Key insights
7 takeaways · ~3 min read- 01Net cash provided by operating activities increased from $49.53 billion for the six months ended June 30, 2024, to $121.137 billion for the six months ended June 30, 2025.
- 02Total net additions to property and equipment significantly increased, reaching $58.21 billion for the six months ended June 30, 2025, up from $33.751 billion in the comparable prior year period, with AWS accounting for the largest share at $36.507 billion.
- 03The 2025 Tax Act, which reinstates 100% accelerated depreciation and immediate expensing of domestic R&D costs, is expected to significantly reduce U.S. cash taxes in 2025, with cash taxes paid decreasing from $5.7 billion in Q2 2024 to $4.8 billion in Q2 2025.
- 04Lease liabilities increased, with total long-term lease liabilities rising from $78.277 billion as of December 31, 2024, to $83.221 billion as of June 30, 2025.
- 05Inventories, valued using the first-in, first-out method, had a valuation allowance (write-down) of $3.0 billion as of December 31, 2024, and $2.8 billion as of June 30, 2025.
- 06Customer receivables, net, increased from $34.3 billion as of December 31, 2024, to $36.6 billion as of June 30, 2025, while vendor receivables, net, decreased from $11.6 billion to $10.6 billion during the same period.
- 07Operating income for Q3 2025 is projected to be between $15.5 billion and $20.5 billion, compared to $17.4 billion in Q3 2024.
Summary
SEC 10-Q filing for Amazon, filed 2025-08-01.
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