Amazon Q2’26 earnings posts $200.6B revenue, $27.5B operating income, and $62.6B net income

AWS momentum: fastest growth in 18 quarters with AI and chips businesses each exceeding $25 billion annualized run rates; continued Trainium adoption with multi‑year, multi‑gigawatt commitments from m

Studio

Jul 30, 2026

AMAZON AMZN 0.00%↑ Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $200.6B (Est. $196.4B) 🟢; +20% YoY

🔹 EPS: $5.75; incl. $53.4B non-operating gain primarily from Anthropic investment

🔹 AWS Sales: $42.2B (Est. $40.5B) 🟢; +37% YoY

Q3 Guide:

🔹 Revenue: $197B-$202.0B (Est. $204B) 🔴

🔹 Revenue Growth: +9%-+12% YoY

🔹 Op. Income: $22.5B-$26.5B (Est. $24.79B) 🟡

Segment Net Revenue:

🔹 North America: $116.2B (Est. $113.8B) 🟢; +16% YoY

🔹 International: $42.2B; +15% YoY

🔹 AWS: $42.2B; +37% YoY

Other Q2 Metrics:

🔹 Op. Income: $27.5B (Est. $23.53B) 🟢; +43% YoY

🔹 AWS Operating Margin: 39.4% (Est. 33.8%) 🟢

🔹 Free Cash Flow (TTM): -$7.6B (Est. -$3.81B) 🔴

🔹 Exceeded a $25 billion annual revenue run rate for its chips business, growing triple-digit percentages year-over-year.

Comments:

🔸 “AWS is booming, growing 36.7% year-over-year in Q2—our fastest growth in 18 quarters—and our AI and Chips businesses each eclipsed run rates of more than $25 billion.”

🔸 “Advertising had another strong quarter with 26% year-over-year growth.”

"Exceeded a $25 billion annual revenue run rate for its chips business, growing triple-digit percentages year-over-year."

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Business highlights

AWS momentum: fastest growth in 18 quarters with AI and chips businesses each exceeding $25 billion annualized run rates; continued Trainium adoption with multi‑year, multi‑gigawatt commitments from major AI labs.
Product and platform launches: Graviton5 general availability; added 10+ fully managed foundation models to Amazon Bedrock (including GPT‑5.6 and Claude Opus 5); previewed AWS Continuum and expanded Bedrock AgentCore capabilities.
Agentic and developer tools: launched serverless infrastructure for agentic AI (Lambda MicroVMs, next‑gen OpenSearch Serverless, purpose‑built log analytics) and expanded Kiro and AWS DevOps Agent capabilities.
Retail and logistics: Prime delivery speeds improved with over 40% more items delivered same‑day or overnight in H1; Amazon Now ultra‑fast delivery expanded to 80 new U.S. cities and additional international locations.
New initiatives and partnerships: announced AWS Forward Deployed Engineering ($1B investment), AWS Secret Cloud for Industry general availability, expanded Amazon Supply Chain Services and reached milestones for Amazon Business, Prime Video viewership, Zoox regulatory approval, and Amazon Leo satellite launches.

Amazon Q2 ‘26 Revenue Growth