Track market-moving stories before they get noisy

Key Takeaways AWS revenue jumped 37%, marking its fastest growth since 2021, per CNBC.Amazon surged 10% after Q2 as AI demand powered AWS growth. Amazon-heavy ETFs like GXPT, TRUD, ONLN and XLY are in focus. On July 30, Amazon (AMZN - Free Report) came out with second-quarter earnings of $1.88 per share, beating the Zacks Consensus Estimate of $1.83 per share and year-ago level of earnings of $1.68 per share. The company posted revenues of $200.61 billion, surpassing the Zacks Consensus Estimate of $197.11 billion and rising from $167.7 billion in the year-ago quarter.

Amazon's cloud segment grew 37% in the second quarter, outpacing analysts' expectations of 31% and marking its strongest expansion since 2021, as quoted on CNBC. AWS’ artificial intelligence (AI) business and the unit’s chips each generated over $25 billion in annualized revenue, more than doubling from last year (per CNBC). Shares surged 10.4% in after-hours trading on July 30.

Inside AWS StrengthAWS has brought in $16.62 billion in second-quarter operating income, well above StreetAccount’s $13.62 billion consensus, as quoted on CNBC. AWS reported a 36.8% operating margin in Q2, while one of its closest peers’ – Google Cloud’s – margin was 35.6%. Nearly 61% of Amazon’s total operating profit now comes from AWS.

Inside the Capex Boom Like its peers, Amazon has been rapidly expanding AI-focused data centers to meet surging customer demand for AI computing. Second-quarter capital expenditures jumped 68% year over year to $54.21 billion, topping the StreetAccount consensus estimate of $49.35 billion, per the same CNBC source.

CEO Andy Jassy said the company expects capital spending to reach $220 billion this year due to higher memory costs. Jassy indicated that Amazon's heavy investment cycle is unlikely to slow anytime soon, as quoted on CNBC.

Jassy said Amazon still lacks enough capacity to meet all customer demand in 2026 despite its massive investments. He added that strong demand is expected to persist through 2027, with orders already lined up for 2028.

Aggressive investment spending pushed Amazon's free cash flow into negative territory. Over the trailing 12 months, the company reported a free cash outflow of $7.6 billion, compared with a free cash inflow of $18.2 billion in the same period a year earlier.

ETFs to Play Amazon shares are up only 4% so far this year while they are off 1.2% over the past month. The latest earnings reignited optimism around the stock. Amazon stock has a Growth momentum of “B.” Amazon’s post-earnings share price rally and the Big Tech’s AI dreams put the below-mentioned exchange-traded funds (ETFs) in focus.

Global X PureCap MSCI Consumer Discretionary ETF (GXPT - Free Report) – AMZN’s weight 38.73%

VanEck Consumer Discretionary TruSector ETF (TRUD - Free Report) – weight 25.65%

ProShares Online Retail ETF (ONLN - Free Report) – weight 22.66%

State Street Consumer Discretionary Select Sector SPDR ETF (XLY - Free Report) – weight 22.45%

ToplineJeff Bezos on Friday became the world’s third-richest person once again, reclaiming the ranking from Google co-founder Sergey Brin as Amazon’s stock accelerated at its fastest pace in four years, following a hotter-than-expected earnings report.

A better-than-expected jump in cloud revenue boosted Amazon’s stock.

Getty Images

Key FactsShares of Amazon surged about 14% shortly after trading opened on Friday, pacing the stock’s largest single-day gain since April 24, 2015 (14.1%).

That burst followed Amazon’s quarterly earnings on Thursday, in which the firm reported $206.6 billion in revenue boosted by a 37% year-over-year surge in cloud sales to $42.2 billion, exceeding Wall Street’s estimates of $197 billion and $40.5 billion, respectively, according to FactSet.

Amazon even raised its spending forecast this year to $220 billion, up from $200 billion, as CEO Andy Jassy said a majority of Amazon’s capital expenditures would go toward matching demand for AI, noting the firm was “unusually well-positioned for this AI inflection.”

Tech firms have been increasingly scrutinized as they raise their projected spending to meet demand for AI, but Forrester analyst Tracy Woo wrote in a note Thursday that Amazon’s cloud sales growth was a “clear indicator” that its investments are “meeting market demand rather than outpacing it.”

Forbes ValuationSurging Amazon shares added $25 billion to Bezos’ net worth, estimated at $271.5 billion as of Friday morning. That ranks the Amazon founder as the world’s third-richest person between Google co-founders Larry Page ($279.3 billion) and Brin ($257.6 billion).

tangentApple shares plunged 9% after the firm issued weaker-than-expected guidance for its current quarter, citing “supply constraints” as it now anticipates revenue growth between 9% and 11%, below estimates of 12%. Apple CEO Tim Cook, who spoke in his last earnings call at the helm of the firm, said Apple expects to “pay even higher memory costs” amid a global memory shortage. “If you look beyond September, we see the market pricing for memory continuing to increase, which could drive an increasing impact on our business,” Cook said.

key backgroundBezos and Brin have swapped spots among the world’s wealthiest people multiple times in recent weeks, as investors weigh incoming earnings reports and any signs of weakness in the global AI market. Most of the focus has centered on AI strategy from mega-cap firms, like Amazon, as they navigate an accelerating market and a shrinking memory trade. Earlier this week, Meta shares tanked while Microsoft rallied 15%, as traders took sides on either firm’s approach to their AI products.

further readingForbesSergey Brin Rises To 3rd Richest—Despite Google Stock PlungeBy Mary Whitfill Roeloffs

Posted by Defense World Staff on Jul 31st, 2026

Amazon.com, Inc. (NASDAQ:AMZN) traded up 3.9% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $239.82 and last traded at $235.50. 92,235,291 shares were traded during mid-day trading, an increase of 87% from the average session volume of 49,428,434 shares. The stock had previously closed at $226.65.

The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $3.93. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business had revenue of $200.61 billion during the quarter, compared to analyst estimates of $197.03 billion. During the same period in the prior year, the company posted $1.68 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year.

