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Amazon reported a 13% increase in net sales to $180.2 bn (£135.2 bn) for the three months to 30 September 2025, up from $158.9 bn (£119.2 bn) a year earlier, as artificial intelligence and cloud services drove growth.
North America sales rose 11% year on year to $106.3 bn (£79.7 bn), while international sales increased 14% to $40.9 bn (£30.7 bn), or 10% excluding foreign-exchange changes. Amazon Web Services (AWS) revenue grew 20% to $33.0 bn (£24.8 bn), marking its fastest pace since 2022.
Amazon also reported steady operating income at $17.4 bn (£13.1 bn) compared with the same period last year, but included two one-off charges totalling $4.3 bn (£3.2 bn): a $2.5 bn (£1.9 bn) legal settlement with the US Federal Trade Commission and $1.8 bn (£1.4 bn) in severance costs tied to job reductions. Excluding these items, operating income would have been $21.7 bn (£16.3 bn).
Net income rose to $21.2 bn (£15.9 bn), or $1.95 (£1.46) per diluted share, compared with $15.3 bn (£11.5 bn), or $1.43 (£1.07) per share, in the third quarter of 2024. Results included pre-tax gains of $9.5 bn (£7.1 bn) from Amazon’s investment in Anthropic.
Operating cash flow for the trailing 12 months increased 16% to $130.7 bn (£98.0 bn). Free cash flow fell to $14.8 bn (£11.1 bn), reflecting higher capital spending, compared with $47.7 bn (£35.8 bn) a year earlier.
Looking ahead, Amazon forecast fourth-quarter net sales between $206 bn (£154.5 bn) and $213 bn (£159.8 bn), representing year-on-year growth of 10% to 13%, with an expected foreign-exchange benefit of 190 basis points. Operating income is projected between $21 bn (£15.8 bn) and $26 bn (£19.5 bn), compared with $21.2 bn (£15.9 bn) a year earlier.
Andy Jassy, president and CEO, said: “We continue to see strong momentum and growth across Amazon as AI drives meaningful improvements in every corner of our business. AWS is growing at a pace we haven’t seen since 2022, re-accelerating to 20.2% YoY. We continue to see strong demand in AI and core infrastructure, and we’ve been focused on accelerating capacity – adding more than 3.8 gigawatts in the past 12 months.
“In Stores, we continue to realise the benefits of innovating in our fulfillment network, and we’re on track to deliver to Prime members at the fastest speeds ever again this year, expand same-day delivery of perishable groceries to over 2,300 communities by end of year, and double the number of rural communities with access to Amazon’s Same-Day and Next-Day Delivery.”
