% of the quarter’s operating income from roughly 21.0% of net sales.
Amazon Revenue by Category
- Online stores generated $269.29 billion of net sales in 2025.
- Third-party seller services followed at $172.16 billion, up from $156.15 billion in 2024.
- Advertising services reached $68.64 billion, against $56.21 billion the year before.
- Subscription services, the line carrying Prime membership fees, came to $49.62 billion.
- Physical stores contributed $22.56 billion, with a residual “other” line at $5.94 billion.
- Amazon defines third-party seller services as commissions and any related fulfillment and shipping fees, and other third-party seller services, so the figure is not comparable to gross merchandise value.
Those seven lines are the closest Amazon comes to publishing a business-by-business income statement. They are the right starting point for anyone benchmarking an e-commerce operation against it, because they separate first-party retail from marketplace fees rather than blending both into one revenue number.
AWS Statistics: Growth Rate, Run Rate and Operating Margin
- AWS quarterly net sales climbed from $29.27 billion in Q1 2025 to $42.23 billion in Q2 2026.
- On a trailing-twelve-month basis, AWS reached $148.40 billion, up 28%.
- Segment operating income rose to $16.62 billion, a 64% increase.
- The operating margin reached 39.4% of AWS net sales in the June quarter.
- Jassy summarized the quarter in one line: AWS is booming, growing 36.7% year-over-year in Q2.
- Two workloads now carry their own scale: the AI business and the chips business each eclipsed run rates of more than $25 billion.
Anyone tracking the wider cloud computing market will recognize the shape of that curve, and the operational telemetry side of AWS has followed a similar path.
Amazon Advertising Revenue Statistics
- Advertising services revenue reached $19.81 billion in Q2 2026, up 26%.
- The same line was $13.92 billion in Q1 2025, so the business added meaningful scale in six quarters.
- Excluding currency effects, advertising grew 26% in the June quarter against 19% in Q1 2025.
- Advertising revenue reached $21.32 billion in the December quarter of 2025.
- Amazon counts advertising as sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
Worth noting: Amazon’s advertising line reached $68.64 billion in 2025, larger than the whole subscription-services business at $49.62 billion. Because the definition spans sponsored ads, display and video, it captures inventory sold across retail search and streaming without breaking either out separately.
Amazon Prime and Subscription Services Statistics
- Subscription services revenue was $13.73 billion in Q2 2026, up 12%.
- The line has grown steadily from $11.72 billion in Q1 2025.
- Full-year 2025 subscription revenue reached $49.62 billion, against $44.37 billion in 2024.
- Amazon includes in this line annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
- On delivery, Jassy said Amazon set record speeds for Prime members, with over 40% more items delivered same-day or overnight in the first half of the year.
| Quarter | Subscription services revenue ($ millions) | Growth excluding F/X (%) |
|---|---|---|
| Q1 2025 | 11,715 | 11 |
| Q2 2025 | 12,208 | 11 |
| Q3 2025 | 12,574 | 10 |
| Q4 2025 | 13,122 | 12 |
| Q1 2026 | 13,427 | 12 |
| Q2 2026 | 13,730 | 12 |
Source: Amazon Q2 2026 earnings release, July 2026
Amazon publishes no Prime membership count in any of the filings reviewed here. Subscription revenue is the only Prime-scale number the company actually reports, which is why every membership total circulating online is somebody’s estimate rather than a disclosure. The same caution applies to viewing figures quoted for Amazon Prime Video, which sits inside this revenue line without a separate breakout.
Amazon Employee Statistics
- Headcount reached 1,595,000 full-time and part-time employees at the end of Q2 2026, up 3% year over year.
- At the close of 2025, the figure was approximately 1,576,000 full-time and part-time employees.
- Amazon excludes contractors and temporary personnel, so the working population across Amazon sites is larger than the reported number.
- Year-over-year headcount growth stayed in a tight band, running between 1% and 3% across the six quarters through Q2 2026.
- Total stock-based compensation expense was $6.04 billion in Q2 2026, of which $3.70 billion was in technology and infrastructure.
- On training, Amazon says over 300,000 Amazon employees around the world have participated in Career Choice.
Headcount has grown far more slowly than revenue, and our Amazon workforce data tracks the same divergence across earlier years.
Third-Party Seller Statistics on Amazon
- Third-party sellers supplied 61% of worldwide paid units in Q2 2026.
- Third-party seller services revenue peaked in the December quarter at $52.82 billion.
- Third-party seller services revenue reached $46.78 billion in the June quarter, up 16%.
- Worldwide paid units grew 17% year over year in Q2 2026, against 15% in the prior quarter.
- Worldwide shipping costs rose 19% to $27.87 billion, which is the cost side of that unit growth.
| Quarter | Seller unit mix (% of paid units) | Third-party seller services ($ millions) |
|---|---|---|
| Q1 2025 | 61 | 36,512 |
| Q2 2025 | 62 | 40,348 |
| Q3 2025 | 62 | 42,486 |
| Q4 2025 | 61 | 52,816 |
| Q1 2026 | 60 | 41,578 |
| Q2 2026 | 61 | 46,780 |
Source: Amazon Q2 2026 earnings release, July 2026
Sellers should read the unit-mix row alongside conversion performance rather than in isolation, and our e-commerce conversion benchmarks supply the other half of that picture.
Amazon Capital Spending and Free Cash Flow
- Purchases of property and equipment, net of proceeds from sales and incentives, reached $128.32 billion in 2025, against $77.66 billion in 2024.
- Operating cash flow rose to $139.51 billion from $115.88 billion.
- Free cash flow consequently fell to $11.19 billion in 2025 from $38.22 billion in 2024.
- Through June 2026, the trailing-twelve-month figure turned negative: free cash flow decreased to an outflow of $7.6 billion for the trailing twelve months, driven primarily by a year-over-year increase of $66.1 billion in purchases of property and equipment.
- Investing activities used $142.55 billion of cash in 2025.
Our AI statistics cover the market-level spending picture in more depth.
Capital spending running above operating income is the clearest structural signal in Amazon’s 2025 accounts. A company can grow profit and shrink cash generation at the same time, and readers who track only the profit line will miss the trade Amazon is making.
How the Anthropic Stake Rewrote Amazon’s Profit Line
- Amazon’s June-quarter net income was $62.65 billion against operating income of $27.46 billion.
- Other income accounts for the gap: $53.42 billion of total other income (expense), net in the quarter.
- Within that, upward adjustments relating to equity investments in private companies of $50.5 billion in Q2 2026 and $62.8 billion for the six months ended June 30, 2026.
- Amazon states those adjustments reflect observable changes in prices, primarily from our nonvoting preferred stock in Anthropic.
- The company also recorded reclassification adjustments for the gains on available-for-sale debt securities of $4.5 billion for the six months ended June 30, 2026, from converted Anthropic notes.
- For full-year 2025, the equivalent line was far smaller, at $15.23 billion of other income (expense), net.
The Form 10-Q carrying this detail is labeled unaudited, as quarterly reports are. That matters for how much weight the revaluation should carry: it is a mark to observable prices in a private company, not cash Amazon collected.
Is Amazon making a profit or losing money?
Amazon is profitable on both measures, but the two diverge sharply. Operating income for the June quarter was $27.46 billion while net income reached $62.65 billion, because second quarter 2026 net income includes non-operating pre-tax other income of $53.4 billion, primarily from our investments in Anthropic. For full-year 2025, operating income was $79.98 billion and net income $77.67 billion.
Amazon Net Sales by Country
- The United States generated $489.66 billion of net sales in 2025.
- Germany followed at $45.90 billion.
- The United Kingdom recorded $43.21 billion and Japan $30.69 billion.
- Everything outside those four markets totaled $107.47 billion.
- Amazon reports net sales attributed to countries that represent a significant portion of consolidated net sales, and those country rows sum to the consolidated total, which also covers AWS, advertising, and physical stores alongside online retail.
- US net sales have grown from $395.64 billion in 2023 to $489.66 billion in 2025.
Which country buys most from Amazon?
The United States, by a wide margin. US net sales of $489.66 billion in 2025 sat far above the German total of $45.90 billion, the next-largest market Amazon discloses separately. The attribution rule matters here: the figure is whole-company net sales attributed to the United States, and the country rows sum to a consolidated total that includes AWS, advertising and physical stores, so it is not a pure retail number.
What Amazon’s Filings Do Not Show About Market Share
- The Census Bureau estimated US retail e-commerce sales at $340.2 billion for the second quarter of 2026, adjusted for seasonal variation, but not for price changes.
- Total US retail sales for the quarter were $1,986.5 billion.
- E-commerce accounted for 17.1% of total sales.
- Growth ran ahead of the wider market: the e-commerce estimate rose 12.2% (±0.9%) from the second quarter of 2025, against 6.7% (±0.5%) for total retail.
- On a not-adjusted basis, the same quarter came to $329.5 billion.
| Measure, Q2 2026 | Value |
|---|---|
| US retail e-commerce sales, seasonally adjusted | $340.2 billion |
| US retail e-commerce sales, not adjusted | $329.5 billion |
| Total US retail sales | $1,986.5 billion |
| E-commerce share of total retail sales | 17.1% |
Source: US Census Bureau Quarterly Retail E-Commerce Sales, August 2026
No arithmetic in Amazon’s filings produces a US e-commerce market share, so any page printing one has estimated it. Amazon’s US net sales line mixes AWS, advertising, and physical stores into one figure, while the Census Bureau measure covers retail e-commerce across the whole economy. Dividing one by the other produces a number with no meaning.
Worth flagging: the Census Bureau publishes its e-commerce estimate with a stated margin of error, at 12.2% (±0.9%) growth for the June quarter. Amazon’s filings report actuals rather than survey estimates, so they carry no comparable error bars. Mixing the two source types in one ratio compounds that difference silently.
How Many Customers Does Amazon Have?
Amazon publishes no current active-customer count and no Prime membership count in its 2025 Form 10-K, its Q2 2026 Form 10-Q, or its Q2 2026 earnings release. Two disclosed proxies come closest: the subscription services line, at $49.62 billion in 2025, and worldwide paid unit growth of 17% in the June quarter.
Any customer or member total circulating for 2026 therefore comes from a third-party estimate, not an Amazon disclosure. Treating an estimate as a reported figure is the most common error in Amazon statistics roundups.
Who Is Amazon’s Biggest Competitor?
Amazon does not rank its competitors by share in any of the filings reviewed here, so the honest answer is structural rather than a name. The company competes in at least three separate markets at once: retail, measured against total retail sales for the second quarter of 2026 estimated at $1,986.5 billion; cloud infrastructure through AWS; and advertising.
Each of those markets has a different leader, which is why a single “biggest competitor” answer misleads. A segment-by-segment read is the useful one. Our cross-border e-commerce data covers the international retail flank in more depth.
Conclusion
Amazon’s $200.6 billion quarter and $716.92 billion year describe a company whose scale is no longer the interesting part. The divergence inside it is: AWS contributing about 60.4% of quarterly operating income from roughly 21.0% of sales, advertising growing at 26%, headcount close to flat at 1,595,000 people, and 2025 capital spending of $128.32 billion that pushed free cash flow down to $11.19 billion.
For analysts, sellers, and anyone benchmarking against Amazon, the practical move is to work from the segment and category tables rather than the headline total. The filing worth watching next is the one that shows whether capital spending keeps outrunning operating income, because that trade, not the revenue number, will set the shape of Amazon’s accounts for the rest of the decade.