Trending Headlines about Amazon.com Here are the key news stories impacting Amazon.com this week:

Positive Sentiment: AWS growth reaccelerated sharply: Amazon Web Services revenue rose 37% year over year—the fastest growth in several years—beating expectations as enterprise AI spending increased. New arrangements with Meta and OpenAI further support demand for Amazon’s cloud infrastructure. Amazon’s AWS posts fastest growth since 2021 Positive Sentiment: Amazon delivered a broad earnings beat: Second-quarter revenue increased approximately 20% to $200.6 billion, surpassing the $197.0 billion consensus estimate, while EPS of $5.75 exceeded expectations of $1.82. Operating income reached $27.5 billion, and AWS operating profit was approximately $16.6 billion. Amazon.com Announces Second Quarter Results Positive Sentiment: Advertising and retail added momentum: Advertising revenue climbed 26% to nearly $20 billion, while Prime Day activity supported the North American e-commerce business. Amazon also said a $600 million tariff refund will be partly passed on to customers. Amazon Thrives On Big Q2 Positive Sentiment: AI strategy is increasingly focused on monetization: Coverage suggests Amazon is emphasizing AWS infrastructure, partnerships and customer access rather than competing exclusively to build the industry’s top proprietary model. This could improve returns on AI spending and reduce the cost of a frontier-model race. Amazon is proving you don’t need the best model Neutral Sentiment: Amazon’s Anthropic investment produced a substantial non-operating gain, boosting reported profitability, but the benefit may be volatile and does not represent recurring operating earnings. Negative Sentiment: Spending and guidance remain investor concerns: Amazon’s planned roughly $200 billion of 2026 capital expenditures is pressuring free cash flow, while its third-quarter revenue outlook of $197 billion to $202 billion is below the approximately $204.6 billion analyst consensus. Reports of costly AI deployment errors add to execution risk. Amazon Contends With Unplanned Overspending on AI Analyst Ratings Changes Several research firms have recently issued reports on AMZN. Telsey Advisory Group increased their price target on Amazon.com from $300.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $319.00 price objective on shares of Amazon.com and gave the company a “buy” rating in a research note on Thursday, April 30th. DA Davidson upped their price objective on shares of Amazon.com from $175.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Wolfe Research reiterated an “outperform” rating and issued a $320.00 target price (up from $245.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Citigroup reissued a “market outperform” rating on shares of Amazon.com in a research note on Wednesday, July 15th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.43.

Check Out Our Latest Stock Analysis on AMZN

Insider Buying and Selling In related news, CEO Andrew R. Jassy sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the completion of the transaction, the chief executive officer owned 2,205,766 shares of the company’s stock, valued at $581,042,879.72. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 135,719 shares of company stock worth $36,438,002. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com Several large investors have recently made changes to their positions in AMZN. Trust Asset Management LLC raised its position in shares of Amazon.com by 3.3% during the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant’s stock worth $26,000 after purchasing an additional 3,414 shares during the period. MilWealth Group LLC lifted its holdings in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Amazon.com in the 4th quarter valued at $45,000. Elkhorn Partners Limited Partnership boosted its position in shares of Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 180 shares during the period. Finally, Fairway Wealth LLC increased its stake in Amazon.com by 95.6% in the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 3.9% The company has a fifty day simple moving average of $245.59 and a 200-day simple moving average of $235.97. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.53 trillion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.70 and a beta of 1.46.

Amazon.com Company Profile (Get Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

Recommended Stories Five stocks we like better than Amazon.com Microsoft Just Flipped the AI Spending Narrative Overnight Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling? Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINETrip.com Group (NASDAQ:TCOM) Price Target Cut to $62.00 by Analysts at Citigroup

NEXT HEADLINE »MBX Biosciences (NASDAQ:MBX) Reaches New 12-Month High After Analyst Upgrade

Assetmark Inc. raised its holdings in Amazon.com, Inc. (NASDAQ: AMZN) by 0.7% in the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,831,400 shares of the e-commerce giant's stock after buying an additional 12,374 shares during the quarter. Amazon.com makes up approximately 0.8% of Assetmark

Posted by Defense World Staff on Jul 31st, 2026

Catalyst Capital Advisors LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 94.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,455 shares of the e-commerce giant’s stock after selling 23,963 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Amazon.com were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. MilWealth Group LLC raised its position in Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after acquiring an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new stake in shares of Amazon.com during the 4th quarter worth $45,000. Elkhorn Partners Limited Partnership boosted its position in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 180 shares in the last quarter. Fairway Wealth LLC grew its stake in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. grew its stake in shares of Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 3.9% Shares of NASDAQ AMZN opened at $235.50 on Friday. The firm’s 50-day moving average is $245.59 and its two-hundred day moving average is $235.97. The company has a market capitalization of $2.53 trillion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.46. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. During the same period in the previous year, the firm posted $1.68 EPS. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 7.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In Several analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $330.00 price objective (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. HSBC boosted their price objective on shares of Amazon.com from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Benchmark increased their target price on shares of Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, April 30th. DZ Bank lifted their price target on shares of Amazon.com from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Evercore reissued an “outperform” rating on shares of Amazon.com in a research note on Tuesday. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $313.43.

Read Our Latest Report on AMZN

Key Amazon.com News Here are the key news stories impacting Amazon.com this week:

Positive Sentiment: AWS growth reaccelerated sharply: Amazon Web Services revenue rose 37% year over year—the fastest growth in several years—beating expectations as enterprise AI spending increased. New arrangements with Meta and OpenAI further support demand for Amazon’s cloud infrastructure. Amazon’s AWS posts fastest growth since 2021 Positive Sentiment: Amazon delivered a broad earnings beat: Second-quarter revenue increased approximately 20% to $200.6 billion, surpassing the $197.0 billion consensus estimate, while EPS of $5.75 exceeded expectations of $1.82. Operating income reached $27.5 billion, and AWS operating profit was approximately $16.6 billion. Amazon.com Announces Second Quarter Results Positive Sentiment: Advertising and retail added momentum: Advertising revenue climbed 26% to nearly $20 billion, while Prime Day activity supported the North American e-commerce business. Amazon also said a $600 million tariff refund will be partly passed on to customers. Amazon Thrives On Big Q2 Positive Sentiment: AI strategy is increasingly focused on monetization: Coverage suggests Amazon is emphasizing AWS infrastructure, partnerships and customer access rather than competing exclusively to build the industry’s top proprietary model. This could improve returns on AI spending and reduce the cost of a frontier-model race. Amazon is proving you don’t need the best model Neutral Sentiment: Amazon’s Anthropic investment produced a substantial non-operating gain, boosting reported profitability, but the benefit may be volatile and does not represent recurring operating earnings. Negative Sentiment: Spending and guidance remain investor concerns: Amazon’s planned roughly $200 billion of 2026 capital expenditures is pressuring free cash flow, while its third-quarter revenue outlook of $197 billion to $202 billion is below the approximately $204.6 billion analyst consensus. Reports of costly AI deployment errors add to execution risk. Amazon Contends With Unplanned Overspending on AI Insider Activity at Amazon.com In related news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the sale, the chief executive officer owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the transaction, the chief executive officer directly owned 471,361 shares of the company’s stock, valued at $129,624,275. The trade was a 5.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,719 shares of company stock valued at $36,438,002 in the last ninety days. 8.90% of the stock is owned by insiders.

Amazon.com Company Profile (Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

See Also Five stocks we like better than Amazon.com Microsoft Just Flipped the AI Spending Narrative Overnight Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling? Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINERobinhood Markets (NASDAQ:HOOD) Given New $120.00 Price Target at Needham & Company LLC

NEXT HEADLINE »Financiere des Professionnels Fonds d investissement inc. Buys 55,938 Shares of Amazon.com, Inc. $AMZN

C WorldWide Group Holding A S decreased its position in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 26.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,307,567 shares of the e-commerce giant’s stock after selling 476,214 shares during the quarter. Amazon.com accounts for approximately 5.8% of C WorldWide Group Holding A S’s holdings, making the stock its 6th largest holding. C WorldWide Group Holding A S’s holdings in Amazon.com were worth $272,327,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after acquiring an additional 8,913,959 shares during the last quarter. State Street Corp grew its stake in shares of Amazon.com by 1.8% during the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock worth $89,708,913,000 after acquiring an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after purchasing an additional 2,479,324 shares during the last quarter. Norges Bank acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $32,868,735,000. Finally, Auto Owners Insurance Co lifted its position in shares of Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com News Roundup Here are the key news stories impacting Amazon.com this week:

Positive Sentiment: AWS growth reaccelerated sharply: Amazon Web Services revenue rose 37% year over year—the fastest growth in several years—beating expectations as enterprise AI spending increased. New arrangements with Meta and OpenAI further support demand for Amazon’s cloud infrastructure. Amazon’s AWS posts fastest growth since 2021 Positive Sentiment: Amazon delivered a broad earnings beat: Second-quarter revenue increased approximately 20% to $200.6 billion, surpassing the $197.0 billion consensus estimate, while EPS of $5.75 exceeded expectations of $1.82. Operating income reached $27.5 billion, and AWS operating profit was approximately $16.6 billion. Amazon.com Announces Second Quarter Results Positive Sentiment: Advertising and retail added momentum: Advertising revenue climbed 26% to nearly $20 billion, while Prime Day activity supported the North American e-commerce business. Amazon also said a $600 million tariff refund will be partly passed on to customers. Amazon Thrives On Big Q2 Positive Sentiment: AI strategy is increasingly focused on monetization: Coverage suggests Amazon is emphasizing AWS infrastructure, partnerships and customer access rather than competing exclusively to build the industry’s top proprietary model. This could improve returns on AI spending and reduce the cost of a frontier-model race. Amazon is proving you don’t need the best model Neutral Sentiment: Amazon’s Anthropic investment produced a substantial non-operating gain, boosting reported profitability, but the benefit may be volatile and does not represent recurring operating earnings. Negative Sentiment: Spending and guidance remain investor concerns: Amazon’s planned roughly $200 billion of 2026 capital expenditures is pressuring free cash flow, while its third-quarter revenue outlook of $197 billion to $202 billion is below the approximately $204.6 billion analyst consensus. Reports of costly AI deployment errors add to execution risk. Amazon Contends With Unplanned Overspending on AI Insider Buying and Selling at Amazon.com In other Amazon.com news, CEO Andrew R. Jassy sold 31,352 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the transaction, the chief executive officer owned 2,175,766 shares of the company’s stock, valued at $598,335,650. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the sale, the chief executive officer owned 471,361 shares in the company, valued at $129,624,275. This represents a 5.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,719 shares of company stock valued at $36,438,002 in the last three months. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth Several research analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating on shares of Amazon.com in a report on Thursday, June 18th. Wells Fargo & Company set a $322.00 price target on shares of Amazon.com and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald restated an “overweight” rating and set a $330.00 price objective (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Truist Financial raised their price objective on Amazon.com from $310.00 to $320.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $313.43.

Read Our Latest Analysis on Amazon.com

Amazon.com Stock Performance Shares of AMZN stock opened at $235.50 on Friday. The company has a fifty day moving average price of $245.59 and a two-hundred day moving average price of $235.97. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The stock has a market cap of $2.53 trillion, a P/E ratio of 28.17, a P/E/G ratio of 1.70 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. The company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. Amazon.com’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 7.76 EPS for the current year.

Amazon.com Company Profile (Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

See Also Five stocks we like better than Amazon.com Microsoft Just Flipped the AI Spending Narrative Overnight Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling? Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.

The broader market was also supportive, with Nasdaq futures rising 1.06% and S&P 500 futures gaining 0.47%.

Amazon reported second-quarter revenue of $200.61 billion and earnings of $5.75 per share, beating Wall Street estimates of $196.46 billion and $1.82 per share, respectively.

Amazon Web Services (AWS) revenue increased 37% year over year to $42.2 billion, marking its fastest growth in 18 quarters. Management also said its AI and custom chips businesses each surpassed annualized revenue run rates of $25 billion.

Analyst Sees AWS BreakoutEvercore ISI analyst Mark Mahaney told CNBC the results delivered the AWS acceleration investors had been waiting for, calling the quarter “the breakout that the stock needed.”

Mahaney said AWS achieved its strongest growth in 18 quarters while operating margin expanded to 39%, showing that revenue growth and profitability are improving together.

He added that stronger AWS performance could ease investor concerns about Amazon’s heavy artificial intelligence spending by demonstrating better returns on those investments.

The analyst also said Amazon’s third-quarter revenue guidance appeared softer mainly because Prime Day shifted into the second quarter, rather than due to weaker consumer demand.

The stock carries a Buy consensus rating with an average analyst price forecast of $321.69. Recent analyst actions include:

UBS: Buy (Lowers forecast to $305.00) (July 28) BMO Capital: Outperform (Raises forecast to $360.00) (July 28) Mizuho: Outperform (Lowers forecast to $320.00) (July 28) Amazon Technical AnalysisAmazon remains in a long-term uptrend. The stock trades about 9.9% above its 20-day simple moving average of $242.41 and 13.5% above its 200-day simple moving average of $234.75.

