Amazon.com Announces First Quarter Results

(NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2022. Operating cash flow decreased 41% to $39.3 billion ... Skiptomaincontent Innovation Jobcreation&investment OurCommunities Supportingsmallbusiness WorkingatAmazon DayOne:TheAmazonBlog EN EN VisitadifferentAmazonsite EuropeanUnionEnglish FranceFrançais Germany(Deutschland)Deutsch IndiaEnglish Italy(Italia)Italiano Spain(España)Español UnitedKingdomEnglish UnitedStatesEnglish SiteSearch Overview AboutAmazon InvestorRelations   Newsrelease   Newsreleasedetails Annualreports,proxiesandshareholderlettersQuarterlyresultsSECfilingsPressreleasesFAQsCorporategovernanceOfficersanddirectorsContactusandrequestdocumentsEvents2022ProxyStatementandAnnualMeetingInformation Newsreleasedetails Amazon.comAnnouncesFirstQuarterResults April28,2022 Download PDFFormat(opensinnewwindow) PDF359KB SEATTLE--(BUSINESSWIRE)-- Amazon.com,Inc.(NASDAQ:AMZN)todayannouncedfinancialresultsforitsfirstquarterendedMarch31,2022. Operatingcashflowdecreased41%to$39.3billionforthetrailingtwelvemonths,comparedwith$67.2billionforthetrailingtwelvemonthsendedMarch31,2021. Freecashflowdecreasedtoanoutflowof$18.6billionforthetrailingtwelvemonths,comparedwithaninflowof$26.4billionforthetrailingtwelvemonthsendedMarch31,2021. Freecashflowlessprincipalrepaymentsoffinanceleasesandfinancingobligationsdecreasedtoanoutflowof$29.3billionforthetrailingtwelvemonths,comparedwithaninflowof$14.9billionforthetrailingtwelvemonthsendedMarch31,2021. Freecashflowlessequipmentfinanceleasesandprincipalrepaymentsofallotherfinanceleasesandfinancingobligationsdecreasedtoanoutflowof$22.3billionforthetrailingtwelvemonths,comparedwithaninflowof$16.8billionforthetrailingtwelvemonthsendedMarch31,2021. Commonsharesoutstandingplussharesunderlyingstock-basedawardstotaled523milliononMarch31,2022,comparedwith519milliononeyearago. Netsalesincreased7%to$116.4billioninthefirstquarter,comparedwith$108.5billioninfirstquarter2021.Excludingthe$1.8billionunfavorableimpactfromyear-over-yearchangesinforeignexchangeratesthroughoutthequarter,netsalesincreased9%comparedwithfirstquarter2021. Operatingincomedecreasedto$3.7billioninthefirstquarter,comparedwith$8.9billioninfirstquarter2021. Netlosswas$3.8billioninthefirstquarter,or$7.56perdilutedshare,comparedwithnetincomeof$8.1billion,or$15.79perdilutedshare,infirstquarter2021.Firstquarter2022netlossincludesapre-taxvaluationlossof$7.6billionincludedinnon-operatingexpensefromourcommonstockinvestmentinRivianAutomotive,Inc. “ThepandemicandsubsequentwarinUkrainehavebroughtunusualgrowthandchallenges,”saidAndyJassy,AmazonCEO.“WithAWSgrowing34%annuallyoverthelasttwoyears,and37%year-over-yearinthefirstquarter,AWShasbeenintegralinhelpingcompaniesweatherthepandemicandmovemoreoftheirworkloadsintothecloud.OurConsumerbusinesshasgrown23%annuallyoverthepasttwoyears,withextraordinarygrowthin2020of39%year-over-yearthatnecessitateddoublingthesizeofourfulfillmentnetworkthatwe’dbuiltoverAmazon’sfirst25years—anddoingsoinjust24months.Today,aswe’renolongerchasingphysicalorstaffingcapacity,ourteamsaresquarelyfocusedonimprovingproductivityandcostefficienciesthroughoutourfulfillmentnetwork.Weknowhowtodothisandhavedoneitbefore.Thismaytakesometime,particularlyasweworkthroughongoinginflationaryandsupplychainpressures,butweseeencouragingprogressonanumberofcustomerexperiencedimensions,includingdeliveryspeedperformanceaswe’renowapproachinglevelsnotseensincethemonthsimmediatelyprecedingthepandemicinearly2020.” Highlights Shopping AmazonannouncedBuywithPrime,anewbenefitforPrimemembersintheU.S.thatextendstheconvenienceofshoppingwithPrimetoonlinestoresbeyondAmazon.com.Primememberscanshopdirectlyfromparticipatingmerchants’onlinestoresusingtheirPrimememberbenefits,includingfastandfreedelivery,aseamlesscheckoutexperience,andfreereturnsoneligibleorders. Thisyear,PrimeDaywilltakeplaceinJulyinmorethan20countries.DuringAmazon’sannualshoppingevent,Primememberswillbeabletosaveonproductsfromnationalbrandsandsmallbusinessesacrosseverycategory. Amazoncontinuedtoinventandexpandwaysforcustomerstodiscoverfashionproducts.Forexample,Viewin3DenablescustomersintheU.S.andCanadatoviewashoeatanyangle,andTheDropprovidescustomersworldwidewithaccesstolimited-edition,size-inclusiveclothingcollectionsbyfashioninfluencersglobally.AmazonalsolaunchedStyleFeed,ashoppablestreamofinfluencer-curatedcontentontheAmazonshoppingappforcustomersintheU.S.andIndiatoexplorefashion,homedécor,andbeautyitems. AmazonlaunchedAmazonAware,anewbrandofconsciouslycreatedeverydayproductsthatspanapparel,home,andbeauty,andthataremadefrommaterialssuchasrecycledpolyester,organiccotton,andbio-basedingredients.AllAmazonAwareproductsarecertifiedascarbonneutralandfeaturecertificationsthatarepartofAmazon’sClimatePledgeFriendlyprogram. AmazonopenedeightnewAmazonFreshgrocerystoresandnowhas46AmazonFreshgrocerystoresaroundtheworld.ThenewestAmazonFreshstoreinSeattleistheworld’sfirstgrocerystoreseekingZeroCarboncertificationfromtheInternationalFutureLivingInstituteandfeaturesmorethanadozenstoredesignupgradesexpectedtosavenearly185tonsofcarbonemissionseachyearwhencomparedtoanindustry-standardgrocerystore. Amazonopenedanew,largerAmazonGostoreformatforcustomersinsuburbanareasintheU.S.,withthefirstlocationinMillCreek,Washington.ThenewformatfeaturesAmazon’sJustWalkOuttechnologyforacheckout-freeshoppingexperience,anexpandedselectionofgrab-and-gofoodandbeverageitems,andaMade-to-Orderkitchenwithfreshlyprepared,customizablebreakfastandlunchitems.AmazonhasplanstoexpandthisformattotheLosAngelesareainthecomingmonths. Forthefirsttime,AmazonintroducedJustWalkOuttechnologyattwoWholeFoodsMarketstoresinWashington,D.C.,andShermanOaks,California.JustWalkOuttechnologyalsorolledoutatnewthird-partylocations,includingtravelretailerWHSmithinLaGuardiaAirportinNewYorkCity;UBSArenainNewYork;andMinuteMaidParkinHouston,Texas.Inaddition,afoodandbeveragestoreequippedwithJustWalkOuttechnologyandAmazonOnewillbeopeningsoonatT-MobileParkinSeattle.Thecombinationoftechnologieswillgivefanstheoptiontoenterthestorewiththeirpalmorcreditcard,takewhattheywant,andleavewithoutstoppingtocheckout. AmazonBusinesslaunchedPunch-in,anindustry-firstprocurementtoolthatsimplifiesthebuyingexperienceforbusinesses.WithPunch-in,businessescanstarttheirpurchasingdirectlyonAmazonBusinessandsubmittheircarttotheire-Procurementsystemforpurchaseordercreationandreconciliation. Entertainment