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
5 questions for AMZN
Douglas Anmuth
JPMorgan Chase & Co.
5 questions for AMZN
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
3 questions for AMZN
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 $4.9 billion in goodwill to strengthen its digital media content and streaming services. |
Recent press releases and 8-K filings for AMZN.
- Amazon Web Services déploie une nouvelle région Asie-Pacifique (Nouvelle-Zélande) avec trois zones de disponibilité, portant son réseau à 120 zones dans 38 régions à l’échelle mondiale.
- Amazon prévoit d’investir plus de 7,5 milliards NZ$, de soutenir en moyenne plus de 1 000 emplois à plein temps et d’ajouter environ 10,8 milliards NZ$ annuels au produit national brut de la Nouvelle-Zélande.
- La région, dès son lancement, sera alimentée par des énergies renouvelables via un projet de ferme éolienne à Turitea South en partenariat avec Mercury NZ, soutenant l’objectif zéro émission nette d’Amazon d’ici 2040.
- Amazon will unify Whole Foods Market, Amazon Fresh, and Amazon Go corporate teams under a single pay and benefits structure by end of 2026, granting Whole Foods corporate employees Amazon-style benefits (10% Amazon.com discount, full benefits portal) while temporarily retaining in-store discounts.
- Annual bonuses for Whole Foods corporate staff will be replaced with Amazon stock grants as part of the integration.
- Amazon is investing over $4 billion to expand its delivery network by end of 2026 to enhance fast grocery delivery in small towns and rural areas.
- The integration aims to streamline collaboration, reduce duplication, and boost efficiency as Amazon competes with major grocers like Walmart and Kroger.
- Q2 earnings beat revenue and EPS expectations, but Q3 outlook fell short of analyst forecasts, prompting investor caution.
- AWS remains a core strength, though cloud results disappointed, with reluctance to buy NVIDIA chips contributing to a $100 billion market value loss.
- Management highlighted momentum from AI product launches (Kiro, Agent Core), Prime membership growth (220–240 million), and Kuiper satellite project success.
- Founder Jeff Bezos sold nearly 3 million shares worth $665.8 million in July 2025, part of a plan to divest up to 25 million shares by May 2026.
- Surpassed $75 million in annual recurring revenue, underlining strong subscription growth for its AI marketing platform.
- Expanded AI product and engineering teams by 300% since January 2025 to accelerate feature development.
- Appointed four senior leaders: Kyle Scott as SVP of Partnerships, Brand & Community; Alex Green as Chief of Staff; Will Kornegay as Director of Product; and Eric Dates as Director of Growth Marketing.
- Rolled out its Autonomous AI Marketing Team powered by the proprietary PresenceAI engine, delivering 11,000+ optimizations, messages, and blog posts since launch.
- AWS is committing $700 million as part of a $50 billion public–private initiative to deploy more than 5 GW of carbon-free small modular reactors by 2039
- The collaboration with X-energy, KHNP, and Doosan Enerbility targets over 60 Xe-100 SMR units, roughly equivalent to the output of five conventional nuclear plants
- SMRs using TRISO-X fuel will be located near AWS data centers to enhance reliable, clean power for AI infrastructure and reduce transmission losses
- The plan aligns with the $350 billion 2025 US–South Korea trade deal and is supported by the U.S. Department of Energy
- Amazon Business now actively serves over eight million organizations globally, excluding emerging markets, including 97 of the Fortune 100 and 66 of the FTSE 100.
- The platform drives over $35 billion in annualized gross sales, reflecting strong adoption across small and large enterprises.
- Selection has grown 25% year-over-year, with small business seller offerings up 80% to over 160 million items worldwide.
- Business Prime members saved more than $750 million in shipping fees, with nearly 50% of global and over 70% of U.S. orders delivered same or next day last year.
- FAST views on Kartoon Channel! surged 221% YoY and rose 45% sequentially in Q2 2025
- Original content drove engagement: Rainbow Rangers FAST views grew 80% YoY and Stan Lee’s Superhero Kindergarten watch time increased 47% YoY
- Kartoon Channel! app user base expanded 26% QoQ, and SVOD subscriptions rose for the seventh straight month through July
- Division now reaches viewers in over 60 territories across major FAST, AVOD, and SVOD platforms
- Received Amazon’s Operational Excellence Award for Kartoon Channel! performance on Prime Video
- Amazon shares rose almost 3% following the announcement of free same-day grocery delivery for Prime members.
- Analysts view this as a disruptive move for grocery delivery rivals Instacart, DoorDash, and Uber, enhancing Amazon’s retail narrative.
- This news shifts focus from recent concerns over AWS falling behind Google Cloud and Azure due to in-house chip performance, underscoring Amazon’s retail strength.
- Jim Cramer characterizes the market as rational, citing Amazon’s solid fundamentals as an example of sensible stock momentum amidst broader market froth.
- Amazon placed 24 satellites into low Earth orbit in its fourth Kuiper mission, bringing the constellation to 102 satellites after a Falcon 9 launch from Cape Canaveral.
- The company has secured over 80 satellite launches and aims to deploy 3,236 satellites by mid-2029, with a regulatory deadline to orbit 1,600 satellites by July 2026.
- Amazon plans to begin commercial service by end-2025, targeting broadband for 400–500 million households, and has agreed to serve over 300,000 Australian customers via NBN by mid-2026.
- CEO Andy Jassy highlighted Kuiper’s performance advantages and competitive pricing, though analysts question the current launch pace to meet deadlines.
- AWS added $1.6 billion of revenue quarter-over-quarter, with only 10–15% of workloads migrated to the cloud highlighting significant growth potential.
- CEO Matt Garman emphasized AI as a transformative force and the foundation for enterprise modernization strategies over the next 2–5 years.
- AWS faces supply constraints (chips, power, capacity for large training clusters) and prioritizes mission-critical workloads while working to alleviate bottlenecks.
- AWS partners closely with Nvidia: running DGX Cloud on AWS and offering Nvidia GPUs as EC2 instances enhanced by Nitro for improved security and isolation.