Amazon is a global technology company that operates in various sectors, including e-commerce, cloud computing, and digital streaming. The company organizes its business activities into three main segments: North America, International, and Amazon Web Services (AWS), serving a wide range of customers such as consumers, sellers, developers, enterprises, content creators, advertisers, and employees . Amazon's diverse product lines include online and physical retail stores, third-party seller services, advertising services, subscription services, and AWS, which provides on-demand technology services .
- Online Stores - Offers a wide range of products and digital media content through its e-commerce platform.
- Third-Party Seller Services - Provides a marketplace for sellers, including services like commissions and fulfillment.
- Amazon Web Services (AWS) - Delivers on-demand cloud computing and technology services to businesses and developers.
- Advertising Services - Sells advertising space and services to various clients, enhancing their visibility and reach.
- Subscription Services - Includes offerings like Amazon Prime and digital content subscriptions, providing exclusive benefits and content.
- Physical Stores - Operates retail locations where customers can purchase items directly in-store.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrew R. Jassy Executive | President and Chief Executive Officer | Trustee and sponsor of Rainier Scholars; Chair and founding member of Rainier Prep | Joined Amazon in 1997, founded and led AWS, became CEO in July 2021. | View Report → |
Brian T. Olsavsky Executive | Senior Vice President and Chief Financial Officer | None mentioned | Joined Amazon in 2002, became CFO in June 2015. | |
David A. Zapolsky Executive | Senior Vice President, Global Public Policy and General Counsel | None mentioned | Joined Amazon in 2002, held various legal roles, became Senior Vice President, Global Public Policy and General Counsel in May 2023. | |
Douglas J. Herrington Executive | CEO of Worldwide Amazon Stores | None mentioned | Joined Amazon in 2005, held leadership roles in Consumables and North America Consumer divisions, became CEO of Worldwide Amazon Stores in July 2022. | |
Matthew S. Garman Executive | CEO of Amazon Web Services | None mentioned | Joined Amazon in 2005, held various leadership roles in AWS, became CEO of AWS in June 2024. | View Report → |
Shelley L. Reynolds Executive | Vice President, Worldwide Controller, and Principal Accounting Officer | None mentioned | Serving as Vice President, Worldwide Controller, and Principal Accounting Officer since April 2007. | |
Andrew Y. Ng Board | Director | Managing General Partner, AI Fund LP; Founder, DeepLearning.AI LLC; Founder and CEO, Landing AI, Inc.; Chairman and Co-Founder, Coursera, Inc.; Adjunct Professor, Stanford University | Director since April 2024, expertise in AI and education. | |
Brad D. Smith Board | Director | Director of Humana Inc.; President of Marshall University | Director since September 2023, former President and CEO of Intuit. | |
Daniel P. Huttenlocher Board | Director | Dean of MIT Schwarzman College of Computing; Director of Corning Incorporated | Director since September 2016, expertise in AI and technology. | |
Edith W. Cooper Board | Director | Director of PepsiCo, Inc.; Trustee of the Museum of Modern Art; Member of the Museum Council of the Smithsonian National Museum of African American History and Culture; Trustee of Mount Sinai Health Systems, Institute for Health Equity Research | Director since September 2021, co-founder of Medley Living, Inc.. | |
Indra K. Nooyi Board | Director | Director of Royal Philips; Trustee of Memorial Sloan Kettering Cancer Center; Trustee of the National Gallery of Art; Trustee of The Asia Society; Director of Partnership for Public Service; Member of the Dean’s Advisory Council at MIT’s School of Engineering | Director since February 2019, former Chair and CEO of PepsiCo. | |
Jamie S. Gorelick Board | Director | Partner at Wilmer Cutler Pickering Hale and Dorr LLP; Director at VeriSign, Inc.; Chair of the Urban Institute | Director since February 2012, Chair of the Nominating and Corporate Governance Committee. | |
Jeffrey P. Bezos Board | Executive Chair | Executive Chair of the Bezos Earth Fund; Founder of the Bezos Day One Fund; Founder of Blue Origin; Owner of The Washington Post | Founded Amazon in 1994, served as CEO until July 2021, currently Executive Chair. | |
Jonathan J. Rubinstein Board | Director | Lead director of Robinhood Markets, Inc. | Director since December 2010, extensive experience in leadership and technology. | |
Keith B. Alexander Board | Director | Former CEO, President, and Chair of IronNet, Inc. | Director since September 2020, Chair of the Security Committee. | |
Patricia Q. Stonesifer Board | Director | Trustee of The Rockefeller Foundation; Vice Chair of the Board of Directors of Co-Impact; Emeritus Member of the Museum Council of the Smithsonian National Museum of African American History and Culture; Member of the Board of Advisors of TheDream.US | Director since February 1997, extensive leadership experience. | |
Wendell P. Weeks Board | Director | Chairman and CEO of Corning Incorporated; Board of Trustees for the Corning Museum of Glass; Board of Trustees for the Institute for Advanced Study; Liveris Academy Honorary Board; White House Advisory Committee for Trade Policy and Negotiations | Director since February 2016, extensive experience in innovation and technology. |
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With the significant increase in AI-related workloads driving AWS demand, how is Amazon addressing the current capacity constraints in AWS, especially given the ongoing shortage of high-performance chips like NVIDIA's GPUs, and how might this impact your ability to meet customer demand in the near term?
