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Amazon (AMZN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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Amazon (AMZN - Free Report) reported $167.7 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 13.3%. EPS of $1.68 for the same period compares to $1.23 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $162.31 billion, representing a surprise of +3.32%. The company delivered an EPS surprise of +26.32%, with the consensus EPS estimate being $1.33.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Amazon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Subscription services Y/Y Change: 11% compared to the 9.2% average estimate based on seven analysts.
  • Third-party seller services Y/Y Change: 10% versus the six-analyst average estimate of 8.3%.
  • Online stores Y/Y Change: 10% compared to the 6.1% average estimate based on six analysts.
  • Headcount - Total: 1,546,000 versus 1,586,220 estimated by two analysts on average.
  • Net Sales- AWS: $30.87 billion compared to the $30.66 billion average estimate based on 12 analysts. The reported number represents a change of +17.5% year over year.
  • Net Sales- Physical stores: $5.6 billion versus the 10-analyst average estimate of $5.48 billion. The reported number represents a year-over-year change of +7.5%.
  • Net Sales- Online stores: $61.49 billion versus the nine-analyst average estimate of $58.76 billion. The reported number represents a year-over-year change of +11%.
  • Net Sales- Subscription services: $12.21 billion versus the nine-analyst average estimate of $11.91 billion. The reported number represents a year-over-year change of +12.4%.
  • Net Sales- Advertising services: $15.69 billion compared to the $14.9 billion average estimate based on nine analysts. The reported number represents a change of +22.9% year over year.
  • Net Sales- Third-party seller services: $40.35 billion versus $38.93 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
  • Net Sales- International: $36.76 billion versus the eight-analyst average estimate of $33.87 billion. The reported number represents a year-over-year change of +16.1%.
  • Net Sales- North America: $100.07 billion versus $97.82 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.

View all Key Company Metrics for Amazon here>>>

Shares of Amazon have returned +4.7% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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