Amazon.com, Inc.
Explore Amazon.com, Inc.
Core profile pages, annual revenue records, and related research hubs for this company.
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Amazon.com, Inc.
Explore Amazon.com, Inc.
Core profile pages, annual revenue records, and related research hubs for this company.
Annual Revenue
FY2025 Revenue
$716.9B
▲ 12.4% vs FY2024 ($638.0B)
Source: Annual report / company filing
Amazon.com, Inc. reported $716.9B in revenue for fiscal year 2025. This represents a growth of 12.4% compared to the 2024 figure of $638.0B.
$20 billion. The $716.9B in FY2025 revenue gets all the press, but the real story is how little of that matters to the bottom line. Strip away the razor-thin retail margins and what you find is a $105 billion cloud computing empire, a $56 billion advertising machine, and a subscription flywheel with 200 million paying households — all of it funded by a retail operation that exists primarily to generate the traffic and data that make everything else work. Net income nearly doubled from $30.4 billion to $59.2 billion in a single year. Under CEO Andy Jassy, Amazon reported $716.9B in FY2025 revenue with approximately 1.5 million employees worldwide and a market capitalization exceeding $2 trillion. $638 billion sounds impressive until you realize that most of it — the online stores segment, the stuff in cardboard boxes — operates on margins so thin you could paper a wall with them. This segment pulled in approximately $140 billion in FY2024. $105 billion in FY2024 revenue. Roughly $39 billion in operating income. $56 billion in FY2024, growing north of twenty percent annually, with margins estimated above fifty percent. Prime membership ($139/year in the US) generates an estimated $40 billion in subscription revenue, but that understates its value by an order of magnitude. Healthcare is a $4 trillion US market where Amazon is still in the first inning. FY2025 revenue reached $716.9B with approximately 1.5 million employees and a market capitalization exceeding $2 trillion. The business model combines low-margin retail (generating cash through negative working capital), high-margin AWS cloud services ($105B in FY2024), and fast-growing advertising revenue ($56B). Not because Walmart's e-commerce is better — it isn't — but because Walmart has something Amazon spent $13.7 billion trying to buy with Whole Foods: grocery frequency. Over $100 billion in logistics infrastructure. The number that tells the real Amazon story isn't $638 billion in revenue. It's the jump from $30.4 billion to $59.2 billion in net income — a near-doubling in a single fiscal year. FY2022 was the low point: a $2.7 billion net loss driven by pandemic overexpansion — too many warehouses, too many employees, too much optimism about permanently elevated e-commerce demand. AWS contributed $105 billion in revenue and $39 billion in operating income — thirty-seven percent margins on a business that represents less than seventeen percent of total sales. Advertising brought in $56 billion at estimated margins above fifty percent. The market cap above $2 trillion prices in the optimistic scenario. I've seen estimates north of $150 billion for the logistics network alone — the 1,000+ fulfillment centers, the 90-aircraft air cargo fleet, the tens of thousands of delivery vans, the sortation facilities, the last-mile stations. By 2028, Amazon will either be the default infrastructure layer for enterprise AI or it will have spent $100 billion trying. This business hits $80 billion by 2027 without requiring any technological breakthrough — just more surfaces and better targeting on existing ones. Five years from now, it's either a $30 billion business or a write-down. That's the level of improvisation happening in the summer of 1994 — a thirty-year-old quant from a hedge fund, driving cross-country with his wife while dictating a business plan from the passenger seat, hadn't even settled on a name for the company that would eventually be worth $2 trillion. Bezos had told early employees that if they sold $1 million in books by 2000, he'd consider it a success.
| Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2025 | $716.9B | — | +12.4% |
| FY2024 | $638.0B | $59.2B | +11.0% |
| FY2023 | $574.8B | $30.4B | +11.8% |
| FY2022 | $514.0B | N/A | +9.4% |
| FY2021 | $469.8B | $33.4B | +21.7% |
| FY2020 | $386.1B | $21.3B | +37.6% |
| FY2019 | $280.5B | $11.6B | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.