**AMZN Q4 2025 (Oct-Dec 2025) Quarterly Results**
Revenue = $213.4 billion (up 13.6% YoY)
* *Guidance was $206 to $213 billion*
Net Income = $21.2 billion (up 6% YoY)
* *Net Profit Margin = 9.9% (down 7.1% YoY)*
Earnings Per Share = $1.97 (up 5.9% YoY)
TTM Capital Expenditures = $128.3 billion (up 65.1% YoY)
TTM Free Cash Flow = $11.2 billion (down 70.7% YoY)
Revenue by Segment
* Online Stores = $83 billion (up 9.8% YoY)
* Physical Stores = $5.9 billion (up 5.4% YoY)
* 3rd Party Seller Services = $52.8 billion (up 11.2% YoY)
* Ads = $21.3 billion (up 23.1% YoY)
* Subscriptions = $13.1 billion (up 13.9% YoY)
* Cloud (AWS) = $35.6 billion (up 23.6% YoY)
* Other = $1.7 billion (up 6.3% YoY)
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**AMZN News Updates: Oct-Dec 2025**
* Won a seven-year $38 billion contract to supply AWS cloud services to OpenAI.
* Introduced a multi-cloud networking service jointly developed with Google.
* Partnered with Nvidia to use NVLink tech in Trainium4 chips.
* Launched 51 satellites, bringing total in-orbit constellation to 182 satellites (\*Project Kuiper rebranded to Amazon Leo\*).
* Expanded the rollout of robotic fulfillment centres (warehouses).
* Started mass layoffs.
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**AMZN 2026 Lookahead**
* Plans to launch 200+ more satellites and rollout Amazon Leo internet service to the public this year.
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Position: Long AMZN (5 years). Not financial advice.