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AWS operating margins have seen fluctuations due to the level of investments; can you provide more clarity on how the increased spending on AI infrastructure and custom silicon like Trainium and Inferentia will impact AWS profitability in the coming quarters?
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You mentioned a shift towards lower average selling price (ASP) items and consumers being more price-conscious; how does this trend affect your overall retail margins, and what strategies are in place to ensure profitability despite the potential pressure from increased sales of lower ASP products?
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The third-party seller unit mix declined slightly in Q3, which is unusual; can you explain the specific factors contributing to this shift, and what steps are you taking to support third-party sellers and potentially reverse this trend?
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While international segment operating income has improved, emerging markets may still be facing challenges; can you elaborate on the specific initiatives being undertaken to drive profitability in these regions, and what hurdles do you anticipate in aligning international margins with North America over time?
Research analysts who have asked questions during AMAZON COM earnings calls.
Brian Nowak
Morgan Stanley
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Douglas Anmuth
JPMorgan Chase & Co.
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Justin Post
Bank of America Corporation
4 questions for AMZN
Colin Sebastian
Baird
3 questions for AMZN
Eric Sheridan
Goldman Sachs
3 questions for AMZN
Mark Mahaney
Evercore ISI
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Ron Josey
Citigroup Inc.
2 questions for AMZN
Brent Thill
Jefferies
1 question for AMZN
John Blackledge
TD Cowen
1 question for AMZN
Michael Morton
MoffettNathanson
1 question for AMZN
Ross Sandler
Barclays
1 question for AMZN
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
1Life Healthcare, Inc. (One Medical) | 2023 | Amazon acquired 1Life Healthcare for approximately $3.5 billion in cash, with $1.3 billion allocated to intangible assets and $2.5 billion to goodwill to enhance its healthcare offerings including 24/7 virtual care and in-office visits. |
MGM Holdings Inc. | 2022 | Amazon acquired MGM Holdings on March 17, 2022, for about $6.1 billion net, assuming $2.5 billion in debt and obtaining assets such as a $3.4 billion video content portfolio and $4.9 billion in goodwill to strengthen its digital media content and streaming services. |
Recent press releases and 8-K filings for AMZN.
- Amazon Pharmacy will debut electronic prescription drug kiosks at select One Medical offices in Los Angeles in December 2025, enabling onsite pickup of common medications
- Kiosks will stock location-specific essential drugs but will exclude refrigerated and tightly regulated prescriptions such as controlled pain medicines and GLP-1 weight-loss drugs
- This marks Amazon Pharmacy’s first in-person prescription pickup service since its acquisitions of PillPack in 2018 and One Medical in 2022
- Patients, including non-members, can consult virtually with a company pharmacist at the kiosk, providing remote clinical support
- Amazon plans to expand the kiosk program beyond California in 2026 and explore partnerships with other health systems to broaden access
- Amazon introduced Amazon Grocery, merging its Fresh and Happy Belly lines into a private-label collection of over 1,000 items, most priced under $5, available online and at Amazon Fresh stores.
- Packaging redesign cuts plastic usage by up to 50% and highlights bold typography with clear nutrition information, underscoring sustainability and transparency efforts.
- Initial product lineup includes refrigerated pizza dough, bottled spring water, bakery cinnamon rolls, with plans to add frozen meals, pie fillings, granola, and expanded deli and frozen offerings.
- Analysts see the launch as a strategic move to boost market share and margins by reducing reliance on third-party suppliers, noting historical private-label expansions have driven 5–7% stock gains post-announcement.
