April 27, 2023
Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2023.
“There’s a lot to like about how our teams are delivering for customers, particularly amidst an uncertain economy,” said Andy Jassy, Amazon CEO. “Our Stores business is continuing to improve the cost to serve in our fulfillment network while increasing the speed with which we get products into the hands of customers (we expect to have our fastest Prime delivery speeds ever in 2023). Our Advertising business continues to deliver robust growth, largely due to our ongoing machine learning investments that help customers see relevant information when they engage with us, which in turn delivers unusually strong results for brands. And, while our AWS business navigates companies spending more cautiously in this macro environment, we continue to prioritize building long-term customer relationships both by helping customers save money and enabling them to more easily leverage technologies like Large Language Models and Generative AI with our uniquely cost-effective machine learning chips (“Trainium” and “Inferentia”), managed Large Language Models (“Bedrock”), and AI code companion CodeWhisperer. We like the fundamentals we’re seeing in AWS, and believe there’s much growth ahead.”
Highlights
Obsessing over the customer experience
Amazon obsesses over how to make customers’ lives better and easier every day. This is true for consumers, sellers, brands, developers, enterprises, and creators. For example, in the past quarter, Amazon:
Inventing on behalf of customers
Amazon is driven by a passion for invention across all of its business areas. The company builds new products and services that customers ask for, and also invents new ones that customers didn’t know they wanted but make their lives or businesses better in some meaningful way. For example, this past quarter, Amazon:
Empowering employees and delivery service partners
In addition to its focus on customers, Amazon strives to make every day better for its employees and delivery service partners. For example, in the first quarter, the company:
Supporting communities and protecting the environment
Amazon believes that success and scale bring broad responsibility to help the planet, future generations, and local communities in which the company has a significant presence. Amazon employees have passion for investing in these areas, and a sampling of the efforts from this past quarter are that Amazon:
Financial Guidance
The following forward-looking statements reflect Amazon.com’s expectations as of April 27, 2023, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic and geopolitical conditions and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the Internet, online commerce, and cloud services, and the various factors detailed below.
Second Quarter 2023 Guidance
A conference call will be webcast live today at 2:30 p.m. PT/5:30 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company’s financial and operating results.
These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent filings.
Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
AMAZON.COM, INC.
Consolidated Statements of Cash Flows
(in millions)
(unaudited)
Three Months Ended
March 31,
Twelve Months Ended
March 31,
2022
2023
2022
2023
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD
$
36,477
$
54,253
$
34,155
$
36,599
OPERATING ACTIVITIES:
Net income (loss)
(3,844
)
3,172
21,413
4,294
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other
9,193
11,123
36,088
43,851
Stock-based compensation
3,250
4,748
13,701
21,119
Other expense (income), net
8,689
534
(4,161
)
8,811
Deferred income taxes
(2,001
)
(472
)
(4,014
)
(6,619
)
Changes in operating assets and liabilities:
Inventories
(2,614
)
371
(11,797
)
393
Accounts receivable, net and other
(1,516
)
1,521
(17,424
)
(18,860
)
Accounts payable
(9,380
)
(11,264
)
2,488
1,061
Accrued expenses and other
(5,903
)
(5,763
)
280
(1,418
)
Unearned revenue
1,336
818
2,750
1,698
Net cash provided by (used in) operating activities
(2,790
)
4,788
39,324
54,330
INVESTING ACTIVITIES:
Purchases of property and equipment
(14,951
)
(14,207
)
(63,922
)
(62,901
)
Proceeds from property and equipment sales and incentives
1,209
1,137
5,971
5,252
Acquisitions, net of cash acquired, and other
(6,341
)
(3,513
)
(7,696
)
(5,488
)
Sales and maturities of marketable securities
22,753
1,115
64,311
9,963
Purchases of marketable securities
(1,764
)
(338
)
(47,246
)
(1,139
)
Net cash provided by (used in) investing activities
906
(15,806
)
(48,582
)
(54,313
)
FINANCING ACTIVITIES:
Common stock repurchased
(2,666
)
—
(2,666
)
(3,334
)
Proceeds from short-term debt, and other
13,743
12,780
19,773
40,590
Repayments of short-term debt, and other
(6,231
)
(3,603
)
(11,983
)
(34,926
)
Proceeds from long-term debt
—
—
18,892
21,166
Repayments of long-term debt
—
(1,386
)
(1,551
)
(2,644
)
Principal repayments of finance leases
(2,777
)
(1,380
)
(10,534
)
(6,544
)
Principal repayments of financing obligations
(79
)
(57
)
(174
)
(226
)
Net cash provided by (used in) financing activities
1,990
6,354
11,757
14,082
Foreign currency effect on cash, cash equivalents, and restricted cash
16
145
(55
)
(964
)
Net increase (decrease) in cash, cash equivalents, and restricted cash
122
(4,519
)
2,444
13,135
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD
$
36,599
$
49,734
$
36,599
$
49,734
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt
$
279
$
402
$
1,101
$
1,684
Cash paid for operating leases
2,367
2,467
7,449
8,733
Cash paid for interest on finance leases
107
81
471
348
Cash paid for interest on financing obligations
58
59
178
208
Cash paid for income taxes, net of refunds
453
619
3,340
6,201
Assets acquired under operating leases
2,175
3,626
24,008
20,251
Property and equipment acquired under finance leases, net of remeasurements and modifications
166
8
5,160
517
Property and equipment recognized during the construction period of build-to-suit lease arrangements
1,365
131
6,324
1,953
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating
33
720
263
5,845
AMAZON.COM, INC.