AmazoncloseditsacquisitionofMGM,andMGMemployeesjoinedPrimeVideoandAmazonStudios.Thestoried,nearlycentury-oldstudiohasmorethan4,000filmtitles,17,000TVepisodes,180AcademyAwards,and100EmmyAwards.ThecatalogincludesfranchisefavoritessuchasJamesBond,Rocky,andLegallyBlonde,andclassicmoviessuchasThelma&Louise,TheSilenceoftheLambs,TheMagnificentSeven,andRagingBull.ThedealcomplementsPrimeVideoandAmazonStudios’workindeliveringadiverseslateoforiginalfilmsandTVshowstoaglobalaudienceandwillcreateevenmoreopportunitiestodeliverqualitystorytellingtocustomers. TheteasertrailerforTheLordoftheRings:TheRingsofPowerbrokeaglobalrecordforthemost-watchedentertainmenttrailertodebutduringaSuperBowltelecast,with257millionviewsgloballyinthefirst24hoursofitsrelease.Customerscontinuetowatchthetraileratwww.amazon.com/ringsofpower.TheLordoftheRings:TheRingsofPowerwilldebutFriday,September2,2022. IconicannouncerAlMichaelsandEmmy-winninganalystKirkHerbstreitarejoiningPrimeVideoasthevoicesforitsexclusivecoverageofNFLThursdayNightFootball.JoiningthemisexecutiveproducerFredGaudelli,whomarkshis33rdseasonastheleadproducerfortheNFLinprimetime.TheinauguralseasonofNFLThursdayNightFootballunderPrimeVideo’shistoric11-yearagreementkicksoffThursday,September15,2022. PrimeVideobecamethefirststreamingservicetoexclusivelycarryamajorawardsshowlivewiththe57thannualAcademyofCountryMusicAwards,whichairedonMarch7,2022.Amazoncreateda360-degreefanexperienceforcustomersacrossPrimeVideo,AmazonLive,AmazonMusic,AmazonFashion,IMDbTV,andTwitch. Reacher,PrimeVideo’snewdramaseriesstarringAlanRitchson,rankedonNielsen’soverallStreamingTop10listforthefirstthreeweeksofitspremiere,withaNo.1rankingandmorethan1.5billionminuteswatchedinitsfirstfullweekandsixconsecutiveweeksintheTop10StreamingOriginalslist.Thehitserieshasbeenrenewedforasecondseason.TheMarvelousMrs.MaiselalsolandedonNielsen’sStreamingTop10list,with499millionminutesviewedduringtheweekofitsSeasonFourpremiereandsixconsecutiveweeksintheTop10StreamingOriginalslist.AdditionalPrimeVideoseriesreleasesincludedthesecondseasonofGregDaniels’futuristiccomedyUpload,mysteryseriesOuterRangestarringJoshBrolin,andglobalsuperstarLizzo’sfirstseries,Lizzo’sWatchOutfortheBigGrrrls. PrimeVideodebuted30localoriginalsinternationally,includingnewseasonsoftheunscriptedfranchiseLOLinCanada,France,Germany,andItaly,aswellasLuxeListings(Australia),Mahaan(India),BangBangBaby(Italy),andHOMESTAY(Japan).NewlocallyproducedseriesandmovieslaunchedinArgentina,Australia,Brazil,Canada,France,Germany,India,Italy,Japan,Mexico,theNetherlands,Spain,andtheUK. OnApril27,IMDbTVbecameFreevee.Thenewnamebetterdefinesthebrandandwhatitofferscustomers—free,premiumstreamingcontent. AmazonlaunchedaU.S.betaversionofAmp,anewliveradioappthatenablescreatorstoDJtheirownshowsforfree,withtensofmillionsoflicensedsongs.Earlytractionwithemergingcreatorsandestablishedtalentisstrong—withliveshowsfromartists,includingPushaT,TravisBarker,Tinashe,LilYachty,andNikitaDragun—andtheAmpdebutofNickiMinaj’sQueenRadioiscomingsoon. AmazonMusicandWonderywonsixawards—includingPodcastoftheYear—atthepremierpodcastingeventoftheyear,TheAmbies.Theawardsspannedfouroriginalpodcasts:Suspect(BestTrueCrime),BusinessWars(BestBusinessPodcast),TheLead(BestSportsPodcast),and9/12(PodcastoftheYear,BestReporting,andBestOriginalScoreandMusicSupervision).ThiswasthesecondconsecutiveyearthataWonderypodcastwonPodcastoftheYear. LostArk,thefree-to-playmultiplayeronlinegame,exceeded20millionglobalusersandbecamethesecond-highestplayedtitleofalltimebypeakconcurrentplayersonthedistributionplatformSteam.PublishedbyAmazonGamesinAustralia,Europe,LatinAmerica,NewZealand,andNorthAmerica,thecriticallyacclaimedgamewasdevelopedbySmilegateRPG. AmazonannouncedthegeneralavailabilityofitsAmazonLunacloudgamingservice,whichoffersanexpandedlineupofgamesandnewfeatures.LunaincludestheRetroChannel,withbelovedclassicgames;theFamilyChannel,withacuratedcollectionofgamesforfamilies;andthePrimeGamingChannel,wherePrimememberscanaccessarotatingselectionofgamesonLunaforfree. AmazonannouncedthelaunchofMindy’sBookStudio,aboutiquestorystudiowithbest-sellingauthor,actor,screenwriter,andproducerMindyKaling.AmazonPublishingwillpublishbooksselectedbyKalingfromemergingandestablisheddiversevoicesunderMindy’sBookStudio.AmazonStudiosandKalingwillalsoadaptmaterialpublishedunderMindy’sBookStudioasfeaturemotionpicturesthatwillstreamexclusivelyonPrimeVideo. DevicesandServices AmazonlaunchednewAlexaexperiencesforcustomers.CustomerscannowaskAlexaaboutsymptomsforcommonhealthailmentsandpossiblecauses,andvirtuallyconnecttohealthcareprofessionalsthroughanewcollaborationwithTeladoc.Theycanalsoaccessmoreliveandon-demandvideocontentonEchoShow15throughanewintegrationwithSlingTV.Inaddition,AmazonintroducedanewAlexashoppingexperiencethatcannotifycustomersaboutupcomingdealsforitemsontheirwishlistorintheirshoppingcart,remindthemwhenadealisavailable,ororderanitemwhenitisdiscounted. AmazonintroducedAlexapersonandpackagedetectionannouncementsforRing,Abode,andGoogledevices.Withthenewfeature,customerscanreceiveanannouncementfromAlexa,setupaRoutinesuchasturningonaporchlight,andautomaticallyviewlivevideofeedsonEchoShow,FireTV,andFiretabletdeviceswhenapersonorpackageisdetectedbytheirsmartcameraorvideodoorbell. RinglaunchedinJapan,bringingitslineupofwhole-homesecuritydevices—includingvideodoorbells,indoorandoutdoorcameras,andaccessories—tothecountryforthefirsttime.Ringdevicesarenowavailableforsalein30countriesaroundtheworld. AmazonandYamadaHoldingsannouncedthefirstsmartTVwithAmazonFireTVbuilt-in,offeringacontent-drivenviewingexperience,asimpleandintuitiveuserinterface,Alexa,andhands-freeTVcontrolforcustomersinJapan. eeroannouncedtwonewadditionstotheeerofamilyofhomemeshwifisystemsthatwillgivecustomersfastconnectivityandhighperformanceinanyroomofthehouse:eeroPro6E,thefirstWi-Fi6E-enabledeerosystemdesignedforgigabit+internetplans;andeero6+,themostaffordablegigabit-capableeerosystem. EmergingBusinesses AmazonCare’svirtualhealthservicesarenowavailable24/7acrosstheU.S.Additionally,AmazonCareexpandeditsin-personservicestoAtlanta,Chicago,LosAngeles,Philadelphia,andSanFrancisco,andwilladdmorethan15othercitiesthisyear,includingHouston,Miami,NewYorkCity,andPhoenix.Theserviceprovidesimmediateaccesstoawiderangeofurgentandprimarycareservices,includingCOVID-19andflutesting,vaccinations,treatmentofillnessesandinjuries,preventivecare,sexualhealth,andprescriptionrequestsandrefills. AmazonannouncedagreementswithArianespace,BlueOrigin,andUnitedLaunchAlliancetoprovidelaunchservicesforProjectKuiper,Amazon’sinitiativetoincreaseglobalbroadbandaccessusingaconstellationofsatellitesinlowEarthorbit.Amazonsecuredupto83launchesacrossthethreecontracts,providingheavy-liftcapacitytolaunchthemajorityofAmazon’s3,236-satelliteconstellation.Theagreementscomprisethelargestcommercialprocurementoflaunchvehiclesinhistoryandwillsupportthousandsofsuppliersandhighlyskilledjobsacrosstheglobalspaceindustry. AmazonWebServices