Amazon Operating Profit Margin By Segment

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This page covers Amazon.com, Inc.’s operating profit margin by segment. Amazon’s segments consist of North America, International, and AWS.

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For other statistics of Amazon.com, Inc., you may find more information on this page: Amazon key stats.

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Insight & Summary of Amazon’s Operating Profit Breakdown By Segment

Amazon’s segment-level profitability tells a story of two structurally different businesses under one roof — AWS has functioned as a consistently high-margin profit engine throughout the entire period, while North America and International have each undergone genuine turnarounds, with 2022 marking a sharp low point for both retail segments before a substantial recovery through 2024-2025.

• AWS: A Consistently High-Margin Profit Engine, With Margin Compression in 2025 AWS Operating Profit Margin has remained dramatically higher than either retail segment throughout the entire eleven-year period, never falling below 19.1% (2015) and reaching a peak of 37.0% (2024). Notably, 2025 shows AWS margin declining to 35.4% from that 2024 peak — a genuine reversal worth flagging, even though AWS Operating Profit itself continued growing in absolute dollar terms ($39,834 million to $45,606 million). This divergence between rising absolute profit and declining margin suggests AWS’s cost base — likely tied to infrastructure and AI-related investment — has been growing faster than its revenue in the most recent year.

• North America: A Dramatic 2022 Low Point, Followed by a Strong and Sustained Recovery North America Operating Profit swung from $7,271 million (2021) to an outright operating loss of -$2,847 million (2022) — the only loss year for this segment in the entire dataset — before recovering sharply to $14,877 million (2023), $24,967 million (2024), and $29,619 million (2025). North America Operating Profit Margin followed the same pattern, falling to -0.9% (2022) before climbing to 6.9% by 2025, its highest level in the dataset. This is a genuine turnaround story: North America’s 2025 margin is nearly triple its typical pre-2022 range (roughly 2.2%-5.1%).

• International: The Segment With the Longest Path to Sustained Profitability International Operating Profit was negative in nine of the eleven years shown, including a particularly steep loss of -$7,746 million (2022) — its worst year and the worst single-segment result in the entire dataset. However, International has shown clear, sustained improvement since: positive operating profit in three consecutive years (2020, 2024, 2025), with 2024 and 2025 marking the first genuinely positive back-to-back years in the segment’s history within this dataset ($3,792 million and $4,750 million respectively, with margins of 2.7% and 2.9%). This is a meaningfully different trajectory than North America’s sharper V-shaped recovery — International’s path to profitability has been more gradual and only recently consolidated into a sustained positive trend.

• Consolidated Operating Profit: A New Level of Profitability Reached in 2024-2025 Consolidated Operating Profit Margin reached 10.8% (2024) and 11.2% (2025), roughly double its typical 2-6% range in every prior year of the dataset. This step-change is directly attributable to the simultaneous improvement across all three segments: North America’s post-2022 recovery, International’s newly sustained profitability, and AWS’s continued (if slightly moderating) high-margin contribution all combined to produce a genuinely different consolidated profitability profile than Amazon exhibited through 2023.

• Structural Takeaway: Amazon’s 2022 operating loss year for North America and steep loss for International now reads as a genuine low point rather than a sign of structural weakness, given both segments have since delivered their strongest results in the dataset by 2024-2025 — a pattern consistent with a company that absorbed cost pressures in 2022 and has since re-established profitable operating leverage across its retail businesses.

  AWS’s slight margin decline in 2025, occurring even as its absolute profit grew, is the one trend worth monitoring closely: if this compression continues into 2026, it would represent AWS’s first genuine multi-year margin deceleration in the dataset, a meaningfully different signal than the sustained margin expansion AWS delivered through 2024. Given Consolidated Operating Profit Margin has now roughly doubled from its historical range, the more important question for executives and investors going forward is whether 2024-2025’s step-change in profitability represents a new sustainable baseline or a temporary peak that could moderate if AWS’s margin trend continues its 2025 direction.

The table below combines all key Amazon’s operating profit margin by segment metrics into a single view for the latest three fiscal years.

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Operating profit breakdown by segment

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Operating profit margin by segment

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References and Credits

1. All financial figures presented were obtained and referenced from Amazon.com, Inc.’s quarterly and annual reports published on the company’s investor relations page: Amazon.com, Inc. Investor Relations.

2. Pexels Images.

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Disclosure

We may use the assistance of artificial intelligence (AI) tools to produce some of the text in this article. However, the data is directly obtained from original sources (usually the annual and quarterly reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

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