The golden cross formed in May, when the 50-day moving average moved above the 200-day moving average, continues to support the longer-term bullish trend. However, the 20-day moving average remains below the 50-day moving average, indicating near-term price action has been less consistent.

Momentum has cooled slightly. The MACD remains below its signal line and the histogram is negative, suggesting buying momentum has weakened after the recent rally.

Key resistance: $275, just below the 52-week high of $278.56. Key support: $225, an area where buyers previously stepped in during pullbacks. Benzinga Edge RankingsAmazon scores strongest on Growth (95.78), reflecting continued expansion across its businesses.

Growth: Strong (95.78) Value: Neutral (59.58) Quality: Neutral (52.60) Momentum: Weak (23.11) The rankings suggest Amazon remains fundamentally growth-driven, although momentum indicators have softened after the recent advance.

Amazon ETF ExposureAmazon is a significant holding in several exchange-traded funds, including:

Large inflows or outflows in these funds can influence trading activity in Amazon shares.

AMZN Price ActionAMZN Stock Price Activity: Amazon.com shares were up 12.11% at $264.02 during premarket trading on Friday, according to Benzinga Pro data.

Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

3.64K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN, GOOG, MSFT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Detail of the Amazon Prime streaming app on the screen of an Apple iPad Mini, taken on October 6, 2021. (Photo by Olly Curtis/Future Publishing)

Future Publishing

There is a lot of discussion in the entertainment industry press that every major major SVOD is likely to add free ad-supported streaming TV (FAST) channels to their platform right alongside their original productions and licensed programs.

The biggest rumors along that line center around Netflix, where stories arguing that FAST channels are on the way to that streamer have circulated for months.

But adding those free, ad-supported channels are no guarantee of success, and the latest example of that is in Germany and Austria, where Prime Video is shutting down its “Prime” FAST channel on August 1st, 15 months after their launch.

Prime was backended by Palo Alto, Calif.-based Wurl, which supports more than 4 billion monthly hours of viewing across hundreds of channels and more than 50 streaming platforms worldwide through cloud-based software and scheduling service.

This is just the latest example of the struggles to launch curated FAST channels designed to blend a linear television experience with original SVOD programming. One of the earliest attempts came from Netflix, which launched a series of curated FAST channels on its platform in France.

While Prime Video might still be working out its long-term strategy for curated FAST channels, it continues to aggressively pursue a much-more lucrative business: Prime Video Channels, which offers Prime members access to third-party streaming services through a unified billing process.

Prime Video just announced that it is adding a number of new third-party streaming services to subscribers in Denmark, Norway, and Switzerland. They include HBO Max, SkyShowtime, Apple TV, MGM+, Lionsgate+, MUBI, Hayu, Crunchyroll, Universal+ and BritBox.

“We are thrilled to bring add-on subscriptions to customers in Denmark, Norway, and Switzerland,” said Elisabetta Carruba, Director, Channels, EMEA. “Customers can now enjoy an unrivalled portfolio of series and movies alongside Prime Originals and Exclusives. This is an important step in our goal of becoming the number 1 entertainment destination for our customers across Europe.”

“Expanding our partnership into Norway and Denmark is an important next step as we bring HBO Max to even more Prime Video customers,” added Qaisar Rafique, EVP, Commercial Development EMEA & APAC, at Warner Bros Discovery. “Following successful launches of HBO Max on Amazon Prime Video in territories including the UK, Germany, Australia, and recently New Zealand, this expansion into new territories helps us scale with trusted partners and make it easier for customers to discover and subscribe to the premium entertainment offered by HBO Max on both Prime Video and HBO Max app and website.”

MORE FOR YOU

Negativní sentiment, který v posledních týdnech doléhal na polovodičový sektor a celý ekosystém umělé inteligence, se výrazně obrací. Silné výsledky Microsoftu a následně také Amazonu ukázaly, že rostoucí investice do AI infrastruktury se promítají do zrychlujícího růstu cloudových služeb a vyšších výnosů.

Článek se odemkne 31.07.2026 12:24

Pokračování článku je dostupné jen klientům placených služeb Patria Plus / Investor Plus případně uživatelům platformy Patria Direct. Pokud jste klientem těchto služeb, potom je nutné se Přihlásit.

V rámci placeného informačního servisu získáte přístup ke kompletnímu zpravodajství www.patria.cz bez jakýchkoliv omezení. Veškeré zprávy, komentáře a horké zprávy jsou zobrazovány terminálovou metodou (bez nutnosti obnovovat stránku) bez zpoždění a v plné verzi.

Nejen zpravodajství, ale i další služby získáte v Patria Plus / Investor Plus - sms a e-mailové zpravodajství, data z finančních trhů v reálném čase, kompletní analytický servis, rozsáhlé databáze časových řad ke stažení, prognózy vývoje a valuace, ekonomické fundamenty, nástroje a kalkulátory... více

Revenue: $200.6 billion, up 20% year-over-year.Operating Income: $27.5 billion, up 43% year-over-year.North America Segment Revenue: $116.2 billion, up 16% year

Amazon ve výsledcích za druhé čtvrtletí poskytl investorům další důkaz, že masivní investice do umělé inteligence mohou přinášet rychle rostoucí byznys i zisky. Klíčová cloudová divize Amazon Web Services výrazně překonala očekávání trhu a vykázala nejrychlejší tempo růstu od konce roku 2021. 

Akcie Amazonu výrazně posílily poté, co společnost oznámila další zrychlení růstu cloudové divize AWS. Tržby Amazon Web Services vzrostly meziročně o 37 % na 42,2 mld. USD, což představuje nejrychlejší tempo růstu od čtvrtého čtvrtletí roku 2021. Analytici přitom očekávali tržby kolem 40,6 mld. USD. AWS generuje přibližně pětinu celkových tržeb Amazonu, ale většinu provozního zisku, píše Bloomberg.

