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Operating Margin by Segment
Reveals profitability efficiency within each business unit, helping to assess which segments are most cost-effective and contribute most to overall financial health.AWS has become the primary margin engine—recent rebound to record levels reflects AI-driven demand, scale benefits and a large backlog/run-rate—yet management warns these margins can swing with heavy infrastructure spending, capacity constraints and timing/accounting items. North America’s margin recovery signals stronger retail profitability and fulfillment productivity, while International’s shift from losses to low-margin profitability shows progress but remains vulnerable to FX, logistics and local cost pressures. In short, AWS growth underpins profitability, but sustainability depends on the cadence of costly capacity builds and cost pressures.
Date | AWS | International | North America |
|---|---|---|---|
Jun 30, 2026 | 39.40 | 4.10 | 7.90 |
Mar 31, 2026 | 37.70 | 3.60 | 7.90 |
Dec 31, 2025 | 35.00 | 2.10 | 9.00 |
Sep 30, 2025 | 34.60 | 2.90 | 4.50 |
Jun 30, 2025 | 32.90 | 4.10 | 7.50 |
Mar 31, 2025 | 39.45 | 3.03 | 6.29 |
Dec 31, 2024 | 36.90 | 3.00 | 8.00 |
Sep 30, 2024 | 38.05 | 3.63 | 5.93 |
Jun 30, 2024 | 35.52 | 0.86 | 5.63 |
Mar 31, 2024 | 37.60 | 2.80 | 5.10 |