AWSannouncedsignificantcustomermomentum,withnewcommitmentsandmigrationsfromcustomersacrossmanymajorindustries. Telecommunications:T-Systems,aglobalserviceproviderforinformationtechnologiesanddigitaltransformation,selectedAWStolaunchamanagedserviceinthecloudtoprovideencryptionandimplementtransparentresidencycontrolsforcustomers’dataintheEU.Verizonmigrateditsfleetmanagementsoftwareplatform,VerizonConnect,toAWStohelpbusinessesofallsizesmoreeffectivelymanagetheircommercialtransportationneeds.SpanishtelecommunicationsproviderTelefónicaexpandeditsstrategiccollaborationwithAWStoinvestinjointgo-to-marketactivities,developnewcloudsolutions,andincreaseAWSCloudskillsamongtheTelefónicaworkforce.TelefónicawilluseAWStobringinnovationtocustomersfasterandhelpthembetterleveragetheagilityofthecloudbylaunchingvalue-addedsolutionssuchasedgecomputingandbuilt-for-the-cloudprivate5GnetworksthatrunonAWSOutposts.CommnetBroadband,abroadbandcommunicationsproviderfortribalandruralcommunitiesintheU.S.,isworkingwithAWStotransformitsnetworkandbringAWSservicestohealthcare,education,tribal,government,mining,business,andcarriercustomersintherural,southwestU.S.EtisalatUAE,atelecommunicationsproviderbasedintheUnitedArabEmirates,announcedacollaborationwithAWStouse5Gprivatenetworksandmobileedgecomputingtobuildprepackagedsolutionsforindustrialusecasesincludingenergy,manufacturing,andlogistics. Aerospace:Boeing,aglobalmanufacturerofairplanesandspacesystems,selectedAWSasastrategiccloudprovidertodelivertoolstosupportmorepowerful,sustainable,andefficientaerospacedesign,engineering,andmanagementsolutions.Boeingwillrunhigh-performancecomputingworkloadsonAWSandplanstomovemanyoftheirmostimportantapplicationstoAWS.BoeingwilluseAWStostreamlineitsapproachtocloudcomputingasBoeingtakesonambitiousengineeringfeats,likedevelopingamoresustainablefutureofflight. Sports:GermannationalfootballleagueBundesligaannouncednewBundesligaMatchFactspoweredbyAWStogivefansdeeperinsightsintotheactiononthepitch,includingSetPieceThreat,whichprovidesinformationonateam’sscoringabilityfromplayssuchasfreekicksandcornerkicks,andSkill,whichcomparesBundesligaplayerstovisualizetheskillstheybringtotheirteamsandpositions.TheNationalHockeyLeague(NHL)andAWSannouncedFace-offProbability,alivein-gamestatthatinstantlyshowstheoddsofaplayerwinningaface-offandpossessionofthepuck.MapleLeafSportsandEntertainment,theownerofsomeofCanada’sbest-knownsportsfranchises,includingtheTorontoMapleLeafs,TorontoRaptors,TorontoFootballClub,andTorontoArgonauts,selectedAWSasitsofficialcloudproviderandofficialproviderofartificialintelligence,machinelearning,anddeeplearningcloudservicestocreateanddeliverextraordinarysportsmomentsandenhancedfanengagement. Technology:DatabaseplatformMongoDBexpandeditsrelationshipwithAWS,makingiteasierforjointcustomerstoadvancetheircloudadoptionjourney.Thisincludesintegratedgo-to-marketactivities,shareddeveloperrelationsactivities,andtechnologyintegrationstostreamlinethemigrationofon-premisesworkloadstoMongoDBAtlasonAWS.Amdocs,aproviderofsoftwareandservicestocommunicationsandmediacompanies,usedAWStoimplementaprogramenabling12billionsecure,real-timeonlineandofflinebusinesstransactionsperdayinthecloud.TechMahindra,aproviderofdigitaltransformation,consulting,andbusinessreengineeringsolutions,selectedAWStopoweranautomationplatformdesignedtoacceleratetheadoptionanddeploymentof5Gnetworksbytelecommunicationscarriers. Healthcareandlifesciences:THREAD,aclinicaltrialstechnologyandserviceprovider,isusingAWSforreal-timeaccesstodataandinsightsthatwillenablefaster,moreefficient,andless-costlyclinicaltrialsthatoptimizeresearchandadvanceprecisionmedicine. AWScompletedthelaunchofitsfirst16LocalZonesintheU.S.andannouncedplansfornewLocalZonesin32metropolitanareasin26countriesaroundtheworld.AWSLocalZonesisatypeofinfrastructuredeploymentthatextendsAWSRegionstoplacecompute,storage,database,andotherAWSservicesattheedgeofthecloudnearlargepopulation,industry,andinformationtechnologycenters.ThesenewLocalZonesexpandAWS’sinfrastructurefootprintgloballybeyonditsexisting84AvailabilityZonesin26geographicregions,enablingAWScustomerstobuildapplicationsthatdeliversingle-digitmillisecondlatencyperformanceattheedgeofthecloudtohundredsofmillionsofpeopleworldwide. AWSannouncedthegeneralavailabilityofAmazonAuroraServerlessv2,thenextgenerationoftheAmazonAuroradatabasethatautomaticallyscalesinfine-grainedincrementsinafractionofasecond—providingcustomersupto90%costsavingscomparedtoprovisioningforpeakcapacity.AmazonAuroraServerlessv2alsoincludesAmazonAurora’scapabilitiesforhighavailability,performance,andresiliency,withlowlatencyandfasterquerying. AWSannouncedthegeneralavailabilityofAWSIoTTwinMaker,whichmakesitsignificantlyfasterandeasierfordeveloperstocreatedigitaltwinsofreal-worldsystemslikebuildings,factories,industrialequipment,andproductionlines—helpingmorecustomersbuildapplicationsthatimproveoperationalefficiencyandreducedowntime.Digitaltwinsarevirtualrepresentationsofphysicalsystemsthatareregularlyupdatedwithreal-worlddatatomimicthestructure,state,andbehavioroftheobjectstheyrepresent. AWSannouncedthegeneralavailabilityofAWSAmplifyStudio,anewvisualdevelopmentenvironmentforcreatingrichuserinterfacesthatextendsthebenefitsofAWSAmplifytomakeiteasierfordeveloperstocreatefullycustomizablewebapplicationswithminimalcodingindaysinsteadofweeks. InvestinginEmployeesandOurWorkplace