Amazon Q4 2025 net sales up 14% to $213.4 billion; operating income up to $25.0 billion
Amazon reported fourth quarter 2025 net sales up 14% to $213.4 billion, operating income of $25.0 billion, and diluted earnings per share of $1.95, all higher than a year earlier. Results include $2.4 billion of special charges, and first quarter 2026 operating income guidance of $16.5 billion to $21.5 billion includes about $1 billion of higher Amazon Leo costs. For shareholders, the profit gains come alongside a sharp drop in trailing twelve-month free cash flow to $11.2 billion, as the company expects about $200 billion of capital expenditures in 2026.
Key points
- Net income $21.2 billion, or $1.95 per diluted share, versus $1.86 in fourth quarter 2024.
- Fourth quarter operating income included $2.4 billion in special charges; excluding them, operating income would have been $27.4 billion.
- First quarter 2026 guidance: net sales $173.5 billion to $178.5 billion; operating income $16.5 billion to $21.5 billion, compared with $18.4 billion in first quarter 2025.
- Trailing twelve-month free cash flow fell to $11.2 billion from $38.2 billion, driven by a $50.7 billion year-over-year increase in property and equipment purchases.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:16 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 05, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.