Stejně jako ostatní technologičtí giganti Amazon masivně investuje do datových center a AI čipů. Ve čtvrtletí vynaložil na investice do nemovitostí a vybavení více než 53 mld. USD. Firma zároveň zvýšila odhad kapitálových výdajů pro rok 2026 na 220 mld. USD z dosavadních 200 mld. USD. Generální ředitel Andy Jassy uvedl, že většina těchto výdajů bude směřovat do AI infrastruktury. „Jsme mimořádně dobře připraveni využít současný zlomový okamžik v oblasti umělé inteligence,“ uvedl Jassy během konferenčního hovoru po zveřejnění výsledků.

Masivní investice se nicméně promítly do volného cash flow. Amazon vykázal za posledních dvanáct měsíců záporné volné cash flow ve výši 7,6 mld. USD. Podle analytičky společnosti Emarketer Sky Canaves však investory vyšší výdaje příliš nevyděsí, protože růst AWS dále zrychluje a firma zároveň přísně kontroluje náklady v ostatních částech podnikání.

Jassy zároveň zdůraznil, že současný investiční vrchol nemusí být trvalý. Amazon nyní buduje datová centra od základů, přičemž samotné budovy mohou sloužit přibližně 30 let. Obměna hardwaru uvnitř center bude sice probíhat každých pět až šest let, ale budoucí investice by měly být nižší než současné výdaje na výstavbu nové infrastruktury.

Po zveřejnění výsledků akcie Amazonu v prodlouženém obchodování vzrostly o více než 9 %. Předtím uzavřely na ceně 235,50 USD. Od začátku roku si připsaly pouze asi 2 %.

Celkové tržby Amazonu ve druhém čtvrtletí vzrostly o 20 % na 200,6 mld. USD, zatímco trh očekával přibližně 197 mld. USD. Amazon zároveň oznámil, že jeho AI byznys i čipová divize dosáhly ročního obratu odpovídajícího 25 mld. USD, přičemž oba segmenty rostly meziročně trojciferným tempem.

Pro aktuální čtvrtletí firma očekává tržby v rozmezí 197 až 202 mld. USD a provozní zisk mezi 22,5 a 26,5 mld. USD. Analytici v průměru počítali s tržbami 203,9 mld. USD a provozním ziskem 25,1 mld. USD.

Vedle cloudu zůstává největším zdrojem tržeb e-commerce. Online prodeje vzrostly o 15 % na 70,4 mld. USD a překonaly očekávání analytiků. K růstu přispěla také červnová akce Prime Day, během níž podle Adobe utratili zákazníci napříč americkým maloobchodem 26,4 mld. USD. Amazon navíc ve čtvrtletí obdržel vratky cel ve výši 600 mil. USD. Finanční ředitel Brian Olsavsky uvedl, že část této částky bude vrácena zákazníkům.

Amazon.com, Inc. (AMZN) Q2 2026 Earnings Call Transcript

Amazon.com, Inc. delivered a strong Q2, with revenue growth accelerating to 20% and a substantial earnings beat, primarily driven by AWS performance. AWS revenues surged 37% year-over-year, with robust margin expansion, validating Amazon's heavy investment in cloud infrastructure despite near-term free cash flow pressure. AMZN's aggressive capital expenditures, totaling $54 billion in Q2, are fueling growth but have resulted in a $9 billion free cash flow burn, raising balance sheet considerations.

Today's Change

(

3.91

%) $

8.85

Current Price

$

235.50

Amazon.com (AMZN +3.91%), a global tech and retail giant, closed at $235.50, up 3.90%. The stock moved even higher in after-hours trading, gaining over 8% after a Q2 earnings beat that showed strong demand for its artificial intelligence (AI) cloud services. Trading volume reached 78.7 million shares, coming in about 66% above its three-month average of 47.3 million shares. Amazon.com IPO'd in 1997 and has grown 193,130% since going public.

How the markets moved todayThe S&P 500 (^GSPC +1.66%) closed at 7,438, up 1.66%, while the Nasdaq Composite (^IXIC +2.78%) finished at 25,122, up 2.78%. Among e-commerce and consumer retail peers, Walmart closed down 2.73% to $111.10, and Costco Wholesale fell 2.04% to finish at $954.17.

What this means for investorsAmazon is one of several Magnificent Seven firms to report earnings this week, putting AI spending and monetization under the spotlight. Microsoft, which maintained its AI expenditure, soared today, while Meta Platforms, which refused to be drawn on its capex outlook, tumbled. It looks like Amazon could follow Microsoft’s trajectory when markets open tomorrow.

Its revenue increased an impressive 20% year-on-year to $200.61 billion and beat analyst expectations. The same can be said for its booming Amazon Web Services cloud revenues, which go some way to reassure investor about high capex.

However, its spending may still come under closer scrutiny. It reported negative free cash flow of $7.6 billion in the year to June 30 and spent $54.2 billion on property and equipment in Q2, taking its spending for the year to $173 billion. Even so, crucially, Amazon continues to innovate and dominate several key sectors, including its cloud services. Moreover, unlike some of its competitors, its AI investments are already starting to pay off, which bodes well for the stock in the long term.

Emma Newbery has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Costco Wholesale, Meta Platforms, Microsoft, and Walmart. The Motley Fool has a disclosure policy.

Gil Luria, D.A. Davidson's head of technology research, reacts to Amazon Web Services' revenue growth and discusses the outlook for Amazon.com Inc. on "Bloomberg The Close.

Amazon disclosed Thursday that it has received $600 million in tariff refunds after the Supreme Court ruled that many of President Donald Trump's levies were illegal, and it expects to return some of that cash to customers.

"We are participating in the tariff refund process and, as I mentioned earlier, we received approximately $600 million in Q2," Brian Olsavsky, Amazon's finance chief, said on the company's earnings call.

In February, the Supreme Court invalidated Trump's tariffs imposed under the International Emergency Economic Powers Act of 1977, forcing the government to pay back duties to companies that imported goods into the U.S. that were hit by tariffs.

Major companies, including Apple, Walmart, Costco, Home Depot and General Motors, all said they would apply for refunds. Trump told CNBC in April he'd "remember" companies that don't seek refunds, when asked whether companies, including Amazon, might be avoiding doing so because they're worried about offending him.

Apple said Thursday its earnings per share were lifted 5%, or 11 cents, by tariff refunds in the third quarter.

Amazon previously hadn't said whether it intended to apply for the refunds. In May, consumers filed a class action lawsuit in federal court in Seattle, arguing that they were owed refunds for paying tariff-inflated prices, and alleging the company wasn't seeking refunds to "curry favor" with Trump.