Forthesecondyearinarow,AmazonrankedNo.1intheU.S.onLinkedIn’sannualTopCompanieslist,whichidentifiesthebestcompaniesforcareergrowthbasedontheirabilitytoattractandretainthebesttalent,includingthroughpromotions,opportunitiesforemployeesofallbackgroundstogainnewskills,companystability,andgenderdiversity. Forthesixthyearinarow,AmazonrankedNo.2onFortunemagazine’sWorld’sMostAdmiredCompanieslist,whichevaluatescorporatereputationbasedonfactorssuchasqualityofmanagementandproducts,commitmenttosocialresponsibility,andabilitytoattracttalent. AmazonachievedtheTopEmployerCertificationbytheTopEmployersInstitutefor2022inFrance,Italy,Poland,andSpaininrecognitionofAmazon’squalityworkenvironment,professionaldevelopmentopportunities,andprogramsavailabletoemployees.InIndia,AmazonrankedNo.1inBusinessTodaymagazine’s2022BestCompaniestoWorklist,whichhighlightsthecompany’sgrowthandlearningopportunities,clarityofcompanygoals,andflexibilityatwork. AmazonlaunchedtheWelcomeDoorprogramintheU.S.,anewinitiativetoprovideadditionalresourcesandsupporttoitsrefugeeandhumanitarian-basedimmigrantemployees.Throughtheprogram,eligibleAmazonemployeeswillhaveaccesstoreimbursementforEmploymentAuthorizationDocumentfees,anewcitizenshipassistanceportal,freelegalresources,EnglishasaSecondLanguageproficiencyprograms,andmentorship.Amazonwillexpandtheprogramgloballybytheendoftheyear. AmazonexpandeditsCareerChoiceprogramintheU.S.toincludepartnershipswithmorethan140nationalandlocaluniversitiesandotherschoolstoofferfullyfundedcollegetuition,highschoolcompletionandGEDpreparationcourses,EnglishasaSecondLanguageprograms,andcollegepreparationcourses.CareerChoiceisdesignedtohelpfront-lineemployeesgrowtheirskillsforcareersatAmazonorelsewhere.Thisprogram—whichisavailabletoAmazon’smorethan750,000hourlyemployeesintheU.S.—helpsmovethecompanyclosertomeetingitsUpskilling2025pledge,a$1.2billioncommitmenttoupskillmorethan300,000Amazonemployeesby2025. Amazonexpandeditsmentalhealthbenefitstoprovideemployees,theirfamilies,andtheirhouseholdmembersinmorethan50countriesworldwidewithasinglestartingpointforpersonalized,convenient,andconfidentialmentalhealthanddailylifesupport.Thesementalhealthbenefitsenhanceexistingbenefits,whichinclude24/7accesstofree,one-on-onecounselingsessions,suicidepreventionresources,andcustomizedsupport. SupportingCommunities,SellingPartners,andtheEconomy AmazonteamsaroundtheworldmobilizedtoprovidehumanitariansupporttothoseaffectedbythewarinUkraine.AmazonlaunchedtwohumanitarianaidhubsinSlovakiaandPoland,withmorethan90,000squarefeetofdedicatedlogisticsspacetoexpeditereliefproductstoUkrainianrefugees.Throughthehub,Amazonhasdeliveredmorethan1millionclothingitems,first-aidproducts,fooditems,hygieneproducts,andmedicalsupplies.Amazonalsodonatedmorethan$10millionincashtomorethan150nonprofitsworkingontheground,committedtechnologicalassistanceandmorethan$15millioninfreecloudcreditstoorganizationsaddressingthehumanitariancrisis,andprovidedfreelegalassistancetoorganizationshelpingrefugeesseekresettlementinEurope.Amazonalsopledgedtosupporttheimmediateandlonger-termneedsofUkrainianrefugeesbyjoiningtheTentPartnershipforRefugees,aglobalnonprofitandnetworkof200companiesthathelpsintegraterefugeesintonewcommunities. AmazonannouncedithasallocatedmorethanhalfoftheHousingEquityFund’s$2billioncommitmenttocreateandpreserveaffordablehousingforfamiliesinAmazon’shometowncommunitiesofthePugetSoundregionofWashingtonstate;theArlington,Virginia,region;andNashville,Tennessee.TheFundhasastrongfocusontransit-orientedaffordablehousingdevelopmentandrecentlyawardedfundstocreatemorethan1,000newaffordablehousingunitsonlandownedbytransitagenciesorprivatelyownedlandwithina10-minutewalktoqualitypublictransitstations. Amazonlauncheda$1billionventureinvestmentprogramcalledtheAmazonIndustrialInnovationFundtoempowercompaniesthataredevelopingemergingtechnologiesincustomerfulfillment,logistics,andthesupplychain.Startingwithfiverecipients,theFundwillinvestincompaniesimaginingsolutionsthatincrementallyincreasedeliveryspeedandfurtherimprovetheexperienceofemployeesworkinginwarehousingandlogisticsfields. AWSlaunchedathree-year,$30millioncommitmenttotheAWSImpactAccelerator,aseriesofprogramstohelpearly-stagestartupsledbyBlack,Latino,LGBTQIA+,andwomenfoundersbuildsuccessfulcompanies.Eachparticipatingstartupreceives$225,000incashandcredits,extensivetraining,mentoringandtechnicalguidance,aswellasintroductionstoAmazonleadersandteams,networkingopportunitieswithpotentialinvestors,andongoingadvisorysupport. TheArlingtonCountyBoardapprovedAmazon’sfinalplansforPenPlace,thenextphaseofthecompany’ssecondheadquartersinArlington,Virginia.Amazon’smorethan$2.5billioninvestmentinitsArlingtonheadquarterswillincludemorethan4.5acresofparkspace,twodogruns,andmorethan150,000squarefeetofretailandretail-equivalentspace(includingtwodaycarecenters),whichwillbeaccessibletotheentirecommunity.HQ2willbepoweredwith100%renewableenergythroughacombinationofoff-siteandon-sitesolarprojects.Amazonplanstocreate25,000directjobsinArlingtonoverthenextdecade,whichtogetherwiththecompany’sinvestmentinthesurroundingareawillhelpgeneratethousandsofindirectjobsacrosstheregion. AmazonFutureEngineer,thecompany’sglobalcomputerscienceeducationprogramforstudentsfromunderservedandhistoricallyunderrepresentedcommunities,awarded$40,000collegescholarshipsto250studentsacrosstheU.S.tostudycomputerscience.Sincelaunchingthisprogramfouryearsago,Amazonhasawarded$22millioninscholarshipsto550studentswhoarealsograntedpaidinternshipsatAmazon. AmazonintroducednewtoolsforsellersincludingNewSellerIncentives,asuiteofbenefits(suchasbonuses,credits,anddiscounts)worthmorethan$50,000inpotentialvalue,andthePerfectLaunchplaybook,atoolwithactionablestepsfornew-to-Amazonsellingpartners.Bothtoolshelppartnersgrowtheirbrand,scaletheirbusiness,andpromotetheirproductstohundredsofmillionsofAmazoncustomersworldwide. AmazonlaunchedRoadtoOwnership,a16-weekacceleratedtraininganddevelopmentprogramthathelpscreateapathwayfordeliveryassociatesandteammembersofexistingDeliveryServicePartners(DSP)tostarttheircareerasDSPsmallbusinessowners.TheprogramprovidesacomprehensiveunderstandingofoperatingaDSPbusinessandfostersbusinessacumen.Uponcompletion,participantsreceivea$30,000granttocoverstartupcostsandlivingexpenseswhiletheyestablishtheirbusiness. ProtectingthePlanet