- Amazon introduced Amazon Grocery, a unified private label brand featuring over 1,000 high-quality food items rated 4 stars or above, combining Amazon Fresh and Happy Belly offerings.
- The new assortment spans fresh produce, dairy, meat, seafood and pantry staples, with most items priced under $5 to meet consumer value expectations.
- Customers purchased 15% more Amazon private-brand products in 2024 versus 2023 across Amazon.com, Whole Foods Market and Amazon Fresh, underscoring strong momentum in private label growth.
- Amazon Grocery products are available online at Amazon.com and Amazon Fresh, as well as in Amazon Fresh and Whole Foods Market stores nationwide.
- Amazon has entered a multi-year partnership with FanDuel to become the official odds provider for NBA and WNBA broadcasts on Prime Video.
- The deal introduces an opt-in personalized bet tracking feature that displays fans’ active NBA bets in real time during live games on Prime Video.
- An immersive Odds View overlay will rotate live odds, lines and probabilities for moneylines, spreads, totals, props and more during broadcasts.
- Blake Griffin will serve as a brand ambassador in on-air integrations and creative campaigns, leveraging FanDuel’s market-leading sportsbook insights.
- The partnership underscores responsible gaming, allowing users to disable tracking features and set limits through FanDuel’s tools.
- Amazon Prime Video has struck a multi-year partnership with FanDuel as the official odds provider for NBA and WNBA coverage, debuting as an NBA broadcaster with 67 games in the 2025–26 season starting October 21, replacing TNT.
- Viewers will gain access to new interactive features including an Odds View overlay showing live odds, spreads and player props, and the ability to link FanDuel and Prime accounts to track bets live on screen.
- Additional fan engagement tools include a customizable Multiview, Key Moments and Rapid Recap features, designed to balance interactivity with a clutter-free broadcast.
- The partnership also opens up unique sponsorship opportunities such as premium in-studio brand placements, virtual executions, in-game integrations and highlight presenting sponsorships.
- Amazon agrees to a $2.5 billion settlement, split into $1 billion civil penalty and $1.5 billion in customer refunds.
- About 35 million Prime subscribers are eligible for average refunds of $51 each, with Amazon not admitting wrongdoing.
- Prime memberships generated more than $44 billion in revenue last year and Amazon has an estimated 200 million U.S. Prime users.
- Settlement bars deceptive dark patterns for enrollment and cancellation, mandates clear opt-outs and equal steps for signup/cancellation, and requires compliance monitoring; separate FTC antitrust litigation continues.
- Zoox is seeking NHTSA approval to operate up to 2,500 fully autonomous vehicles without traditional controls like steering wheels and pedals.
- The filing requests exemptions from safety standards on windshield wipers, defogging systems, and occupant crash protection, extending beyond its prior research-only approvals.
- Zoox launched a fully autonomous ride-hailing service on the Las Vegas Strip in September 2025 and has a California facility able to produce 10,000 robotaxis annually.
- To broaden its service footprint, Zoox opened a San Francisco waitlist and is considering expansions to Miami and Austin, leveraging new regulatory easing for U.S. AV firms.
- Amazon is shuttering all 19 of its Amazon Fresh grocery stores in the UK, putting around 250 jobs at risk as it shifts focus to its online grocery business.
- The company will convert five Fresh locations into Whole Foods stores and plans to expand to 12 Whole Foods outlets in the UK by the end of next year.
- Amazon is enhancing its online grocery offering through partnerships with Morrisons, Co-op, Iceland, and Gopuff, with fresh groceries set to be available on its site starting in 2026.
- The firm remains committed to the UK market and intends to offer affected employees alternative roles within the organization.
- FTC alleges deceptive “dark patterns” enrolled nearly 40 million consumers into Prime without proper consent and obstructed cancellations
- Internal documents suggest executives intentionally designed “nudge” enrollments, and FTC names three senior executives, accusing Amazon of violating ROSCA
- Trial could impose civil penalties, require customer refunds, and bar misleading subscription tactics
- Amazon maintains financial strength with $2.47 trillion market cap, 9.3% 3-year revenue growth, 11.37% operating margin, and Altman Z-Score of 6.08
- The FTC has launched investigations into Amazon and Google’s search advertising practices to determine if they misled advertisers on ad pricing and terms.
- The probe is examining whether Amazon failed to disclose reserve pricing—price floors in real-time ad auctions.
- Amazon’s advertising services contribute 5% to 10% of its total income, supplementing its retail and AWS revenues.
- The inquiry underscores broader regulatory scrutiny of transparency and fairness in digital advertising markets.