Amazon (AMZN) Q4 Earnings Report 2025

Amazon Shares of the company fell more than 10% in extended trading on Thursday posted Mixed fourth-quarter earnings, and raised its full-year spending forecast to $200 billion.

Here’s how the company fared compared to estimates from analysts surveyed by LSEG:

• Earnings per share: $1.95 vs. $1.97 approx
• Revenue: $213.39 billion vs $211.33 billion estimated

Wall Street was also looking at other key earnings numbers:

• Amazon Web Services: $35.58 billion versus $34.93 billion expected, according to StreetAccount
• Advertisement: $21.32 billion versus $21.16 billion expected, according to StreetAccount

Amazon said it expects capital spending to continue rising this year as it aggressively invests in data centers and other infrastructure to meet growth in artificial intelligence demand.

The company projected capex to reach $200 billion this year, while analysts were expecting $146.6 billion, according to FactSet.

“With such strong demand for our current offerings and key opportunities such as AI, chips, robotics, low earth orbit satellites, we expect to invest approximately $200 billion in capital expenditures at Amazon in 2026 and expect a long-term return on invested capital,” CEO Andy Jassy said in a statement.

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