Consolidated Statements of Operations
(in millions, except per share data)
(unaudited)
Three Months Ended
March 31,
2022
2023
Net product sales
$
56,455
$
56,981
Net service sales
59,989
70,377
Total net sales
116,444
127,358
Operating expenses:
Cost of sales
66,499
67,791
Fulfillment
20,271
20,905
Technology and content
14,842
20,450
Sales and marketing
8,320
10,172
General and administrative
2,594
3,043
Other operating expense (income), net
249
223
Total operating expenses
112,775
122,584
Operating income
3,669
4,774
Interest income
108
611
Interest expense
(472
)
(823
)
Other income (expense), net
(8,570
)
(443
)
Total non-operating expense
(8,934
)
(655
)
Income (loss) before income taxes
(5,265
)
4,119
Benefit (provision) for income taxes
1,422
(948
)
Equity-method investment activity, net of tax
(1
)
1
Net income (loss)
$
(3,844
)
$
3,172
Basic earnings per share
$
(0.38
)
$
0.31
Diluted earnings per share
$
(0.38
)
$
0.31
Weighted-average shares used in computation of earnings per share:
Basic
10,171
10,250
Diluted
10,171
10,347
AMAZON.COM, INC.
Consolidated Statements of Comprehensive Income (Loss)
(in millions)
(unaudited)
Three Months Ended
March 31,
2022
2023
Net income (loss)
$
(3,844
)
$
3,172
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $(16) and $(10)
(333
)
386
Net change in unrealized gains (losses) on available-for-sale debt securities:
Unrealized gains (losses), net of tax of $1 and $(29)
(662
)
95
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0 and $(10)
6
33
Net unrealized gains (losses) on available-for-sale debt securities
(656
)
128
Total other comprehensive income (loss)
(989
)
514
Comprehensive income (loss)
$
(4,833
)
$
3,686
AMAZON.COM, INC.
Segment Information
(in millions)
(unaudited)
Three Months Ended
March 31,
2022
2023
North America
Net sales
$
69,244
$
76,881
Operating expenses
70,812
75,983
Operating income (loss)
$
(1,568
)
$
898
International
Net sales
$
28,759
$
29,123
Operating expenses
30,040
30,370
Operating loss
$
(1,281
)
$
(1,247
)
AWS
Net sales
$
18,441
$
21,354
Operating expenses
11,923
16,231
Operating income
$
6,518
$
5,123
Consolidated
Net sales
$
116,444
$
127,358
Operating expenses
112,775
122,584
Operating income
3,669
4,774
Total non-operating expense
(8,934
)
(655
)
Benefit (provision) for income taxes
1,422
(948
)
Equity-method investment activity, net of tax
(1
)
1
Net income (loss)
$
(3,844
)
$
3,172
Segment Highlights:
Y/Y net sales growth (decline):
North America
8
%
11
%
International
(6
)
1
AWS
37
16
Consolidated
7
9
Net sales mix:
North America
59
%
60
%
International
25
23
AWS
16
17
Consolidated
100
%
100
%
AMAZON.COM, INC.
