Amazon.com (AMZN) Q1 FY2022 earnings: revenue $116.4 billion, up 7.3% on the year

Amazon.com Inc. (AMZN) reported revenue of $116.4 billion for Q1 FY2022, the quarter ended 31 March 2022, up 7.3% on the same quarter a year earlier as this quarter's filing gives it. Net income was -$3.8 billion, and diluted earnings per share $-0.38. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2022.

Revenue

$116.4 billion

+7.3% on the year · -15.3% on the quarter

Q2 FY2020Q1 FY2022

Operating margin

3.2%

8.2% a year earlier

Q2 FY2020Q1 FY2022

Net income

-$3.8 billion

Q2 FY2020Q1 FY2022

Diluted EPS

-$0.38

Q2 FY2020Q1 FY2022

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q1 FY2022	Q4 FY2021	Q1 FY2021	On the quarter	On the year
Revenue	116,444	137,412	108,518	-15.3%	+7.3%
Cost of revenue	66,499	82,835	n/a	-19.7%
Gross profit	49,945	54,577	n/a	-8.5%
Gross margin	42.9%	39.7%	n/a
Operating income	3,669	3,460	8,865	+6.0%	-58.6%
Operating margin	3.2%	2.5%	8.2%
Interest expense	472	482	n/a	-2.1%
Pre-tax income	-5,265	14,934	n/a
Income tax	-1,422	612	n/a
Effective tax rate	n/a	4.1%	n/a
Net income	-3,844	14,323	8,107
Net margin	-3.3%	10.4%	n/a
Diluted EPS	-$0.38	$1.39	$0.79

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q1 FY2022	Q4 FY2021	Q1 FY2021	On the quarter	On the year
Operating cash flow	-2,790	22,086	n/a
Capital expenditure	14,951	18,935	n/a	-21.0%
Free cash flow	-17,741	3,151	n/a
Free cash flow margin	-15.2%	2.3%	n/a
Cash from investing	906	-12,580	n/a
Cash from financing	1,990	-3,100	n/a
Depreciation and amortisation	9,193	9,802	7,508	-6.2%	+22.4%
Share-based compensation	3,250	3,680	n/a	-11.7%
Buybacks	2,666	0.0	n/a
Diluted shares, weighted	10,180m	10,300m	10,260m	-1.2%	-0.8%
Shares outstanding at period end	10,180m	10,180m	10,080m	0.0%	+1.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2022	Q4 FY2021	Q1 FY2021	On the quarter	On the year
Shareholders' equity	134,001	138,245	103,320	-3.1%	+29.7%
Short-term borrowings	n/a	318	n/a
Debt	50,553	50,553	33,227	0.0%	+52.1%
Operating lease liabilities	51,646	51,981	n/a	-0.6%
Finance lease liabilities	14,085	15,670	n/a	-10.1%
Other liabilities	160,482	163,782	n/a	-2.0%
Total liabilities and equity	410,767	420,549	n/a	-2.3%
Goodwill	20,229	15,371	n/a	+31.6%
Intangible assets	n/a	5,107	n/a
Investments	29,992	59,829	n/a	-49.9%
Cash and equivalents	36,393	36,220	33,834	+0.5%	+7.6%
Receivables	32,504	32,891	n/a	-1.2%
Inventory	34,987	32,640	n/a	+7.2%
Other assets	256,662	238,491	n/a	+7.6%
Total assets	410,767	420,549	n/a	-2.3%

Questions

What was Amazon.com's revenue in Q1 FY2022?

Amazon.com (AMZN) reported revenue of $116.4 billion for Q1 FY2022, the quarter ended 31 March 2022, up 7.3% on the same quarter a year earlier as the company restated it.

How much did Amazon.com earn in Q1 FY2022?

Net loss for Q1 FY2022 was $3.8 billion, and the diluted loss per share $0.38.

When did Amazon.com report Q1 FY2022 results?

Amazon.com filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 29 April 2022.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	137,412	116,444	121,234	127,101	149,204	127,358	134,383	143,083	169,961	143,313	147,977	158,877	187,792	155,667	167,702	180,169	213,386	181,519	200,606	201,944
Cost of revenue	82,835	66,499	66,424	70,268	85,640	67,791	69,373	75,022	92,553	72,633	73,785	80,977	98,893	76,976	80,809	88,670	109,959	87,463	95,778	94,573
Gross profit	54,577	49,945	54,810	56,833	63,564	59,567	65,010	68,061	77,408	70,680	74,192	77,900	88,899	78,691	86,893	91,499	103,427	94,056	104,828	107,371
Gross margin	40%	43%	45%	45%	43%	47%	48%	48%	46%	49%	50%	49%	47%	51%	52%	51%	48%	52%	52%	53%
Operating income	3,460	3,669	3,317	2,525	2,737	4,774	7,681	11,188	13,209	15,307	14,672	17,411	21,203	18,405	19,171	17,422	24,977	23,852	27,461	28,076
Operating margin	3%	3%	3%	2%	2%	4%	6%	8%	8%	11%	10%	11%	11%	12%	11%	10%	12%	13%	14%	14%
Interest expense	482	472	584	617	694	823	840	806	713	644	589	603	570	541	516	538	679	800	1,314	1,691
Pre-tax income	14,934	-5,265	-2,653	2,944	-962	4,119	7,563	12,189	13,686	12,983	15,245	18,037	22,349	21,679	20,857	28,170	26,605	39,834	80,857	26,869
Tax rate	4%	n/a	n/a	2%	n/a	23%	11%	19%	22%	19%	12%	15%	10%	21%	13%	25%	19%	24%	23%	23%
Net income	14,323	-3,844	-2,028	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255	62,647	20,685
Net margin	10%	-3%	-2%	2%	0%	2%	5%	7%	6%	7%	9%	10%	11%	11%	11%	12%	10%	17%	31%	10%
Diluted EPS	$1.39	-$0.38	-$0.20	$0.28	$0.03	$0.31	$0.65	$0.94	$1.00	$0.98	$1.26	$1.43	$1.86	$1.59	$1.68	$1.95	$1.95	$2.78	$5.75	$1.89
Operating cash flow	22,086	-2,790	8,965	11,404	29,173	4,788	16,476	21,217	42,465	18,989	25,281	25,971	45,636	17,015	32,515	35,525	54,459	26,032	45,387	42,422
Capital expenditure	18,935	14,951	15,724	16,378	16,592	14,207	11,455	12,479	14,588	14,925	17,620	22,620	27,834	25,019	32,183	35,095	39,522	44,203	54,208	77,259
Free cash flow	3,151	-17,741	-6,759	-4,974	12,581	-9,419	5,021	8,738	27,877	4,064	7,661	3,351	17,802	-8,004	332	430	14,937	-18,171	-8,821	-34,837
Buybacks	0.0	2,666	3,334	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	10,180m	10,180m	10,183m	10,198m	10,242m	10,258m	10,313m	10,330m	10,383m	10,403m	10,490m	10,511m	10,593m	10,613m	10,660m	10,687m	10,731m	10,754m	10,783m	10,811m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 29 April 2022: the filing.