Amazon

Financial disclosures

Q2 2026 (quarter ended June 30, 2026) — reported July 29-30, 2026 · As of Oct 28, 2026

Amazon's second-quarter 2026 report was dominated by two storylines: a cloud business running hotter than Wall Street expected, and a financial-statement quirk tied to its stake in AI startup Anthropic. Net sales rose 20% year over year to $200.6 billion — the first time Amazon has cleared $200 billion in a single quarter — with operating income up 43% to $27.5 billion. AWS, the company's profit engine, grew revenue 37% to $42.2 billion, with CEO Andy Jassy calling AWS "booming" and noting its AI and chips businesses were each already running above a $25 billion annualized pace. Retail also accelerated: North America sales grew 16% to $116.2 billion and International sales grew 15% to $42.2 billion, both with improved operating income.

The headline GAAP net income figure, however, was inflated by a one-time, non-operating item: Amazon booked roughly $53.4 billion in pre-tax other income, primarily a mark on its Anthropic investment, pushing net income to $62.6 billion ($5.75 per diluted share) versus $18.2 billion ($1.68) a year earlier — a gain that should be read separately from the operating story. Capital spending underscored the scale of Amazon's AI infrastructure build-out: quarterly gross capex hit $54.2 billion versus $32.2 billion a year earlier, and trailing-twelve-month capex net of incentives reached $169.0 billion, up $66.1 billion year over year — spending so heavy that trailing free cash flow flipped to a $7.6 billion outflow from an $18.2 billion inflow the prior year, even as trailing operating cash flow grew 33% to $161.4 billion.

For Q3 2026 — due to be reported October 29, 2026, one day after this summary was written — Amazon guided to net sales of $197.0–$202.0 billion (9–12% growth) and operating income of $22.5–$26.5 billion, up from $17.4 billion in Q3 2025.

Key figures

Source: Amazon investor relations / SEC-filed press release