Amazonwelcomednearly100newsignatoriestoTheClimatePledge,includingHARMAN,Maersk,SAP,Sunrun,andWeyerhaeuser.Thenewsignatoriesbringthetotalnumberofcompaniesthathavepledgedtoachievenet-zerocarbonemissionsby2040tomorethan300.Pledgesignatoriesintotalgenerateover$3.5trillioninglobalannualrevenuesandhavemorethan8millionemployeesacross51industriesin29countries. AmazonisworkingwiththeU.S.DepartmentofEnergytoadvanceresearchonreducingplasticpollutionthroughinnovationinmaterialsandrecycling.TheeffortisledbytheNationalRenewableEnergyLaboratory,andAmazon’steamofmaterialsscientistsandexpertsisworkingwiththelaboratorytodeveloptechnologiesandmaterialsthatwillenablethefulllifecycleofplasticstobenet-zerocarbon. Amazonannounced37newrenewableenergyprojectsaroundtheworld,markingsignificantprogressonitsambitiouspathtopower100%ofcompanyoperationswithrenewableenergyby2025—fiveyearsaheadoftheoriginaltargetof2030.ThenewprojectsincreaseAmazon’stotalcapacitybynearly30%andreinforceAmazon’sleadershippositionastheworld’slargestcorporatebuyerofrenewableenergy,with310renewableenergyprojectsacross19countriesand15.7gigawattsofcleanenergycapacity—enoughelectricityoutputtopower3.9millionU.S.homesannually. InIndia,AmazonandSunMobility,alocalproviderofenergyinfrastructureandservicesforelectricvehicles(EVs),announcedanexpandeddeploymentofEVswithbattery-swappingtechnology,whicheliminatestheneedforlengthyrecharging.TheseEVswillbepartofAmazon’stransportationandlogisticsservices,andcontributetoAmazonIndia’scommitmentofadding10,000electricvehiclestoitsdeliveryfleetby2025. AspartofAWS’songoingcommitmenttohelpcustomersreducetheirenvironmentalimpactandreachtheirsustainabilitygoals,AWSlaunchedacarbonfootprinttoolthathelpscustomersquantifytheircarbonusageacrossAWSproducts.ThetoolgivesAWScustomersaviewoftheirhistoriccarbonemissions,evaluatesemissiontrendsastheiruseofAWSevolves,estimatesthecarbonemissionstheyhaveavoidedbyusingAWSinsteadofanon-premisessolution,andprojectsforecastedemissionsbasedoncurrentusage. FinancialGuidance Thefollowingforward-lookingstatementsreflectAmazon.com’sexpectationsasofApril28,2022,andaresubjecttosubstantialuncertainty.Ourresultsareinherentlyunpredictableandmaybemateriallyaffectedbymanyfactors,suchasuncertaintyregardingtheimpactsoftheCOVID-19pandemic,fluctuationsinforeignexchangerates,changesinglobaleconomicconditionsandcustomerdemandandspending,inflation,labormarketandglobalsupplychainconstraints,worldevents,therateofgrowthoftheInternet,onlinecommerce,andcloudservices,andthevariousfactorsdetailedbelow.ThisguidancereflectsourestimatesasofApril28,2022regardingtheimpactsoftheCOVID-19pandemiconouroperationsaswellastheeffectofotherfactorsdiscussedabove. SecondQuarter2022Guidance Netsalesareexpectedtobebetween$116.0billionand$121.0billion,ortogrowbetween3%and7%comparedwithsecondquarter2021.Thisguidanceanticipatesanunfavorableimpactofapproximately200basispointsfromforeignexchangerates. Operatingincome(loss)isexpectedtobebetween$(1.0)billionand$3.0billion,comparedwith$7.7billioninsecondquarter2021. ThisguidanceassumesthatPrimeDayoccursinthirdquarter2022. Thisguidanceassumes,amongotherthings,thatnoadditionalbusinessacquisitions,restructurings,orlegalsettlementsareconcluded. Aconferencecallwillbewebcastlivetodayat2:30p.m.PT/5:30p.m.ET,andwillbeavailableforatleastthreemonthsatamazon.com/ir.Thiscallwillcontainforward-lookingstatementsandothermaterialinformationregardingtheCompany’sfinancialandoperatingresults. Theseforward-lookingstatementsareinherentlydifficulttopredict.Actualresultsandoutcomescoulddiffermateriallyforavarietyofreasons,including,inadditiontothefactorsdiscussedabove,theamountthatAmazon.cominvestsinnewbusinessopportunitiesandthetimingofthoseinvestments,themixofproductsandservicessoldtocustomers,themixofnetsalesderivedfromproductsascomparedwithservices,theextenttowhichweoweincomeorothertaxes,competition,managementofgrowth,potentialfluctuationsinoperatingresults,internationalgrowthandexpansion,theoutcomesofclaims,litigation,governmentinvestigations,andotherproceedings,fulfillment,sortation,delivery,anddatacenteroptimization,risksofinventorymanagement,variabilityindemand,thedegreetowhichtheCompanyentersinto,maintains,anddevelopscommercialagreements,proposedandcompletedacquisitionsandstrategictransactions,paymentsrisks,andrisksoffulfillmentthroughputandproductivity.Otherrisksanduncertaintiesinclude,amongothers,risksrelatedtonewproducts,services,andtechnologies,systeminterruptions,governmentregulationandtaxation,andfraud.Inaddition,globaleconomicconditionsandadditionalorunforeseeneffectsfromtheCOVID-19pandemicamplifymanyoftheserisks.MoreinformationaboutfactorsthatpotentiallycouldaffectAmazon.com’sfinancialresultsisincludedinAmazon.com’sfilingswiththeSecuritiesandExchangeCommission(“SEC”),includingitsmostrecentAnnualReportonForm10-Kandsubsequentfilings. Ourinvestorrelationswebsiteisamazon.com/irandweencourageinvestorstouseitasawayofeasilyfindinginformationaboutus.Wepromptlymakeavailableonthiswebsite,freeofcharge,thereportsthatwefileorfurnishwiththeSEC,corporategovernanceinformation(includingourCodeofBusinessConductandEthics),andselectpressreleases,whichmaycontainmaterialinformationaboutus,andyoumaysubscribetobenotifiedofnewinformationpostedtothissite. AboutAmazon Amazonisguidedbyfourprinciples:customerobsessionratherthancompetitorfocus,passionforinvention,commitmenttooperationalexcellence,andlong-termthinking.AmazonstrivestobeEarth’sMostCustomer-CentricCompany,Earth’sBestEmployer,andEarth’sSafestPlacetoWork.Customerreviews,1-Clickshopping,personalizedrecommendations,Prime,FulfillmentbyAmazon,AWS,KindleDirectPublishing,Kindle,CareerChoice,Firetablets,FireTV,AmazonEcho,Alexa,JustWalkOuttechnology,AmazonStudios,andTheClimatePledgearesomeofthethingspioneeredbyAmazon.Formoreinformation,visitamazon.com/aboutandfollow@AmazonNews. AMAZON.COM,INC. ConsolidatedStatementsofCashFlows (inmillions) (unaudited)     ThreeMonthsEnded March31,   TwelveMonthsEnded March31,   2021   2022   2021   2022                 CASH,CASHEQUIVALENTS,ANDRESTRICTEDCASH,BEGINNINGOFPERIOD $ 42,377     $ 36,477     $ 27,505     $ 34,155   OPERATINGACTIVITIES:               Netincome(loss)   8,107       (3,844 )     26,903       21,413   Adjustmentstoreconcilenetincome(loss)tonetcashfromoperatingactivities:               Depreciationandamortizationofpropertyandequipmentandcapitalizedcontentcosts,operatingleaseassets,andother   7,508       8,978       27,397       35,766   Stock-basedcompensation   2,306       3,250       9,757       13,701   Otheroperatingexpense(income),net   30       215       (108 )     322   Otherexpense(income),net   (1,456 )     8,689       (4,603 )     (4,161 ) Deferredincometaxes   1,703       (2,001 )     827       (4,014 ) Changesinoperatingassetsandliabilities:               Inventories   (304 )     (2,614 )     (4,545 )     (11,797 ) Accountsreceivable,netandother   (2,255 )     (1,516 )     (11,686 )     (17,424 ) Accountspayable   (8,266 )     (9,380 )     17,258       2,488   Accruedexpensesandother   (4,060 )     (5,903 )     4,455       280   Unearnedrevenue   900       1,336       1,558       2,750   Netcashprovidedby(usedin)operatingactivities   