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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Amazon.com Inc | NASDAQ:AMZN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.45 | 3.71% | 180.12 | 179.86 | 182.00 | 180.82 | 176.13 | 177.85 | 43,919,843 | 05:00:04 |
Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2022.
Fourth Quarter 2022
Full Year 2022
“Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations—and we’re appreciative of all our customers who turned to Amazon this past holiday season,” said Andy Jassy, Amazon CEO. “We’re also encouraged by the continued progress we’re making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon. The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years. When you also factor in our investments and innovation in several other broad customer experiences (e.g. streaming entertainment, customer-first healthcare, broadband satellite connectivity for more communities globally), there’s additional reason to feel optimistic about what the future holds.”
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 providers. For example, in the fourth 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 February 2, 2023, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as uncertainty regarding the impacts of the COVID-19 pandemic, 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 and global supply chain constraints, world events, the rate of growth of the Internet, online commerce, and cloud services, and the various factors detailed below.
First 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 December 31,
Twelve Months Ended December 31,
2021
2022
2021
2022
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD
$
30,177
$
35,178
$
42,377
$
36,477
OPERATING ACTIVITIES:
Net income (loss)
14,323
278
33,364
(2,722
)
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
9,867
12,685
34,433
41,921
Stock-based compensation
3,680
5,606
12,757
19,621
Other expense (income), net
(11,932
)
3,445
(14,306
)
16,966
Deferred income taxes
(3,623
)
(3,367
)
(310
)
(8,148
)
Changes in operating assets and liabilities:
Inventories
(1,915
)
3,180
(9,487
)
(2,592
)
Accounts receivable, net and other
(6,556
)
(8,788
)
(18,163
)
(21,897
)
Accounts payable
7,989
9,852
3,602
2,945
Accrued expenses and other
9,333
5,777
2,123
(1,558
)
Unearned revenue
920
505
2,314
2,216
Net cash provided by (used in) operating activities
22,086
29,173
46,327
46,752
INVESTING ACTIVITIES:
Purchases of property and equipment
(18,935
)
(16,592
)
(61,053
)
(63,645
)
Proceeds from property and equipment sales and incentives
2,465
1,152
5,657
5,324
Acquisitions, net of cash acquired, and other
(381
)
(831
)
(1,985
)
(8,316
)
Sales and maturities of marketable securities
12,537
5,683
59,384
31,601
Purchases of marketable securities
(8,266
)
(233
)
(60,157
)
(2,565
)
Net cash provided by (used in) investing activities
(12,580
)
(10,821
)
(58,154
)
(37,601
)
FINANCING ACTIVITIES:
Common stock repurchased
—
—
—
(6,000
)
Proceeds from short-term debt, and other
2,667
10,607
7,956
41,553
Repayments of short-term debt, and other
(2,659
)
(15,797
)
(7,753
)
(37,554
)
Proceeds from long-term debt
200
8,235
19,003
21,166
Repayments of long-term debt
(1,001
)
(1,257
)
(1,590
)
(1,258
)
Principal repayments of finance leases
(2,260
)
(1,640
)
(11,163
)
(7,941
)
Principal repayments of financing obligations
(47
)
(62
)
(162
)
(248
)
Net cash provided by (used in) financing activities
(3,100
)
86
6,291
9,718
Foreign currency effect on cash, cash equivalents, and restricted cash
(106
)
637
(364
)
(1,093
)
Net increase (decrease) in cash, cash equivalents, and restricted cash
6,300
19,075
(5,900
)
17,776
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD
$
36,477
$
54,253
$
36,477
$
54,253
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt
$
367
$
629
$
1,098
$
1,561
Cash paid for operating leases
1,693
2,365
6,722
8,633
Cash paid for interest on finance leases
114
84
521
374
Cash paid for interest on financing obligations
37
55
153
207
Cash paid for income taxes, net of refunds
334
1,695
3,688
6,035
Assets acquired under operating leases
5,808
4,769
25,369
18,800
Property and equipment acquired under finance leases, net of remeasurements and modifications
1,608
317
7,061
675
Property and equipment recognized during the construction period of build-to-suit lease arrangements
1,969
310
5,846
3,187
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating
55
1,851
230
5,158
AMAZON.COM, INC.
Consolidated Statements of Operations
(in millions, except per share data)
(unaudited)
Three Months Ended December 31,
Twelve Months Ended December 31,
2021
2022
2021
2022
Net product sales
$
71,416
$
70,531
$
241,787
$
242,901
Net service sales
65,996
78,673
228,035
271,082
Total net sales
137,412
149,204
469,822
513,983
Operating expenses:
Cost of sales
82,835
85,640
272,344
288,831
Fulfillment
22,445
23,103
75,111
84,299
Technology and content
15,313
20,814
56,052
73,213
Sales and marketing
10,810
12,818
32,551
42,238
General and administrative
2,525
3,333
8,823
11,891
Other operating expense (income), net
24
759
62
1,263
Total operating expenses
133,952
146,467
444,943
501,735
Operating income
3,460
2,737
24,879
12,248
Interest income
118
445
448
989
Interest expense
(482
)
(694
)
(1,809
)
(2,367
)
Other income (expense), net
11,838
(3,450
)
14,633
(16,806
)
Total non-operating income (expense)
11,474
(3,699
)
13,272
(18,184
)
Income (loss) before income taxes
14,934
(962
)
38,151
(5,936
)
Benefit (provision) for income taxes
(612
)
1,227
(4,791
)
3,217
Equity-method investment activity, net of tax
1
13
4
(3
)
Net income (loss)
$
14,323
$
278
$
33,364
$
(2,722
)
Basic earnings per share
$
1.41
$
0.03
$
3.30
$
(0.27
)
Diluted earnings per share
$
1.39
$
0.03
$
3.24
$
(0.27
)
Weighted-average shares used in computation of earnings per share:
Basic
10,157
10,220
10,117
10,189
Diluted
10,324
10,308
10,296
10,189
AMAZON.COM, INC.
Consolidated Statements of Comprehensive Income (Loss)
(in millions)
(unaudited)
Three Months Ended December 31,
Twelve Months Ended December 31,
2021
2022
2021
2022
Net income (loss)
$
14,323
$
278
$
33,364
$
(2,722
)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $12, $(36), $47, and $100
(67
)
2,075
(819
)
(2,586
)
Net change in unrealized gains (losses) on available-for-sale debt securities:
Unrealized gains (losses), net of tax of $41, $162, $72, and $159
(234
)
272
(343
)
(823
)
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0, $0, $13, and $0
—
281
(34
)
298
Net unrealized gains (losses) on available-for-sale debt securities
(234
)
553
(377
)
(525
)
Total other comprehensive income (loss)
(301
)
2,628
(1,196
)
(3,111
)
Comprehensive income (loss)
$
14,022
$
2,906
$
32,168
$
(5,833
)
AMAZON.COM, INC.
Segment Information
(in millions)
(unaudited)
Three Months Ended December 31,
Twelve Months Ended December 31,
2021
2022
2021
2022
North America
Net sales
$
82,360
$
93,363
$
279,833
$
315,880
Operating expenses
82,566
93,603
272,562
318,727
Operating income (loss)
$
(206
)
$
(240
)
$
7,271
$
(2,847
)
International
Net sales
$
37,272
$
34,463
$
127,787
$
118,007
Operating expenses
38,899
36,691
128,711
125,753
Operating loss
$
(1,627
)
$
(2,228
)
$
(924
)
$
(7,746
)
AWS
Net sales
$
17,780
$
21,378
$
62,202
$
80,096
Operating expenses
12,487
16,173
43,670
57,255
Operating income
$
5,293
$
5,205
$
18,532
$
22,841
Consolidated
Net sales
$
137,412
$
149,204
$
469,822
$
513,983
Operating expenses
133,952
146,467
444,943
501,735
Operating income
3,460
2,737
24,879
12,248
Total non-operating income (expense)
11,474
(3,699
)
13,272
(18,184
)
Benefit (provision) for income taxes
(612
)
1,227
(4,791
)
3,217
Equity-method investment activity, net of tax
1
13
4
(3
)
Net income (loss)
$
14,323
$
278
$
33,364
$
(2,722
)
Segment Highlights:
Y/Y net sales growth (decline):
North America
9
%
13
%
18
%
13
%
International
(1
)
(8
)
22
(8
)
AWS
40
20
37
29
Consolidated
9
9
22
9
Net sales mix:
North America
60
%
63
%
60
%
61
%
International
27
23
27
23
AWS
13
14
13
16
Consolidated
100
%
100
%
100
%
100
%
AMAZON.COM, INC.