Read more CNBC tech newsAmazon posts 'booming' cloud growth, hikes 2026 capex to $220 billionApple earnings: Revenue tops estimates, but supply constraints weigh on guidanceChina's open-weight model lead exposes America's AI blind spotNew details in the OpenAI Hugging Face hack show how far agents will go: 'It's now remarkably easy'Amazon, last April, landed in hot water with the White House after it was reported that the company planned to display the cost of Trump's tariffs next to some products on its site. Trump personally called Amazon founder and executive chairman Jeff Bezos to complain about the plan, NBC News reported.

On Thursday, Olsavsky said Amazon was issued a "limited" refund amount because it worked to order and preposition inventory in anticipation of the tariffs.

"Second, we are not the importer of record for the large majority of items sold in our store," he said.

Many of Amazon's third-party sellers who import their goods from overseas were forced to raise prices due to the levies, and have since applied to receive tariff refunds. Outside sellers account for more than 60% of goods sold on Amazon's marketplace.

Olsavsky said some of the company's tariff refunds will be returned to shoppers.

"We've identified a limited set of circumstances where we can trace that we've passed specific import charges onto customers, and when we receive those refunds, we will proactively contact affected customers and automatically issue refunds to them," Olsavsky said. "Otherwise, like other large retailers, we'll utilize refunds to continue to invest in low prices for customers."

watch now

By You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Amazon CEO Andy Jassy. Andrej Sokolow/picture alliance via Getty Images Amazon's earnings on Thursday highlighted a surprising idea gaining traction across Silicon Valley: You don't need the best models to win in AI.

The company reported blockbuster results, including a 37% jump in revenue from Amazon Web Services. Those gains came from the cloud giant running many different AI models from leading providers such as Anthropic and OpenAI.

In contrast, Amazon's efforts to build its own models are in somewhat of a mess, as Business Insider reported earlier this week.

On Thursday, Amazon CEO Andy Jassy suggested this isn't a problem. During a call with analysts he said there won't be a single AI model that dominates the industry.

Instead, Jassy explained, customers increasingly want to use multiple leading models, a trend that's helped fuel the rapid growth of Amazon Bedrock, the company's platform for accessing foundation models.

"AWS and Amazon can have a wildly successful business without its own frontier model," Jassy said. "There is not going to be one model to rule the world."

This is a big change from what's been guiding much of the AI market since it exploded in 2022 on the back of ChatGPT. Companies have raced to develop the most powerful models, spending huge sums of money on training and other expensive development techniques.

Now, though, the race has evolved to be less about raw performance and more about building and running efficient models, so-called intelligence per dollar. This potentially suits Amazon more than some other AI rivals.

Amazon has never prioritized its own models. It did develop in-house offerings via the Nova range of models, but they struggled to come close to frontier.

More recently, the company has been overhauling its AI strategy, winding down most of the existing Nova line while shifting resources toward a new frontier-model initiative, Business Insider reported earlier this week.

Jassy's remarks suggest the company's long-term strategy is not to rely exclusively on its own models, but to make AWS the platform where customers can access the industry's leading AI systems — whether to not those come from Amazon.

Rather than trying to win solely on model performance, Amazon has focused on making Bedrock the centerpiece of it AI strategy. Last year, Jassy said AWS was "building Bedrock to be the biggest inference engine in the world" and predicted the service could eventually rival EC2, AWS's flagship cloud computing business.

During Thursday's call, Jassy said companies building AI applications want access to a wide range of models because different systems will surpass one another over time and excel at different tasks. That dynamic, he said, gives Bedrock a competitive advantage.

"If you're a company that's building important AI applications, you want to make sure that you have the ability to use all the available models," Jassy said. "They're going to each leapfrog each other at different times."

At the same time, Jassy made clear Amazon remains committed to developing its own AI models.

He said having a leading model would give the company greater control over costs for both its own consumer applications and AWS customers, while allowing Amazon to prioritize features important to customers and move faster without relying on outside providers.

Alexa, for example, has been reducing its reliance on Anthropic's costly models in favor of Amazon's own AI models to lower costs, Business Insider previously reported.

Jassy predicted that within the next few years there will be "at least a half dozen models that are comparably good to each other."

"They'll all be on Bedrock," he said, "and one of them will be ours."

Have a tip? Contact this reporter via email at [email protected] or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

Read next

Eugene Kim You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Eugene is Business Insider’s Chief Tech Correspondent, where he leads coverage of Amazon. His reporting spans the company’s retail operations, AWS, Alexa, and its secretive internal work culture.Previously, he worked at CNBC, Fortune Magazine Korea, and Japan's Yomiuri Shimbun. He holds degrees from NYU and Columbia University’s Graduate School of Journalism.In 2022, Eugene broke a story uncovering Amazon’s practice of deceptively enrolling customers in Prime and deliberately making cancellation difficult. A year later, the Federal Trade Commission sued the company, citing his reporting. That case culminated in a record $2.5 billion settlement in 2025.His reporting has earned multiple honors, including the SF Press Club’s Bay Area Journalism Award and SPJ NorCal’s Excellence in Journalism Award.Eugene lives in the Bay Area. Contact him via email at [email protected], or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely. ExpertiseAmazon, Jeff Bezos, Andy Jassy, e-commerce, and cloud computing.Popular ArticlesAmazon:Internal Amazon emails give an exclusive look at how CEO Andy Jassy has started to run the company, with obsessive attention to the retail business and what some employees feel is micromanagingAndy Jassy will be the next CEO of Amazon. Insiders dish on what it's like to work for Jeff Bezos' successor, who built AWS into a $40 billion business.Internal documents show Amazon has for years knowingly tricked people into signing up for Prime subscriptions. 'We have been deliberately confusing,' former employee says.Inside Amazon's flailing brick-and-mortar ambitions: missed projections, pressure to cut costs, and a war with Whole FoodsInside Amazon's complex employee-review system, where workers feel left in the dark and managers expect to give 5% of reports bad reviewsAfter 28 years, 'Day 2' finally arrives at AmazonAWS, Alexa, healthcare:Inside Amazon's struggle to break into the lucrative market for SaaS business applications, including an internal pitch to buy $38 billion HubSpotInside Amazon's struggle to crack Nvidia's AI-chip dominanceAmazon's AI data center dream runs into the reality of 'zombie' facilities, higher costs, and labor shortagesAmazon is gutting its voice assistant, Alexa. Employees describe a division in crisis and huge losses on 'a wasted opportunity.'Amazon is working on a new 'Remarkable Alexa,' but internal politics and technical issues plague the projectAmazon projected huge losses from its healthcare business in 2024, but strong sales growth, internal document reveals

Amazon Artificial Intelligence

Amazon.com, Inc. delivered a standout Q2 with accelerating e-commerce growth, robust AWS performance, and expanding margins. Optionalities like Amazon Now, robotics, and LEO satellites are maturing, strengthening AMZN's ecosystem and supporting high revenue growth. AWS posted 37% YoY revenue growth and 39.4% margin, outpacing Microsoft's cloud growth and underscoring strong AI and chip tailwinds.

