---
title: "Amazon (AMZN) Revenue & Earnings History"
description: "Amazon annual revenue and earnings history from 2015 to 2025. AWS revenue, operating margin, net income, and the 2022 loss explained."
canonical: https://www.getswoopr.com/tables/company/amazon-revenue-earnings-history/
source: "Swoopr Investment: https://www.getswoopr.com"
---

## Direct Answer



> Amazon reported $717 billion in revenue for 2025 and $638 billion for 2024. Net income rose from a $2.7 billion loss in 2022 to $30.4 billion in 2023, $59.2 billion in 2024 and $77.7 billion in 2025, driven by AWS profitability, cost-cutting, and advertising growth. AWS alone generated $128.7 billion in 2025 with a 35% operating margin, subsidizing the retail business.








# Amazon (AMZN) Annual Revenue and Earnings History



## Amazon annual revenue, net income, AWS revenue, and operating margin (2015-2025)



| Year | Revenue (B) | Net Income (B) | AWS Revenue (B) | Op. Margin |
| --- | --- | --- | --- | --- |
| 2015 | $107 | $0.6 | $7.9 | 2.1% |
| 2017 | $178 | $3.0 | $17.5 | 2.3% |
| 2018 | $233 | $10.1 | $25.7 | 5.3% |
| 2019 | $281 | $11.6 | $35.0 | 5.2% |
| 2020 | $386 | $21.3 | $45.4 | 5.9% |
| 2021 | $470 | $33.4 | $62.2 | 5.3% |
| 2022 | $514 | -$2.7 | $80.1 | 2.4% |
| 2023 | $575 | $30.4 | $91.0 | 6.4% |
| 2024 | $638 | $59.2 | $107.6 | 10.8% |
| 2025 | $717 | $77.7 | $128.7 | 11.2% |

![Line chart of Amazon annual revenue, net income, AWS revenue, and operating margin (2015-2025), 2015 to 2025, with 2 series. Revenue (B) starts at $107, peaks at $717 in 2025, falls to a low of $107 in 2015 and ends at $717 in 2025.](https://www.getswoopr.com/images/charts/tables-company-amazon-revenue-earnings-history-1.webp)
*Amazon annual revenue, net income, AWS revenue, and operating margin (2015-2025), charted from the table above. Select the chart to open it full size.*



Source: [Amazon Investor Relations Annual Reports](https://ir.aboutamazon.com/annual-reports-and-proxies/). Note: 2022 net loss largely reflects Rivian equity write-down. Last verified: October 2026, 2022 onward checked against Amazon's SEC filings.



## Frequently asked questions



How does Amazon make money if retail has thin margins?

Amazon operates multiple distinct business units with very different profitability profiles. AWS (cloud computing) generates 30%+ operating margins and was approximately $100 billion revenue in 2024. Advertising (sponsored product listings, display ads) generates 50-60%+ margins and exceeded $47 billion in 2023. Third-party seller services (marketplace fees, fulfillment) generate high margins on low capital. These high-margin segments subsidize the retail business, which operates near breakeven. The combined result: Amazon can price aggressively in retail while generating overall operating margins of 6-10%.



What caused Amazon's 2022 loss?

Amazon reported a GAAP net loss of $2.7 billion in 2022, largely from a $12.7 billion write-down in its equity stake in Rivian Automotive (which fell from $18 billion to $5.3 billion as Rivian's stock declined). Operationally, Amazon had over-invested in warehouse and logistics capacity during the pandemic e-commerce surge, then faced demand normalization in 2022. AWS growth also slowed as customers optimized cloud spending. Excluding the Rivian write-down, operating income was approximately $12 billion. 2023 recovered strongly as cost cuts took effect.



Is AWS Amazon's most important business?

By profitability, yes. AWS generates approximately 70% of Amazon's total operating income despite being only approximately 16-17% of total revenue. Advertising generates another 20-25% of operating income. The retail segments (North America, International) collectively generate very thin margins and depend on AWS and advertising cross-subsidization for the overall business to generate strong returns on equity. Amazon has positioned itself as a technology infrastructure company that also operates large retail operations.







## Cite This Page



If you reference this table in your own work, use the following citation format and add the date you accessed it:



> Swoopr Editorial Team. (2026). *Amazon (AMZN) Annual Revenue and Earnings History*. Swoopr Investment. [https://www.getswoopr.com/tables/company/amazon-revenue-earnings-history/](https://www.getswoopr.com/tables/company/amazon-revenue-earnings-history/)



Check the figures against the primary sources listed under References before you rely on or republish them; the series they come from are revised.







## References



- [Amazon: Investor Relations Annual Reports](https://ir.aboutamazon.com/annual-reports-and-proxies/)







[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) produces independent investment education and research content.



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