EarningsQ2 2026 Earnings Report
MX:AMZN Q2 2026 EPS Results
Actual EPS$97.51
Consensus EPS$30.92
Beat/MissBeat by +$66.60
One Year Ago EPS$28.49
MX:AMZN Q2 2026 Revenue Results
Actual Revenue$3.40T
Expected Revenue$3.34T
Beat/MissBeat by +$60.56B
YoY Revenue Growth+19.62%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:AMZN Upcoming Earnings
Amazon's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AMZN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a dominant positive tone: very strong top-line growth (revenue +20%), outsized AWS acceleration (AWS revenue +36.7%, large backlog and run-rates), robust AI and chip momentum (multiple >$25B run-rates and triple-digit YoY growth), broad product traction across stores, ads, and new AI services, and a clear long-term capital plan tied to expected attractive ROIC. Offsetting risks are meaningful: a sharp increase in CapEx (raised to ~$220B), near-term free cash flow pressure, persistent capacity constraints, elevated logistics and component costs, and some one-time accounting/timing benefits that boosted Q2 results. Overall, highlights materially outweigh the lowlights given exceptional demand, product adoption, and long-term growth visibility.Company Guidance
Strong Overall Financial Performance
Worldwide revenue $200.6B, up 20% year-over-year; operating income $27.5B, up 43% year-over-year. Worldwide paid units grew 17% year-over-year.
AWS Acceleration and Scale
AWS revenue $42.2B, up 36.7% year-over-year (fifth straight quarter of accelerating growth). AWS annualized run rate $169B and backlog $496B (triple-digit YoY growth). AWS added >$4.6B in revenue quarter-over-quarter — ~80% more than the company's prior largest increase — with AWS operating income $16.6B and an operating margin near ~39% (up ~650 bps YoY, ~520 bps excluding a derivative accounting gain).
AI and Chips Momentum
AI revenue run rate >$25B and chips business run rate >$25B, both growing at triple-digit percentages year-over-year. Trainium and Graviton adoption strong: Graviton used by 98% of top 1,000 EC2 customers; Graviton5 growing nearly 2x faster than Graviton4. Multi-year, multi-gigawatt commitments from Anthropic and OpenAI and broad startup adoption for Trainium.
Rapid Traction for New AI Products and Agentic Services
Amazon Bedrock growing quickly (management noted customers spent more in the quarter than in all prior quarters combined). Amazon Bedrock Agents, Amazon Q, Kiro (agentic coding service) and AWS Continuum launched/expanded: Kiro usage tripled quarter-over-quarter and is up to 50% more cost-effective; Amazon Q has large enterprise customers (3M, Allianz, AstraZeneca, Exxon, NFL/NBA customers, etc.).
Stores, Grocery and Fast Commerce Expansion
Added millions of products (including >700k from notable brands). Amazon Haul items under $10 expanded nearly 20x since launch. Grocery scale: second-largest U.S. grocer; monthly active perishables customers grew >50% since start of year. Same-day/overnight deliveries up over 40% in the first six months vs. prior year. Amazon Now expanded to +80 U.S. cities and to 9 countries / 250+ cities globally; same-day sales/units grew >80% quarter-over-quarter and customers served rose >60% quarter-over-quarter.
Advertising and Entertainment Momentum
Amazon Ads revenue $19.8B, up 26% year-over-year. Sponsored Products remain the largest driver; Ads Agent yields ~8% lower cost per impression and ~6% lower cost per acquisition. Prime Video sports and content driving viewership highs (e.g., 6.5M peak U.S. viewers for a Game Seven).
Operational Productivity and Automation
Progress on fulfillment optimization: improved inventory placement, fewer touches, higher consolidation, expanded robotics (plan to more than double fleet of robotic arms in 2026). Shipping costs excluding fuel/line-haul rose more slowly than unit growth; company implementing FBA fuel & logistics surcharge to offset costs.
Clear Capital Plan with ROIC Rationale
2026 cash CapEx guidance raised to approximately $220B (from ~$200B) driven by memory costs; management explained break-even timelines (servers ~<3 years to break-even; data centers monetized for 30+ years) and argued for attractive long-term returns and compelling ROIC as revenue scales.
MX:AMZN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed