AMZN — what changed in the latest 10-Q
A section-by-section comparison of AMZN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-30 vs the prior 10-Q · 2026-07-31
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +11 | −8 | ~32 | 27 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 3 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Risk factors | Some risk factors updated | +1 | 0 | ~2 | 124 |
| Other information | Text added/removed | +11 | −4 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-30
September 30, 2025 and 2026. In Q2 2025, we invested $1.3 billion in convertible notes from Anthropic. During the nine months ended September 30, 2026, we invested $50.0 billion in OpenAI’s Series C Preferred Stock, including $21.3 billion invested in Q3 2026, and $10.0 billion in Anthropic nonvotin…
Shipping costs were $25.3 billion and $28.3 billion in Q3 2025 and Q3 2026, and $71.2 billion and $81.9 billion for the nine months ended September 30, 2025 and 2026. Shipping costs to receive products from our suppliers are included in our inventory and recognized as cost of sales upon sale of prod…
Condition and Results of Operations — Overview” of our 2025 Annual Report on Form 10-K for a discussion of how management views advances in technology and the importance of innovation.
significantly impact operating income for Q3 2026, but negatively impacted operating income by $330 million for the nine months ended September 30, 2026.
Our interest income was $1.1 billion and $1.2 billion during Q3 2025 and Q3 2026, and $3.3 billion and $3.6 billion for the nine months ended September 30, 2025 and 2026, primarily due to a higher average balance of invested funds, offset by a decrease in prevailing rates. We generally invest our ex…
Text removed vs the prior filing · source: 10-Q · 2026-07-31
the remaining Commitment Amount of $21.3 billion. In Q2 2026, we also invested $10.0 billion in Anthropic nonvoting preferred stock.
Shipping costs were $23.4 billion and $27.9 billion in Q2 2025 and Q2 2026, and $45.9 billion and $53.6 billion for the six months ended June 30, 2025 and 2026. Shipping costs to receive products from our suppliers are included in our inventory and recognized as cost of sales upon sale of products t…
extent our customers accept and use our shipping offers at an increasing rate, we use more expensive shipping methods, and we offer additional services. We seek to mitigate costs of shipping over time in part through achieving higher sales volumes, optimizing our fulfillment network, negotiating bet…
Our interest income was $1.1 billion and $1.3 billion during Q2 2025 and Q2 2026, and $2.2 billion and $2.4 billion for the six months ended June 30, 2025 and 2026, primarily due to a higher average balance of invested funds, offset by a decrease in prevailing rates. We generally invest our excess c…
Interest expense was $516 million and $1.3 billion during Q2 2025 and Q2 2026, and $1.1 billion and $2.1 billion for the six months ended June 30, 2025 and 2026, and was primarily related to debt, including new issuances of Notes, and finance leases. See Item 1 of Part I, “Financial Statements — Not…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-30
of fines, and suspension or debarment from future government business. In addition, some of these contracts are subject to periodic funding approval and/or provide for termination by the government at any time, without cause.
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-30
The information set forth below is included for the purpose of providing disclosure under “Item 1.01 — Entry into a Material Definitive Agreement,” “Item 1.02 — Termination of a Material Definitive Agreement,” and “Item 2.03 — Creation of a Direct Financial Obligation or an Obligation Under an Off-B…
On October 27, 2026, Amazon.com, Inc. (the “Company”), Citibank, N.A., as administrative agent, and the lenders party thereto entered into a five-year revolving credit agreement (the “2026 Credit Agreement”). The 2026 Credit Agreement replaces the prior $15.0 billion five-year revolving credit agree…
In addition, on October 27, 2026, the Company, Citibank, N.A., as administrative agent, and the lenders party thereto entered into a 364-day revolving credit agreement (the “2026 Short-Term Credit Agreement,” and together with the 2026 Credit Agreement, the “2026 Revolving Credit Agreements”). The 2…
The interest rate applicable to outstanding balances under the 2026 Revolving Credit Agreements is the applicable benchmark rate specified in the applicable agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion of the applicable credit facility.
Borrowings under the 2026 Revolving Credit Agreements will be used for working capital and other general corporate purposes, including backstopping any notes that the Company may issue under its commercial paper programs.
Text removed vs the prior filing · source: 10-Q · 2026-07-31
On May 4, 2026, Matthew S. Garman, CEO Amazon Web Services, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 63,743 shares of Amazon.com, Inc. common stock over a period ending on May 28, 2027, subject to certain conditions.
On May 4, 2026, Daniel P. Huttenlocher, a member of our Board of Directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 783 shares of Amazon.com, Inc. common stock over a period ending on November 23, 2026, subject to certain conditions.
On May 12, 2026, Jonathan J. Rubinstein, a member of our Board of Directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 13,361 shares of Amazon.com, Inc. common stock over a period ending on May 9, 2028, subject to certain conditions.
On May 14, 2026, Brian T. Olsavsky, Senior Vice President and Chief Financial Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 6,172 shares of Amazon.com, Inc. common stock over a period ending on August 31, 2026, subject to certain conditions.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice