Amazon | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 181.52 B

Revenue: As of FY2026 Q1, the actual value is USD 181.52 B, beating the estimate of USD 177.17 B.

EPS: As of FY2026 Q1, the actual value is USD 2.78, beating the estimate of USD 1.653.

EBIT: As of FY2026 Q1, the actual value is USD 23.52 B.

Net Sales

• Consolidated net sales for 亚马逊 (Amazon.com, Inc.) were $181.5 billion for the first quarter ended March 31, 2026, an increase of 17% compared to $155.7 billion in the first quarter of 2025. Excluding a $2.9 billion favorable impact from foreign exchange rates, net sales increased by 15% year-over-year.
• North America segment net sales increased by 12% year-over-year to $104.1 billion.
• International segment net sales grew by 19% year-over-year to $39.8 billion, or 11% excluding changes in foreign exchange rates.
• AWS segment net sales increased by 28% year-over-year to $37.6 billion.
• Online stores generated $64.254 billion, a 12% increase year-over-year.
• Physical stores recorded $5.785 billion in net sales, up 5% year-over-year.
• Third-party seller services contributed $41.578 billion, showing a 14% year-over-year increase.
• Advertising services net sales reached $17.243 billion, a 24% increase year-over-year.
• Subscription services net sales were $13.427 billion, up 15% year-over-year.
• Other net sales generated $1.645 billion, a 25% increase year-over-year.

Operating Income

• Consolidated operating income for the first quarter of 2026 increased to $23.9 billion, compared to $18.4 billion in the first quarter of 2025.
• North America segment operating income was $8.3 billion, up from $5.8 billion in the first quarter of 2025.
• International segment operating income was $1.4 billion, compared to $1.0 billion in the first quarter of 2025.
• AWS segment operating income was $14.2 billion, an increase from $11.5 billion in the first quarter of 2025.

Net Income

• Consolidated net income increased to $30.3 billion in the first quarter of 2026, compared to $17.1 billion in the first quarter of 2025. This included pre-tax gains of $16.8 billion from investments in Anthropic, which were included in non-operating income.

Cash Flow (Trailing Twelve Months - TTM)

• Operating cash flow increased by 30% to $148.5 billion for the trailing twelve months ended March 31, 2026, up from $113.9 billion for the trailing twelve months ended March 31, 2025.
• Free cash flow decreased to $1.2 billion for the trailing twelve months ended March 31, 2026, compared to $25.9 billion for the same period ended March 31, 2025. This decrease was primarily driven by a year-over-year increase of $59.3 billion in purchases of property and equipment, net of proceeds from sales and incentives, largely reflecting investments in artificial intelligence.

Operating Expenses (First Quarter 2026)

• Cost of Sales: $87.463 billion.
• Fulfillment: $27.289 billion.
• Technology and Infrastructure: $29.567 billion.
• Sales and Marketing: $10.314 billion.
• General and Administrative: $2.587 billion.
• Other Operating Expense (Income), Net: $447 million.
• Total Operating Expenses: $157.667 billion.

Stock-based Compensation Expense (First Quarter 2026)

• Total stock-based compensation expense was $4.032 billion, representing a 9% year-over-year increase.
  • Cost of sales: $171 million.
  • Fulfillment: $601 million.
  • Technology and infrastructure: $2.286 billion.
  • Sales and marketing: $663 million.
  • General and administrative: $311 million.

Other Key Operational Metrics

• Worldwide Paid Units Growth: Increased by 15% year-over-year.
• Worldwide Seller Unit Mix: Accounted for 60% of worldwide paid units.
• Worldwide Shipping Costs: Totaled $25.709 billion, a 14% year-over-year increase.
• Employees: The company had 1,575,000 full-time and part-time employees, a 1% year-over-year increase.

Outlook / Guidance (Second Quarter 2026)

• 亚马逊 (Amazon.com, Inc.) anticipates net sales for the second quarter of 2026 to be between $194.0 billion and $199.0 billion, representing a growth of 16% to 19% compared to the second quarter of 2025. Operating income is projected to be between $20.0 billion and $24.0 billion, compared to $19.2 billion in the second quarter of 2025. This guidance assumes Prime Day occurs in the second quarter of 2026 and no additional business acquisitions, restructurings, or legal settlements are concluded.