4,213       (2,790 )     67,213       39,324   INVESTINGACTIVITIES:               Purchasesofpropertyandequipment   (12,082 )     (14,951 )     (45,427 )     (63,922 ) Proceedsfrompropertyandequipmentsalesandincentives   895       1,209       4,624       5,971   Acquisitions,netofcashacquired,andother   (630 )     (6,341 )     (2,864 )     (7,696 ) Salesandmaturitiesofmarketablesecurities   17,826       22,753       56,437       64,311   Purchasesofmarketablesecurities   (14,675 )     (1,764 )     (72,153 )     (47,246 ) Netcashprovidedby(usedin)investingactivities   (8,666 )     906       (59,383 )     (48,582 ) FINANCINGACTIVITIES:               Commonstockrepurchased   —       (2,666 )     —       (2,666 ) Proceedsfromshort-termdebt,andother   1,926       13,743       8,105       19,773   Repaymentsofshort-termdebt,andother   (2,001 )     (6,231 )     (7,547 )     (11,983 ) Proceedsfromlong-termdebt   111       —       10,560       18,892   Repaymentsoflong-termdebt   (39 )     —       (1,556 )     (1,551 ) Principalrepaymentsoffinanceleases   (3,406 )     (2,777 )     (11,448 )     (10,534 ) Principalrepaymentsoffinancingobligations   (67 )     (79 )     (103 )     (174 ) Netcashprovidedby(usedin)financingactivities   (3,476 )     1,990       (1,989 )     11,757   Foreigncurrencyeffectoncash,cashequivalents,andrestrictedcash   (293 )     16       809       (55 ) Netincrease(decrease)incash,cashequivalents,andrestrictedcash   (8,222 )     122       6,650       2,444   CASH,CASHEQUIVALENTS,ANDRESTRICTEDCASH,ENDOFPERIOD $ 34,155     $ 36,599     $ 34,155     $ 36,599   SUPPLEMENTALCASHFLOWINFORMATION:               Cashpaidforinterestondebt $ 276     $ 279     $ 902     $ 1,101   Cashpaidforoperatingleases   1,640       2,367       5,086       7,449   Cashpaidforinterestonfinanceleases   157       107       601       471   Cashpaidforinterestonfinancingobligations   33       58       113       178   Cashpaidforincometaxes,netofrefunds   801       453       2,209       3,340   Assetsacquiredunderoperatingleases   3,536       2,175       17,345       24,008   Propertyandequipmentacquiredunderfinanceleases   2,067       166       11,489       5,160   Propertyandequipmentacquiredunderbuild-to-suitarrangements   887       1,332       2,775       6,061   AMAZON.COM,INC. ConsolidatedStatementsofOperations (inmillions,exceptpersharedata) (unaudited)     ThreeMonthsEnded March31,   2021   2022         Netproductsales $ 57,491     $ 56,455   Netservicesales   51,027       59,989   Totalnetsales   108,518       116,444   Operatingexpenses:       Costofsales   62,403       66,499   Fulfillment   16,530       20,271   Technologyandcontent   12,488       14,842   Salesandmarketing   6,207       8,320   Generalandadministrative   1,987       2,594   Otheroperatingexpense(income),net   38       249   Totaloperatingexpenses   99,653       112,775   Operatingincome   8,865       3,669   Interestincome   105       108   Interestexpense   (399 )     (472 ) Otherincome(expense),net   1,697       (8,570 ) Totalnon-operatingincome(expense)   1,403       (8,934 ) Income(loss)beforeincometaxes   10,268       (5,265 ) Benefit(provision)forincometaxes   (2,156 )     1,422   Equity-methodinvestmentactivity,netoftax   (5 )     (1 ) Netincome(loss) $ 8,107     $ (3,844 ) Basicearningspershare $ 16.09     $ (7.56 ) Dilutedearningspershare $ 15.79     $ (7.56 ) Weighted-averagesharesusedincomputationofearningspershare:       Basic   504       509   Diluted   513       509   AMAZON.COM,INC. ConsolidatedStatementsofComprehensiveIncome (inmillions) (unaudited)     ThreeMonthsEnded March31,   2021   2022         Netincome(loss) $ 8,107     $ (3,844 ) Othercomprehensiveincome(loss):       Foreigncurrencytranslationadjustments,netoftaxof$13and$(16)   (374 )     (333 ) Netchangeinunrealizedgains(losses)onavailable-for-saledebtsecurities:       Unrealizedgains(losses),netoftaxof$30and$1   (98 )     (662 ) Reclassificationadjustmentforlosses(gains)includedin“Otherincome(expense),net,”netoftaxof$4and$0   (14 )     6   Netunrealizedgains(losses)onavailable-for-saledebtsecurities   (112 )     (656 ) Totalothercomprehensiveincome(loss)   (486 )     (989 ) Comprehensiveincome(loss) $ 7,621     $ (4,833 ) AMAZON.COM,INC. SegmentInformation (inmillions) (unaudited)     ThreeMonthsEnded March31,   2021   2022         NorthAmerica       Netsales $ 64,366     $ 69,244   Operatingexpenses   60,916       70,812   Operatingincome(loss) $ 3,450     $ (1,568 )         International       Netsales $ 30,649     $ 28,759   Operatingexpenses   29,397       30,040   Operatingincome(loss) $ 1,252     $ (1,281 )         AWS       Netsales $ 13,503     $ 18,441   Operatingexpenses   9,340       11,923   Operatingincome $ 4,163     $ 6,518           Consolidated       Netsales $ 108,518     $ 116,444   Operatingexpenses   99,653       112,775   Operatingincome   8,865       3,669   Totalnon-operatingincome(expense)   1,403       (8,934 ) Benefit(provision)forincometaxes   (2,156 )     1,422   Equity-methodinvestmentactivity,netoftax   (5 )     (1 ) Netincome(loss) $ 8,107     $ (3,844 )         SegmentHighlights:       Y/Ynetsalesgrowth(decline):       NorthAmerica   40 %     8 % International   60       (6 ) AWS   32       37   Consolidated   44       7   Netsalesmix:       NorthAmerica   59 %     59 % International   28       25   AWS   13       16   Consolidated   100 %     100 % AMAZON.COM,INC. ConsolidatedBalanceSheets (inmillions,exceptpersharedata) (unaudited)     December31,2021   March31,2022         ASSETS       Currentassets:       Cashandcashequivalents $ 36,220     $ 36,393   Marketablesecurities   59,829       29,992   Inventories   32,640       34,987   Accountsreceivable,netandother   32,891       32,504   Totalcurrentassets   161,580       133,876   Propertyandequipment,net   160,281       168,468   Operatingleases   56,082       56,161   Goodwill   15,371       20,229   Otherassets   27,235       32,033   Totalassets $ 420,549     $ 410,767   LIABILITIESANDSTOCKHOLDERS’EQUITY       Currentliabilities:       Accountspayable $ 78,664     $ 68,547   Accruedexpensesandother   51,775       58,141   Unearnedrevenue   11,827       12,820   Totalcurrentliabilities   142,266       139,508   Long-termleaseliabilities   67,651       65,731   Long-termdebt   48,744       47,556   Otherlong-termliabilities   23,643       23,971   Commitmentsandcontingencies       