Consolidated Balance Sheets
(in millions, except per share data)
(unaudited)
December 31, 2022
March 31, 2023
ASSETS
Current assets:
Cash and cash equivalents
$
53,888
$
49,343
Marketable securities
16,138
15,062
Inventories
34,405
34,170
Accounts receivable, net and other
42,360
37,646
Total current assets
146,791
136,221
Property and equipment, net
186,715
190,754
Operating leases
66,123
68,262
Goodwill
20,288
22,749
Other assets
42,758
46,392
Total assets
$
462,675
$
464,378
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
79,600
$
66,907
Accrued expenses and other
62,566
66,382
Unearned revenue
13,227
14,281
Total current liabilities
155,393
147,570
Long-term lease liabilities
72,968
74,267
Long-term debt
67,150
67,084
Other long-term liabilities
21,121
20,931
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding)
—
—
Common stock ($0.01 par value; 100,000 shares authorized; 10,757 and 10,773 shares issued; 10,242 and 10,258 shares outstanding)
108
108
Treasury stock, at cost
(7,837
)
(7,837
)
Additional paid-in capital
75,066
79,863
Accumulated other comprehensive income (loss)
(4,487
)
(3,973
)
Retained earnings
83,193
86,365
Total stockholders’ equity
146,043
154,526
Total liabilities and stockholders’ equity
$
462,675
$
464,378
AMAZON.COM, INC.
Supplemental Financial Information and Business Metrics
(in millions, except per share data)
(unaudited)
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Y/Y %
Change
Cash Flows and Shares
Operating cash flow -- trailing twelve months (TTM)
$
46,327
$
39,324
$
35,574
$
39,665
$
46,752
$
54,330
38%
Operating cash flow -- TTM Y/Y growth (decline)
(30
)%
(41
)%
(40
)%
(27
)%
1
%
38
%
N/A
Purchases of property and equipment, net of proceeds from sales and incentives -- TTM
$
55,396
$
57,951
$
59,061
$
59,351
$
58,321
$
57,649
(1)%
Principal repayments of finance leases -- TTM
$
11,163
$
10,534
$
9,789
$
8,561
$
7,941
$
6,544
(38)%
Principal repayments of financing obligations -- TTM
$
162
$
174
$
205
$
233
$
248
$
226
30%
Equipment acquired under finance leases -- TTM (1)
$
4,422
$
2,764
$
1,621
$
868
$
299
$
285
(90)%
Principal repayments of all other finance leases -- TTM (2)
$
687
$
714
$
751
$
706
$
670
$
625
(13)%
Free cash flow -- TTM (3)
$
(9,069
)
$
(18,627
)
$
(23,487
)
$
(19,686
)
$
(11,569
)
$
(3,319
)
(82)%
Free cash flow less principal repayments of finance leases and financing obligations -- TTM (4)
$
(20,394
)
$
(29,335
)
$
(33,481
)
$
(28,480
)
$
(19,758
)
$
(10,089
)
(66)%
Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations -- TTM (5)
$
(14,340
)
$
(22,279
)
$
(26,064
)
$
(21,493
)
$
(12,786
)
$
(4,455
)
(80)%
Common shares and stock-based awards outstanding
10,455
10,454
10,551
10,597
10,627
10,625
2%
Common shares outstanding
10,175
10,171
10,183
10,198
10,242
10,258
1%
Stock-based awards outstanding
280
283
368
399
384
367
30%
Stock-based awards outstanding -- % of common shares outstanding
2.8
%
2.8
%
3.6
%
3.9
%
3.8
%
3.6
%
N/A
Results of Operations
Worldwide (WW) net sales
$
137,412
$
116,444
$
121,234
$
127,101
$
149,204
$
127,358
9%
WW net sales -- Y/Y growth, excluding F/X
10
%
9
%
10
%
19
%
12
%
11
%
N/A
WW net sales -- TTM
$
469,822
$
477,748
$
485,902
$
502,191
$
513,983
$
524,897
10%
WW net sales -- TTM Y/Y growth, excluding F/X
21
%
14
%
11
%
12
%
13
%
13
%
N/A
Operating income
$
3,460
$
3,669
$
3,317
$
2,525
$
2,737
$
4,774
30%
F/X impact -- favorable
$
57
$
126
$
165
$
357
$
213
$
139
N/A
Operating income -- Y/Y growth (decline), excluding F/X
(50
)%
(60
)%
(59
)%
(55
)%
(27
)%
26
%
N/A
Operating margin -- % of WW net sales
2.5
%
3.2
%
2.7
%
2.0
%
1.8
%
3.7
%
N/A
Operating income -- TTM
$
24,879
$
19,683
$
15,298
$
12,971
$
12,248
$
13,353
(32)%
Operating income -- TTM Y/Y growth (decline), excluding F/X
8
%
(30
)%
(49
)%
(57
)%
(54
)%
(37
)%
N/A
Operating margin -- TTM % of WW net sales
5.3
%
4.1
%
3.1
%
2.6
%
2.4
%
2.5
%
N/A
Net income (loss)
$
14,323
$
(3,844
)
$
(2,028
)
$
2,872
$
278
$
3,172
N/A
Net income (loss) per diluted share
$
1.39
$
(0.38
)
$
(0.20
)
$
0.28
$
0.03
$
0.31
N/A
Net income (loss) -- TTM
$
33,364
$
21,413
$
11,607
$
11,323
$
(2,722
)
$
4,294
(80)%
Net income (loss) per diluted share -- TTM
$
3.24
$
2.08
$
1.13
$
1.10
$
(0.27
)
$
0.42
(80)%
______________________________
(1)
For the twelve months ended March 31, 2022 and 2023, this amount relates to equipment included in “Property and equipment acquired under finance leases, net of remeasurements and modifications” of $5,160 million and $517 million.
(2)
For the twelve months ended March 31, 2022 and 2023, this amount relates to property included in “Principal repayments of finance leases” of $10,534 million and $6,544 million.
(3)
Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and incentives.”
(4)
Free cash flow less principal repayments of finance leases and financing obligations is free cash flow reduced by “Principal repayments of finance leases” and “Principal repayments of financing obligations.”
(5)
Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations is free cash flow reduced by equipment acquired under finance leases, which is included in “Property and equipment acquired under finance leases, net of remeasurements and modifications,” principal repayments of all other finance lease liabilities, which is included in “Principal repayments of finance leases,” and “Principal repayments of financing obligations.”
AMAZON.COM, INC.
Supplemental Financial Information and Business Metrics
(in millions)
(unaudited)
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Y/Y %
Change
Segments
North America Segment:
Net sales
$
82,360
$
69,244
$
74,430
$
78,843
$
93,363
$
76,881
11%
Net sales -- Y/Y growth, excluding F/X
9
%
8
%
10
%
20
%
14
%
11
%
N/A
Net sales -- TTM
$
279,833
$
284,711
$
291,591
$
304,877
$
315,880
$
323,517
14%
Operating income (loss)
$
(206
)
$
(1,568
)
$
(627
)
$
(412
)
$
(240
)
$
898
N/A
F/X impact -- favorable
$
32
$
42
$
61
$
95
$
76
$
41
N/A
Operating income (loss) -- Y/Y growth (decline), excluding F/X
(108
)%
(147
)%
(122
)%
(158
)%
53
%
N/A
N/A
Operating margin -- % of North America net sales
(0.2
)%
(2.3
)%
(0.8
)%
(0.5
)%
(0.3
)%
1.2
%
N/A
Operating income (loss) -- TTM
$
7,271
$
2,253
$
(1,521
)
$
(2,813
)
$
(2,847
)
$
(381
)
(117)%
Operating margin -- TTM % of North America net sales
2.6
%
0.8
%
(0.5
)%
(0.9
)%
(0.9
)%
(0.1
)%
N/A
International Segment:
Net sales
$
37,272
$
28,759
$
27,065
$
27,720
$
34,463
$
29,123
1%
Net sales -- Y/Y growth (decline), excluding F/X
3
%
0
%
(1
)%
12
%
5
%
9
%
N/A
Net sales -- TTM
$
127,787
$
125,897
$
122,241
$
120,816
$
118,007
$
118,371
(6)%
Operating loss
$
(1,627
)
$
(1,281
)
$
(1,771
)
$
(2,466
)
$
(2,228
)
$
(1,247
)
(3)%
F/X impact -- unfavorable
$
(58
)
$
(79
)
$
(231
)
$
(216
)
$
(331
)
$
(174
)
N/A
Operating loss -- Y/Y growth (decline), excluding F/X
(533
)%
(196
)%
(526
)%
147
%
17
%
(16
)%
N/A
Operating margin -- % of International net sales
(4.4
)%
(4.5
)%
(6.5
)%
(8.9
)%
(6.5
)%
(4.3
)%
N/A
Operating loss -- TTM
$
(924
)
$
(3,457
)
$
(5,590
)
$
(7,145
)
$
(7,746
)
$
(7,712
)
123%
Operating margin -- TTM % of International net sales
(0.7
)%
(2.7
)%
(4.6
)%
(5.9
)%
(6.6
)%
(6.5
)%
N/A
AWS Segment:
Net sales
$
17,780
$
18,441
$
19,739
$
20,538
$
21,378
$
21,354
16%
Net sales -- Y/Y growth, excluding F/X
40
%
37
%
33
%
28
%
20
%
16
%
N/A
Net sales -- TTM
$
62,202
$
67,140
$
72,070
$
76,498
$
80,096
$
83,009
24%
Operating income
$
5,293
$
6,518
$
5,715
$
5,403
$
5,205
$
5,123
(21)%
F/X impact -- favorable
$
83
$
163
$
335
$
478
$
468
$
272
N/A
Operating income -- Y/Y growth (decline), excluding F/X
46
%
53
%
28
%
1
%
(10
)%
(26
)%
N/A
Operating margin -- % of AWS net sales
29.8
%
35.3
%
29.0
%
26.3
%
24.3
%
24.0
%
N/A
Operating income -- TTM
$
18,532
$
20,887
$
22,409
$
22,929
$
22,841
$
21,446
3%
Operating margin -- TTM % of AWS net sales
29.8
%
31.1
%
31.1
%
30.0
%
28.5
%
25.8
%
N/A
AMAZON.COM, INC.