Consolidated Balance Sheets
(in millions, except per share data)
(unaudited)
December 31, 2021
December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents
$
36,220
$
53,888
Marketable securities
59,829
16,138
Inventories
32,640
34,405
Accounts receivable, net and other
32,891
42,360
Total current assets
161,580
146,791
Property and equipment, net
160,281
186,715
Operating leases
56,082
66,123
Goodwill
15,371
20,288
Other assets
27,235
42,758
Total assets
$
420,549
$
462,675
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
78,664
$
79,600
Accrued expenses and other
51,775
62,566
Unearned revenue
11,827
13,227
Total current liabilities
142,266
155,393
Long-term lease liabilities
67,651
72,968
Long-term debt
48,744
67,150
Other long-term liabilities
23,643
21,121
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; 10,644 and 10,757 shares issued; 10,175 and 10,242 shares outstanding)
106
108
Treasury stock, at cost
(1,837
)
(7,837
)
Additional paid-in capital
55,437
75,066
Accumulated other comprehensive income (loss)
(1,376
)
(4,487
)
Retained earnings
85,915
83,193
Total stockholders’ equity
138,245
146,043
Total liabilities and stockholders’ equity
$
420,549
$
462,675
AMAZON.COM, INC.
Supplemental Financial Information and Business Metrics
(in millions, except per share data)
(unaudited)
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Y/Y % Change
Cash Flows and Shares
Operating cash flow -- trailing twelve months (TTM)
$
54,671
$
46,327
$
39,324
$
35,574
$
39,665
$
46,752
1
%
Operating cash flow -- TTM Y/Y growth (decline)
(1
)%
(30
)%
(41
)%
(40
)%
(27
)%
1
%
N/A
Purchases of property and equipment, net of proceeds from sales and incentives -- TTM
$
52,119
$
55,396
$
57,951
$
59,061
$
59,351
$
58,321
5
%
Principal repayments of finance leases -- TTM
$
11,271
$
11,163
$
10,534
$
9,789
$
8,561
$
7,941
(29
)%
Principal repayments of financing obligations -- TTM
$
124
$
162
$
174
$
205
$
233
$
248
53
%
Equipment acquired under finance leases -- TTM (1)
$
5,738
$
4,422
$
2,764
$
1,621
$
868
$
299
(93
)%
Principal repayments of all other finance leases -- TTM (2)
$
582
$
687
$
714
$
751
$
706
$
670
(3
)%
Free cash flow -- TTM (3)
$
2,552
$
(9,069
)
$
(18,627
)
$
(23,487
)
$
(19,686
)
$
(11,569
)
28
%
Free cash flow less principal repayments of finance leases and financing obligations -- TTM (4)
$
(8,843
)
$
(20,394
)
$
(29,335
)
$
(33,481
)
$
(28,480
)
$
(19,758
)
(3
)%
Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations -- TTM (5)
$
(3,892
)
$
(14,340
)
$
(22,279
)
$
(26,064
)
$
(21,493
)
$
(12,786
)
(11
)%
Common shares and stock-based awards outstanding
10,451
10,455
10,454
10,551
10,597
10,627
2
%
Common shares outstanding
10,139
10,175
10,171
10,183
10,198
10,242
1
%
Stock-based awards outstanding
311
280
283
368
399
384
37
%
Stock-based awards outstanding -- % of common shares outstanding
3.1
%
2.8
%
2.8
%
3.6
%
3.9
%
3.8
%
N/A
Results of Operations
Worldwide (WW) net sales
$
110,812
$
137,412
$
116,444
$
121,234
$
127,101
$
149,204
9
%
WW net sales -- Y/Y growth, excluding F/X
15
%
10
%
9
%
10
%
19
%
12
%
N/A
WW net sales -- TTM
$
457,965
$
469,822
$
477,748
$
485,902
$
502,191
$
513,983
9
%
WW net sales -- TTM Y/Y growth, excluding F/X
30
%
21
%
14
%
11
%
12
%
13
%
N/A
Operating income
$
4,852
$
3,460
$
3,669
$
3,317
$
2,525
$
2,737
(21
)%
F/X impact -- favorable (unfavorable)
$
(20
)
$
57
$
126
$
165
$
357
$
213
N/A
Operating income -- Y/Y decline, excluding F/X
(21
)%
(50
)%
(60
)%
(59
)%
(55
)%
(27
)%
N/A
Operating margin -- % of WW net sales
4.4
%
2.5
%
3.2
%
2.7
%
2.0
%
1.8
%
N/A
Operating income -- TTM
$
28,292
$
24,879
$
19,683
$
15,298
$
12,971
$
12,248
(51
)%
Operating income -- TTM Y/Y growth (decline), excluding F/X
41
%
8
%
(30
)%
(49
)%
(57
)%
(54
)%
N/A
Operating margin -- TTM % of WW net sales
6.2
%
5.3
%
4.1
%
3.1
%
2.6
%
2.4
%
N/A
Net income (loss)
$
3,156
$
14,323
$
(3,844
)
$
(2,028
)
$
2,872
$
278
(98
)%
Net income (loss) per diluted share
$
0.31
$
1.39
$
(0.38
)
$
(0.20
)
$
0.28
$
0.03
(98
)%
Net income (loss) -- TTM
$
26,263
$
33,364
$
21,413
$
11,607
$
11,323
$
(2,722
)
(108
)%
Net income (loss) per diluted share -- TTM
$
2.56
$
3.24
$
2.08
$
1.13
$
1.10
$
(0.27
)
(108
)%
______________________________
(1)
For the twelve months ended December 31, 2021 and 2022, this amount relates to equipment included in “Property and equipment acquired under finance leases, net of remeasurements and modifications” of $7,061 million and $675 million.