Stockholders’equity:       Preferredstock,$0.01parvalue:       Authorizedshares—500       Issuedandoutstandingshares—none   —       —   Commonstock,$0.01parvalue:       Authorizedshares—5,000       Issuedshares—532and533       Outstandingshares—509and509   5       5   Treasurystock,atcost   (1,837 )     (4,503 ) Additionalpaid-incapital   55,538       58,793   Accumulatedothercomprehensiveincome(loss)   (1,376 )     (2,365 ) Retainedearnings   85,915       82,071   Totalstockholders’equity   138,245       134,001   Totalliabilitiesandstockholders’equity $ 420,549     $ 410,767   AMAZON.COM,INC. SupplementalFinancialInformationandBusinessMetrics (inmillions,exceptpersharedata) (unaudited)     Q42020 Q12021 Q22021 Q32021 Q42021 Q12022 Y/Y% Change CashFlowsandShares               Operatingcashflow--trailingtwelvemonths(TTM) $ 66,064   $ 67,213   $ 59,322   $ 54,671   $ 46,327   $ 39,324   (41 )% Operatingcashflow--TTMY/Ygrowth(decline)   72 %   69 %   16 %   (1 )%   (30 )%   (41 )% N/A   Purchasesofpropertyandequipment,netofproceedsfromsalesandincentives--TTM $ 35,044   $ 40,803   $ 47,176   $ 52,119   $ 55,396   $ 57,951   42 % Principalrepaymentsoffinanceleases--TTM $ 10,642   $ 11,448   $ 11,435   $ 11,271   $ 11,163   $ 10,534   (8 )% Principalrepaymentsoffinancingobligations--TTM $ 53   $ 103   $ 116   $ 124   $ 162   $ 174   70 % Equipmentacquiredunderfinanceleases--TTM(1) $ 9,104   $ 8,936   $ 7,295   $ 5,738   $ 4,422   $ 2,764   (69 )% Principalrepaymentsofallotherfinanceleases--TTM(2) $ 427   $ 525   $ 550   $ 582   $ 687   $ 714   36 % Freecashflow--TTM(3) $ 31,020   $ 26,410   $ 12,146   $ 2,552   $ (9,069 ) $ (18,627 ) (171 )% Freecashflowlessprincipalrepaymentsoffinanceleasesandfinancingobligations --TTM(4) $ 20,325   $ 14,859   $ 595   $ (8,843 ) $ (20,394 ) $ (29,335 ) (297 )% Freecashflowlessequipmentfinanceleasesandprincipalrepaymentsofallotherfinanceleasesandfinancingobligations--TTM(5) $ 21,436   $ 16,846   $ 4,185   $ (3,892 ) $ (14,340 ) $ (22,279 ) (232 )% Commonsharesandstock-basedawardsoutstanding   518     519     522     523     523     523   1 % Commonsharesoutstanding   503     504     506     507     509     509   1 % Stock-basedawardsoutstanding   15     15     16     16     14     14   (3 )% Stock-basedawardsoutstanding--%ofcommonsharesoutstanding   3.0 %   2.9 %   3.1 %   3.1 %   2.8 %   2.8 % N/A   ResultsofOperations               Worldwide(WW)netsales $ 125,555   $ 108,518   $ 113,080   $ 110,812   $ 137,412   $ 116,444   7 % WWnetsales--Y/Ygrowth,excludingF/X   42 %   41 %   24 %   15 %   10 %   9 % N/A   WWnetsales--TTM $ 386,064   $ 419,130   $ 443,298   $ 457,965   $ 469,822   $ 477,748   14 % WWnetsales--TTMY/Ygrowth,excludingF/X   37 %   40 %   36 %   30 %   21 %   14 % N/A   Operatingincome $ 6,873   $ 8,865   $ 7,702   $ 4,852   $ 3,460   $ 3,669   (59 )% F/Ximpact--favorable(unfavorable) $ 142   $ 107   $ 7   $ (20 ) $ 57   $ 126   N/A   Operatingincome--Y/Ygrowth(decline),excludingF/X   74 %   120 %   32 %   (21 )%   (50 )%   (60 )% N/A   Operatingmargin--%ofWWnetsales   5.5 %   8.2 %   6.8 %   4.4 %   2.5 %   3.2 % N/A   Operatingincome--TTM $ 22,899   $ 27,775   $ 29,634   $ 28,292   $ 24,879   $ 19,683   (29 )% Operatingincome--TTMY/Ygrowth(decline),excludingF/X   54 %   93 %   73 %   41 %   8 %   (30 )% N/A   Operatingmargin--TTM%ofWWnetsales   5.9 %   6.6 %   6.7 %   6.2 %   5.3 %   4.1 % N/A   Netincome(loss) $ 7,222   $ 8,107   $ 7,778   $ 3,156   $ 14,323   $ (3,844 ) (147 )% Netincome(loss)perdilutedshare $ 14.09   $ 15.79   $ 15.12   $ 6.12   $ 27.75   $ (7.56 ) (148 )% Netincome--TTM $ 21,331   $ 26,903   $ 29,438   $ 26,263   $ 33,364   $ 21,413   (20 )% Netincomeperdilutedshare--TTM $ 41.83   $ 52.59   $ 57.47   $ 51.14   $ 64.81   $ 41.54   (21 )% ______________________________ (1) ForthetwelvemonthsendedMarch31,2021and2022,thisamountrelatestoequipmentincludedin“Propertyandequipmentacquiredunderfinanceleases”of$11,489millionand$5,160million. (2) ForthetwelvemonthsendedMarch31,2021and2022,thisamountrelatestopropertyincludedin“Principalrepaymentsoffinanceleases”of$11,448millionand$10,534million. (3) Freecashflowiscashflowfromoperationsreducedby“Purchasesofpropertyandequipment,netofproceedsfromsalesandincentives.” (4) Freecashflowlessprincipalrepaymentsoffinanceleasesandfinancingobligationsisfreecashflowreducedby“Principalrepaymentsoffinanceleases”and“Principalrepaymentsoffinancingobligations.” (5) Freecashflowlessequipmentfinanceleasesandprincipalrepaymentsofallotherfinanceleasesandfinancingobligationsisfreecashflowreducedbyequipmentacquiredunderfinanceleases,whichisincludedin“Propertyandequipmentacquiredunderfinanceleases,”principalrepaymentsofallotherfinanceleaseliabilities,whichisincludedin“Principalrepaymentsoffinanceleases,”and“Principalrepaymentsoffinancingobligations.” AMAZON.COM,INC. SupplementalFinancialInformationandBusinessMetrics (inmillions) (unaudited)     Q42020 Q12021 Q22021 Q32021 Q42021 Q12022 Y/Y% Change Segments               NorthAmericaSegment:               Netsales $ 75,346   $ 64,366   $ 67,550   $ 65,557   $ 82,360   $ 69,244   8 % Netsales--Y/Ygrowth,excludingF/X   40 %   39 %   21 %   10 %   9 %   8 % N/A   Netsales--TTM $ 236,282   $ 254,521   $ 266,635   $ 272,819   $ 279,833   $ 284,711   12 % Operatingincome(loss) $ 2,946   $ 3,450   $ 3,147   $ 880   $ (206 ) $ (1,568 ) (145 )% F/Ximpact--favorable $ 7   $ 8   $ 34   $ 14   $ 32   $ 42   N/A   Operatingincome(loss)--Y/Ygrowth(decline),excludingF/X   55 %   162 %   45 %   (62 )%   (108 )%   (147 )% N/A   Operatingmargin--%ofNorthAmericanetsales   3.9 %   5.4 %   4.7 %   1.3 %   (0.2 )%   (2.3 )% N/A   Operatingincome--TTM $ 8,651   $ 10,789   $ 11,795   $ 10,423   $ 7,271   $ 2,253   (79 )% Operatingmargin--TTM%ofNorthAmericanetsales   3.7 %   4.2 %   4.4 %   3.8 %   2.6 %   0.8 % N/A   InternationalSegment:               Netsales $ 37,467   $ 30,649   $ 30,721   $ 29,145   $ 37,272   $ 28,759   (6 )% Netsales--Y/Ygrowth,excludingF/X   50 %   50 %   26 %   15 %   3 %   0 % N/A   Netsales--TTM $ 104,412   $ 115,955   $ 124,008   $ 127,982   $ 127,787   $ 125,897   9 % Operatingincome(loss) $ 363   $ 1,252   $ 362   $ (911 ) $ (1,627 ) $ (1,281 ) (202 )% F/Ximpact--favorable(unfavorable) $ 232   $ 270   $ 199   $ 24   $ (58 ) $ (79 ) N/A   Operatingincome(loss)--Y/Ygrowth(decline),excludingF/X   N/A     347 %   (53 )%   (330 )%   (533 )%   (196 )% N/A   