Supplemental Financial Information and Business Metrics
(in millions, except employee data)
(unaudited)
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Y/Y %
Change
Net Sales
Online stores (1)
$
66,075
$
51,129
$
50,855
$
53,489
$
64,531
$
51,096
0%
Online stores -- Y/Y growth (decline), excluding F/X
1
%
(1
)%
0
%
13
%
2
%
3
%
N/A
Physical stores (2)
$
4,688
$
4,591
$
4,721
$
4,694
$
4,957
$
4,895
7%
Physical stores -- Y/Y growth, excluding F/X
16
%
16
%
13
%
10
%
6
%
7
%
N/A
Third-party seller services (3)
$
30,320
$
25,335
$
27,376
$
28,666
$
36,339
$
29,820
18%
Third-party seller services -- Y/Y growth, excluding F/X
12
%
9
%
13
%
23
%
24
%
20
%
N/A
Subscription services (4)
$
8,123
$
8,410
$
8,716
$
8,903
$
9,189
$
9,657
15%
Subscription services -- Y/Y growth, excluding F/X
16
%
13
%
14
%
14
%
17
%
17
%
N/A
Advertising services (5)
$
9,716
$
7,877
$
8,757
$
9,548
$
11,557
$
9,509
21%
Advertising services -- Y/Y growth, excluding F/X
33
%
25
%
21
%
30
%
23
%
23
%
N/A
AWS
$
17,780
$
18,441
$
19,739
$
20,538
$
21,378
$
21,354
16%
AWS -- Y/Y growth, excluding F/X
40
%
37
%
33
%
28
%
20
%
16
%
N/A
Other (6)
$
710
$
661
$
1,070
$
1,263
$
1,253
$
1,027
55%
Other -- Y/Y growth, excluding F/X
19
%
28
%
135
%
168
%
80
%
57
%
N/A
Stock-based Compensation Expense
Cost of sales
$
179
$
146
$
213
$
190
$
208
$
165
13%
Fulfillment
$
565
$
498
$
763
$
727
$
757
$
603
21%
Technology and content
$
1,903
$
1,645
$
2,814
$
3,036
$
3,126
$
2,574
56%
Sales and marketing
$
726
$
665
$
990
$
1,128
$
1,092
$
993
49%
General and administrative
$
307
$
296
$
429
$
475
$
423
$
413
40%
Total stock-based compensation expense
$
3,680
$
3,250
$
5,209
$
5,556
$
5,606
$
4,748
46%
Other
WW shipping costs
$
23,656
$
19,560
$
19,304
$
19,942
$
24,714
$
19,937
2%
WW shipping costs -- Y/Y growth
10
%
14
%
9
%
10
%
4
%
2
%
N/A
WW paid units -- Y/Y growth (7)
3
%
0
%
1
%
11
%
8
%
8
%
N/A
WW seller unit mix -- % of WW paid units (7)
56
%
55
%
57
%
58
%
59
%
59
%
N/A
Employees (full-time and part-time; excludes contractors & temporary personnel)
1,608,000
1,622,000
1,523,000
1,544,000
1,541,000
1,465,000
(10)%
Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth (decline)
24
%
28
%
14
%
5
%
(4
)%
(10
)%
N/A
________________________
(1)
Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital product subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)
Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)
Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)
Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(5)
Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(6)
Includes sales related to various other offerings, such as certain licensing and distribution of video content, shipping services, and health care services, and our co-branded credit card agreements.
(7)
Excludes the impact of Whole Foods Market.
Amazon.com, Inc.
Customer Accounts
Seller Accounts
AWS Customers
Units
Source: Amazon.com, Inc. Multimedia Files:News release details
Certain Definitions