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Amazon.com (AMZN) reported third-quarter 2025 earnings of $1.95 per share, a 36.4% year-over-year increase, and exceeded the Zacks Consensus Estimate by 23.42%. In after-hours trading on Thursday, shares rose over 13%. The company’s net sales reached $180.1 billion, a 13.4% increase year over year, surpassing management’s guidance of $174-$179.5 billion and the Zacks Consensus Estimate by 1.29%.
Net income stood at $21.2 billion, up 38.2% year over year, boosted by pre-tax gains of $9.5 billion from investments in Anthropic. Among key revenue contributors, AWS generated $33 billion, a 20.2% increase, while North America revenues rose 11.2% to $106.2 billion. The company anticipates fourth-quarter net sales between $206 billion and $213 billion, reflecting 10% to 13% growth compared to the fourth quarter of 2024.
As of September 30, 2025, Amazon’s cash and cash equivalents reached $66.9 billion, with operating cash flow increasing by 16% to $130.7 billion for the trailing 12 months. The company has aggressively expanded its AI infrastructure, resulting in significant capital investments but leading to a decrease in free cash flow to $14.8 billion from $47.7 billion year-over-year.
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