Amazon’s Q4 Performance Highlights
In the fourth quarter of 2025, Amazon’s consolidated net sales increased 14% year over year to $213.4 billion, with Amazon Web Services (AWS) revenue rising 24% to $35.6 billion. AWS generated $12.5 billion in operating income, constituting half of Amazon’s total operating income for the quarter. Amazon reported an operating cash flow of $139.5 billion for 2025.
Amazon’s AWS growth is at its highest pace in 13 quarters, driven by demand for core and AI workloads. CEO Andy Jassy indicated that AWS remains constrained by supply, allowing for potential acceleration as capacity expands. The company plans to invest approximately $200 billion on capital expenditures in 2026, which could impact future earnings due to depreciation expenses.
