Amazon's Quiet Repricing

  • Amazon reported Q1 FY25 revenue of $165.7 billion, up 10% YoY excluding forex, led by strong retail and AWS growth. Operating income rose 20% YoY to $18.4 billion, supported by improved cost controls despite heavy AI and logistics investments. AWS revenue hit $29.3 billion (+17% YoY) with 40% margins, reaching a $117 billion annualized run rate and expanding AI offerings.