(2)
For the twelve months ended December 31, 2021 and 2022, this amount relates to property included in “Principal repayments of finance leases” of $11,163 million and $7,941 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)
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Y/Y % Change
Segments
North America Segment:
Net sales
$
65,557
$
82,360
$
69,244
$
74,430
$
78,843
$
93,363
13
%
Net sales -- Y/Y growth, excluding F/X
10
%
9
%
8
%
10
%
20
%
14
%
N/A
Net sales -- TTM
$
272,819
$
279,833
$
284,711
$
291,591
$
304,877
$
315,880
13
%
Operating income (loss)
$
880
$
(206
)
$
(1,568
)
$
(627
)
$
(412
)
$
(240
)
17
%
F/X impact -- favorable
$
14
$
32
$
42
$
61
$
95
$
76
N/A
Operating income (loss) -- Y/Y growth (decline), excluding F/X
(62
)%
(108
)%
(147
)%
(122
)%
(158
)%
53
%
N/A
Operating margin -- % of North America net sales
1.3
%
(0.2
)%
(2.3
)%
(0.8
)%
(0.5
)%
(0.3
)%
N/A
Operating income (loss) -- TTM
$
10,423
$
7,271
$
2,253
$
(1,521
)
$
(2,813
)
$
(2,847
)
(139
)%
Operating margin -- TTM % of North America net sales
3.8
%
2.6
%
0.8
%
(0.5
)%
(0.9
)%
(0.9
)%
N/A
International Segment:
Net sales
$
29,145
$
37,272
$
28,759
$
27,065
$
27,720
$
34,463
(8
)%
Net sales -- Y/Y growth (decline), excluding F/X
15
%
3
%
0
%
(1
)%
12
%
5
%
N/A
Net sales -- TTM
$
127,982
$
127,787
$
125,897
$
122,241
$
120,816
$
118,007
(8
)%
Operating loss
$
(911
)
$
(1,627
)
$
(1,281
)
$
(1,771
)
$
(2,466
)
$
(2,228
)
37
%
F/X impact -- favorable (unfavorable)
$
24
$
(58
)
$
(79
)
$
(231
)
$
(216
)
$
(331
)
N/A
Operating loss -- Y/Y growth (decline), excluding F/X
(330
)%
(533
)%
(196
)%
(526
)%
147
%
17
%
N/A
Operating margin -- % of International net sales
(3.1
)%
(4.4
)%
(4.5
)%
(6.5
)%
(8.9
)%
(6.5
)%
N/A
Operating income (loss) -- TTM
$
1,066
$
(924
)
$
(3,457
)
$
(5,590
)
$
(7,145
)
$
(7,746
)
738
%
Operating margin -- TTM % of International net sales
0.8
%
(0.7
)%
(2.7
)%
(4.6
)%
(5.9
)%
(6.6
)%
N/A
AWS Segment:
Net sales
$
16,110
$
17,780
$
18,441
$
19,739
$
20,538
$
21,378
20
%
Net sales -- Y/Y growth, excluding F/X
39
%
40
%
37
%
33
%
28
%
20
%
N/A
Net sales -- TTM
$
57,164
$
62,202
$
67,140
$
72,070
$
76,498
$
80,096
29
%
Operating income
$
4,883
$
5,293
$
6,518
$
5,715
$
5,403
$
5,205
(2
)%
F/X impact -- favorable (unfavorable)
$
(58
)
$
83
$
163
$
335
$
478
$
468
N/A
Operating income -- Y/Y growth (decline), excluding F/X
40
%
46
%
53
%
28
%
1
%
(10
)%
N/A
Operating margin -- % of AWS net sales
30.3
%
29.8
%
35.3
%
29.0
%
26.3
%
24.3
%
N/A
Operating income -- TTM
$
16,803
$
18,532
$
20,887
$
22,409
$
22,929
$
22,841
23
%
Operating margin -- TTM % of AWS net sales
29.4
%
29.8
%
31.1
%
31.1
%
30.0
%
28.5
%
N/A
AMAZON.COM, INC.