Operatingmargin--%ofInternationalnetsales   1.0 %   4.1 %   1.2 %   (3.1 )%   (4.4 )%   (4.5 )% N/A   Operatingincome(loss)--TTM $ 717   $ 2,367   $ 2,384   $ 1,066   $ (924 ) $ (3,457 ) (246 )% Operatingmargin--TTM%ofInternationalnetsales   0.7 %   2.0 %   1.9 %   0.8 %   (0.7 )%   (2.7 )% N/A   AWSSegment:               Netsales $ 12,742   $ 13,503   $ 14,809   $ 16,110   $ 17,780   $ 18,441   37 % Netsales--Y/Ygrowth,excludingF/X   28 %   32 %   37 %   39 %   40 %   37 % N/A   Netsales--TTM $ 45,370   $ 48,654   $ 52,655   $ 57,164   $ 62,202   $ 67,140   38 % Operatingincome $ 3,564   $ 4,163   $ 4,193   $ 4,883   $ 5,293   $ 6,518   57 % F/Ximpact--favorable(unfavorable) $ (96 ) $ (171 ) $ (226 ) $ (58 ) $ 83   $ 163   N/A   Operatingincome--Y/Ygrowth,excludingF/X   41 %   41 %   32 %   40 %   46 %   53 % N/A   Operatingmargin--%ofAWSnetsales   28.0 %   30.8 %   28.3 %   30.3 %   29.8 %   35.3 % N/A   Operatingincome--TTM $ 13,531   $ 14,619   $ 15,455   $ 16,803   $ 18,532   $ 20,887   43 % Operatingmargin--TTM%ofAWSnetsales   29.8 %   30.0 %   29.4 %   29.4 %   29.8 %   31.1 % N/A   AMAZON.COM,INC. SupplementalFinancialInformationandBusinessMetrics (inmillions,exceptemployeedata) (unaudited)     Q42020 Q12021 Q22021 Q32021 Q42021 Q12022 Y/Y% Change NetSales               Onlinestores(1) $ 66,451   $ 52,901   $ 53,157   $ 49,942   $ 66,075   $ 51,129   (3 )% Onlinestores--Y/Ygrowth(decline),excludingF/X   43 %   41 %   13 %   3 %   1 %   (1 )% N/A   Physicalstores(2) $ 4,022   $ 3,920   $ 4,198   $ 4,269   $ 4,688   $ 4,591   17 % Physicalstores--Y/Ygrowth(decline),excludingF/X   (7 )%   (16 )%   10 %   12 %   16 %   16 % N/A   Third-partysellerservices(3) $ 27,327   $ 23,709   $ 25,085   $ 24,252   $ 30,320   $ 25,335   7 % Third-partysellerservices--Y/Ygrowth,excludingF/X   54 %   60 %   34 %   18 %   12 %   9 % N/A   Subscriptionservices(4) $ 7,061   $ 7,580   $ 7,917   $ 8,148   $ 8,123   $ 8,410   11 % Subscriptionservices--Y/Ygrowth,excludingF/X   34 %   34 %   28 %   23 %   16 %   13 % N/A   Advertisingservices(5) $ 7,350   $ 6,381   $ 7,451   $ 7,612   $ 9,716   $ 7,877   23 % Advertisingservices--Y/Ygrowth,excludingF/X   66 %   76 %   88 %   52 %   33 %   25 % N/A   AWS $ 12,742   $ 13,503   $ 14,809   $ 16,110   $ 17,780   $ 18,441   37 % AWS--Y/Ygrowth,excludingF/X   28 %   32 %   37 %   39 %   40 %   37 % N/A   Other(6) $ 602   $ 524   $ 463   $ 479   $ 710   $ 661   26 % Other--Y/Ygrowth,excludingF/X   42 %   49 %   34 %   15 %   19 %   28 % N/A                   Stock-basedCompensationExpense               Costofsales $ 91   $ 90   $ 145   $ 126   $ 179   $ 146   63 % Fulfillment $ 364   $ 342   $ 566   $ 473   $ 565   $ 498   46 % Technologyandcontent $ 1,412   $ 1,228   $ 1,887   $ 1,627   $ 1,903   $ 1,645   34 % Salesandmarketing $ 476   $ 456   $ 691   $ 657   $ 726   $ 665   46 % Generalandadministrative $ 219   $ 190   $ 302   $ 297   $ 307   $ 296   56 % Totalstock-basedcompensationexpense $ 2,562   $ 2,306   $ 3,591   $ 3,180   $ 3,680   $ 3,250   41 % Other               WWshippingcosts $ 21,465   $ 17,162   $ 17,747   $ 18,108   $ 23,656   $ 19,560   14 % WWshippingcosts--Y/Ygrowth   67 %   57 %   30 %   20 %   10 %   14 % N/A   WWpaidunits--Y/Ygrowth(7)   47 %   44 %   15 %   8 %   3 %   0 % N/A   WWsellerunitmix--%ofWWpaidunits(7)   55 %   55 %   56 %   56 %   56 %   55 % N/A   Employees(full-timeandpart-time;excludescontractors&temporarypersonnel)   1,298,000     1,271,000     1,335,000     1,468,000     1,608,000     1,622,000   28 % Employees(full-timeandpart-time;excludescontractors&temporarypersonnel)--Y/Ygrowth   63 %   51 %   52 %   30 %   24 %   28 % N/A   ________________________ (1) Includesproductsalesanddigitalmediacontentwherewerecordrevenuegross.Weleverageourretailinfrastructuretoofferawideselectionofconsumableanddurablegoodsthatincludesmediaproductsavailableinbothaphysicalanddigitalformat,suchasbooks,videos,games,music,andsoftware.Theseproductsalesincludedigitalproductssoldonatransactionalbasis.Digitalproductsubscriptionsthatprovideunlimitedviewingorusagerightsareincludedin“Subscriptionservices.” (2) Includesproductsaleswhereourcustomersphysicallyselectitemsinastore.Salestocustomerswhoordergoodsonlinefordeliveryorpickupatourphysicalstoresareincludedin“Onlinestores.” (3) Includescommissionsandanyrelatedfulfillmentandshippingfees,andotherthird-partysellerservices. (4) IncludesannualandmonthlyfeesassociatedwithAmazonPrimememberships,aswellasdigitalvideo,audiobook,digitalmusic,e-book,andothernon-AWSsubscriptionservices. (5) Includessalesofadvertisingservicestosellers,vendors,publishers,authors,andothers,throughprogramssuchassponsoredads,display,andvideoadvertising. (6) Includessalesrelatedtovariousotherserviceofferings. (7) ExcludestheimpactofWholeFoodsMarket. Amazon.com,Inc. CertainDefinitions CustomerAccounts Referencestocustomersmeancustomeraccountsestablishedwhenacustomerplacesanorderthroughoneofourstores.Customeraccountsexcludecertaincustomers,includingcustomersassociatedwithcertainofouracquisitions,AmazonPaymentscustomers,AWScustomers,andthecustomersofselectcompanieswithwhomwehaveatechnologyallianceormarketingandpromotionalrelationship.Customersareconsideredactivewhentheyhaveplacedanorderduringtheprecedingtwelve-monthperiod. SellerAccounts Referencestosellersmeansselleraccounts,whichareestablishedwhenasellerreceivesanorderfromacustomeraccount.Sellersareconsideredactivewhentheyhavereceivedanorderfromacustomerduringtheprecedingtwelve-monthperiod. AWSCustomers ReferencestoAWScustomersmeanuniqueAWScustomeraccounts,whichareuniquecustomeraccountIDsthatareeligibletouseAWSservices.ThisincludesAWSaccountsintheAWSfreetier.MultipleusersaccessingAWSservicesviaoneaccountIDarecountedasasingleaccount.CustomersareconsideredactivewhentheyhavehadAWSusageactivityduringtheprecedingone-monthperiod. Units Referencestounitsmeanphysicalanddigitalunitssold(netofreturnsandcancellations)byusandsellersinourstoresaswellasAmazon-owneditemssoldinotherstores.UnitssoldarepaidunitsanddonotincludeunitsassociatedwithAWS,certainacquisitions,certainsubscriptions,rentalbusinesses,oradvertisingbusinesses,orAmazongiftcards.   Viewsourceversiononbusinesswire.com: https://www.businesswire.com/news/home/20220427006081/en/ AmazonInvestorRelations DaveFildes,[email protected]/ir AmazonPublicRelations DanPerlet,[email protected]/prSource:Amazon.com,Inc. 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