Supplemental Financial Information and Business Metrics
(in millions, except employee data)
(unaudited)
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Y/Y % Change
Net Sales
Online stores (1)
$
49,942
$
66,075
$
51,129
$
50,855
$
53,489
$
64,531
(2
)%
Online stores -- Y/Y growth (decline), excluding F/X
3
%
1
%
(1
)%
0
%
13
%
2
%
N/A
Physical stores (2)
$
4,269
$
4,688
$
4,591
$
4,721
$
4,694
$
4,957
6
%
Physical stores -- Y/Y growth, excluding F/X
12
%
16
%
16
%
13
%
10
%
6
%
N/A
Third-party seller services (3)
$
24,252
$
30,320
$
25,335
$
27,376
$
28,666
$
36,339
20
%
Third-party seller services -- Y/Y growth, excluding F/X
18
%
12
%
9
%
13
%
23
%
24
%
N/A
Subscription services (4)
$
8,148
$
8,123
$
8,410
$
8,716
$
8,903
$
9,189
13
%
Subscription services -- Y/Y growth, excluding F/X
23
%
16
%
13
%
14
%
14
%
17
%
N/A
Advertising services (5)
$
7,612
$
9,716
$
7,877
$
8,757
$
9,548
$
11,557
19
%
Advertising services -- Y/Y growth, excluding F/X
52
%
33
%
25
%
21
%
30
%
23
%
N/A
AWS
$
16,110
$
17,780
$
18,441
$
19,739
$
20,538
$
21,378
20
%
AWS -- Y/Y growth, excluding F/X
39
%
40
%
37
%
33
%
28
%
20
%
N/A
Other (6)
$
479
$
710
$
661
$
1,070
$
1,263
$
1,253
77
%
Other -- Y/Y growth, excluding F/X
15
%
19
%
28
%
135
%
168
%
80
%
N/A
Stock-based Compensation Expense
Cost of sales
$
126
$
179
$
146
$
213
$
190
$
208
16
%
Fulfillment
$
473
$
565
$
498
$
763
$
727
$
757
34
%
Technology and content
$
1,627
$
1,903
$
1,645
$
2,814
$
3,036
$
3,126
64
%
Sales and marketing
$
657
$
726
$
665
$
990
$
1,128
$
1,092
51
%
General and administrative
$
297
$
307
$
296
$
429
$
475
$
423
38
%
Total stock-based compensation expense
$
3,180
$
3,680
$
3,250
$
5,209
$
5,556
$
5,606
52
%
Other
WW shipping costs
$
18,108
$
23,656
$
19,560
$
19,304
$
19,942
$
24,714
4
%
WW shipping costs -- Y/Y growth
20
%
10
%
14
%
9
%
10
%
4
%
N/A
WW paid units -- Y/Y growth (7)
8
%
3
%
0
%
1
%
11
%
8
%
N/A
WW seller unit mix -- % of WW paid units (7)
56
%
56
%
55
%
57
%
58
%
59
%
N/A
Employees (full-time and part-time; excludes contractors & temporary personnel)
1,468,000
1,608,000
1,622,000
1,523,000
1,544,000
1,541,000
(4
)%
Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth (decline)
30
%
24
%
28
%
14
%
5
%
(4
)%
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 and shipping services, and our co-branded credit card agreements.
(7)
Excludes the impact of Whole Foods Market.
Amazon.com, Inc. Certain Definitions
Customer Accounts
Seller Accounts
AWS Customers
Units
View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005991/en/
Amazon Investor Relations Dave Fildes, amazon-ir@amazon.com amazon.com/ir
Amazon Public Relations Dan Perlet, amazon-pr@amazon.com amazon.com/pr
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