Image: Bigstock

Read MoreHide Full Article

Key Takeaways Markets Gained After a Steep Pullback YesterdayAMZN Posted $200B in Quarterly Revs, Set RecordsAAPL Quietly Set Records of Its Own in Fiscal Q3 Thursday, July 30th, 2026

The stock market bounced back solidly today after a rough Hump Day trade. Companies who performed well in quarterly earnings, like Microsoft (MSFT - Free Report) saw strong gains today, while others who disappointed, like Meta (META - Free Report) in its plans for AI (or lack thereof), fell off. The Dow gained +613 points, +1.19%, while the S&P 500 grew +121 points, +1.66%. The tech-heavy Nasdaq saw lots of big winners, +679 or +2.78%, while the small-cap Russell 2000 rose +39, +1.37%.

The volatility in day-to-day trading continues; we’ve been on something of a roller-coaster ride as of early June. Big moving pieces like AI investment and developments in the Iran war have a way of swaying market sentiment. But despite plenty of uncertainty on some of the bigger economic issues, Q2 earnings season rolls along quite successfully to this point.

Amazon and Apple Report Earnings After the Bell
Amazon (AMZN - Free Report) became the latest company to report a whopping $200 billion in quarterly revenues this afternoon — well, $200.6 billion, to be precise — when it reported fiscal Q4 results after today’s close. But the Big Kahuna was the earnings per share of $5.75 obliterating the Zacks consensus $1.83. Prime Day being moved up to Q2 may have played a role in this, as well as Amazon’s weaker current-quarter revenue guide.

Still, it amounts to the fastest growth Amazon has had in 18 quarters, thanks to stellar +36.7% growth in Amazon Web Services (AWS) to $42.2 billion in the quarter, +13.69% margins setting a new record high and Advertising now making up +38% on Amazon’s total sales. The company announced negative free cash flow of -$7.6 billion, but when you’re bringing in $200 billion in three months, stuff like that seems rather manageable. AMZN shares are up +7% in late trading.

Apple (AAPL - Free Report) reported fiscal Q3 earnings of $2.02 per share, a nice beat above $1.88 analysts were expecting and +29% year over year. Revenues of $109.4 billion surpassed the $108.75 billion in the Zacks consensus. It’s another record quarter for the iPhone maker, even if unit totals are no longer part of Apple’s quarterly numbers. Guidance will presumably take place on the conference call. AAPL shares have sold off -4.4% on the news.

Questions or comments about this article and/or author? Click here>>

Published in e-commerce earnings tech-stocks

-

Net sales increased 20% year-over-year
Operating income was $27.5 billion, up 43% year-over-year
AWS net sales increased 37%—its fastest growth in 18 quarters—to a $169 billion annualized revenue run rate

SEATTLE--(BUSINESS WIRE)--Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2026.

Net sales increased 20% to $200.6 billion in the second quarter, compared with $167.7 billion in second quarter 2025. Excluding the $0.1 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 20% compared with second quarter 2025. North America segment sales increased 16% year-over-year to $116.2 billion. International segment sales increased 15% year-over-year to $42.2 billion. AWS segment sales increased 37% year-over-year to $42.2 billion. Operating income increased to $27.5 billion in the second quarter, compared with $19.2 billion in second quarter 2025. North America segment operating income was $9.1 billion, compared with $7.5 billion in second quarter 2025. International segment operating income was $1.7 billion, compared with $1.5 billion in second quarter 2025. AWS segment operating income was $16.6 billion, compared with $10.2 billion in second quarter 2025. Net income increased to $62.6 billion in the second quarter, or $5.75 per diluted share, compared with $18.2 billion, or $1.68 per diluted share, in second quarter 2025. Second quarter 2026 net income includes non-operating pre-tax other income of $53.4 billion, primarily from our investments in Anthropic. Operating cash flow increased 33% to $161.4 billion for the trailing twelve months, compared with $121.1 billion for the trailing twelve months ended June 30, 2025. Free cash flow decreased to an outflow of $7.6 billion for the trailing twelve months, driven primarily by a year-over-year increase of $66.1 billion in purchases of property and equipment, net of proceeds from sales and incentives. This increase primarily reflects investments in artificial intelligence. This compares to free cash flow inflow of $18.2 billion for the trailing twelve months ended June 30, 2025. “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,” said Andy Jassy, President and CEO, Amazon. “In Stores, we again set record delivery speeds for Prime members in the first half of the year—over 40% more items delivered same-day or overnight, with Grocery and Everyday Essentials growing meaningfully faster than the rest of the business. And, Advertising had another strong quarter with 26% year-over-year growth. There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond.”

Some other highlights since the company’s last earnings announcement include that Amazon:

Exceeded a $25 billion annual revenue run rate for AWS’s AI business, growing triple-digit percentages year-over-year. Exceeded a $25 billion annual revenue run rate for its chips business, growing triple-digit percentages year-over-year. Continued gaining momentum with Trainium, with the two leading AI labs in the world, Anthropic and OpenAI, making multi-year, multi-gigawatt commitments; an increasing number of AI start-ups adopting Trainium, including unicorns like NEURA Robotics and Odyssey; and commitments from other startups like TwelveLabs, Decart, Poolside, Karakuri, Inc., Metagenomi Therapeutics, Inc., NetoAI, and Splash Music, as well as larger companies like Uber and Pinterest. Released Graviton5 into general availability. Graviton delivers up to 30 to 40% better price-performance than comparable instances, and Graviton5 delivers up to 25% better compute performance than Graviton4. Graviton is used by 98% of the top 1,000 EC2 customers, revenue commitments have increased nearly 3x quarter-over-quarter, and Graviton5 is growing nearly 2x faster than Graviton4 did. Added 10+ fully managed foundation models to Amazon Bedrock, including OpenAI’s GPT-5.6, Anthropic’s Claude Opus 5, Google DeepMind’s Gemma 4, and SpaceXAI’s Grok 4.3. Amazon Bedrock provides the best selection of leading models, at superior performance, and with the governance and security controls that companies need, and it’s continuing to grow quickly—hundreds of thousands of customers now use Bedrock, more customers were added in the last six months than in the first two years after launch, and customers spent more in Q2 than all prior quarters combined. Previewed AWS Continuum, which discovers, prioritizes, validates, and remediates code vulnerabilities. It starts by ingesting the backlog of vulnerabilities a team already has, and then leverages the new frontier models to run comprehensive scans. Continuum uses agents and each company’s own business context to prioritize what matters, then validates vulnerabilities in a sandbox and recommends the fix. Added new capabilities to Bedrock AgentCore, which provides the building blocks that companies need to quickly and securely deploy and operate agents at scale. New capabilities include Payments (so agents can execute transactions autonomously), Web Search (to ground agents’ knowledge without having to leave AWS), and Harness, which further speeds up how fast customers can stitch together all the infrastructure they need for their agents. Made Amazon Quick—an intelligent AI work companion that helps manage, search, and automate digital workloads across email, calendar, local or cloud files, and custom workflows—even more capable, adding autonomous agents that customers set up in plain language to run continuously in the background and carry out multi-step tasks; a personalized activity feed that pulls email, messages, calendar, and tasks into one prioritized view; and 16 new integrations, including Adobe, Moody’s, and Snowflake. Quick manages across leading SaaS tools like Slack, Salesforce, Jira, Teams, and ServiceNow; enforces a company’s existing access controls; and takes actions like scheduling meetings, drafting and sending email, updating a CRM record, building a dashboard, and more. Made its spec-drive coding agent, Kiro, available on iOS so developers can now kick off a new project, monitor progress, steer an agent, and interact with Kiro sessions from their phone, desktop, command line, and the web. Kiro is up to 50% more cost-effective than alternatives and tripled in usage quarter-over-quarter. Added new capabilities to AWS DevOps Agent, an always-available software operations teammate that helps developers ship software safely and reliably, including Release Management to perform readiness reviews of code changes and autonomously test releases to spot potential issues before they go live. Launched serverless infrastructure for agentic AI that scales on demand, including: Lambda MicroVMs, a new flavor of the popular AWS Lambda serverless compute service that not only offers instant start times with the ability to scale all the way up or down depending on demand, but also now provides a stateful runtime with sessions that can last up to 8 hours—ideal for long-running agent loops, multi-step pipelines, or persistent database engines. Next-generation OpenSearch Serverless, which gives agents fast access to search across massive volumes of data, scales capacity up to 20x faster than the previous generation, and offers up to 60% cost savings versus provisioning for peak. Purpose-built log analytics engine for Amazon OpenSearch Service, designed to keep pace with the vast increase in logs being produced by agentic workloads. It delivers up to 4x better price performance compared to the existing general-purpose engine, up to 2x higher data ingestion on the same hardware, and up to 2x faster analytical queries, while retaining up to 3x more data at the same cost—enabling teams to retain and analyze more observability data without choosing between insight and budget. Announced an investment of $1 billion to create AWS Forward Deployed Engineering, a team of AI engineers embedded directly with customers to co-develop and deploy agentic AI solutions in days rather than months. Early customers include Allen Institute, Cox Automotive, the NBA, the NFL, Ricoh, and Southwest Airlines. Announced general availability of AWS Secret Cloud for Industry, giving defense contractors a faster, more secure path to classified innovation, with Northrop Grumman first to run classified workloads on the platform, and committed up to $1 billion in cloud credits to accelerate U.S. Intelligence Community cloud migration and modernization. Announced its global data centers are over 7x more water-efficient than the industry average. Amazon also reached 75% progress toward its goal to be water positive across global data center operations by 2030, and achieved water-positive status across its direct operations in India ahead of its 2027 target. Announced new AWS agreements with Warner Bros. Discovery, Vodafone, Siemens Energy, Ryanair, Pinterest, Snowflake, Moody’s, Danske Bank, WNBA, Pennymac, Fiserv, WPP Enterprise Solutions, Vonage, Recursive, fal, Chai Discovery, Odyssey, TwelveLabs, Reactor, OpenRouter, Dash0, New York State Office of Information Technology Services, State of Iowa, University of South Florida, and The University of Utah. Continued to expand its ultra-fast delivery service, Amazon Now, which offers delivery in 30 minutes or less on thousands of everyday essentials—adding 80 new cities and towns across the U.S. and several major cities in Egypt. Amazon Now is available in nine countries and over 250 cities and towns globally, and customers love it, with over 80% growth in gross sales and units sold quarter-over-quarter and over 60% more customers served quarter-over-quarter. Added millions of new products to its selection, including over 700,000 from notable brands like ADT Blu, Bobbi Brown, BROWN GIRL Jane, CR7 Underwear, LeGer, Mamonde, OLIVA COSMETICS, Rabanne, and Ted Baker. Brought together Rufus and Alexa+ into Alexa for Shopping, an agentic AI shopping assistant that offers personalized recommendations, product comparisons, price history, and the ability to automate shopping through features like Price Alerts and Auto-Buy. Worldwide customer adoption and engagement accelerated in Q2, with active users close to doubling and interactions up over 5x year-over-year. Launched Amazon Supply Chain Services so any business can move, store, and deliver everything from raw materials to finished products using the same supply chain that supports Amazon, with Procter & Gamble, 3M, Lands’ End, and American Eagle Outfitters among the first customers. Reached $60 billion in annualized gross sales for Amazon Business and continued to expand selection—adding nearly 30% more items compared to last year, including Same-Day Delivery of fresh groceries for businesses in 2,300+ U.S. cities and towns. Introduced the next-generation of Proteus, an autonomous robot that assists Amazon fulfillment center employees by moving goods up to 1,300 pounds, reducing heavy lifting and further increasing safety. Using AI, employees can now direct Proteus with plain, conversational language. Grew the number of new customers for Amazon Pharmacy by more than 2x in the first six months of the year, and same-day prescription deliveries nearly 5x. Also saved customers nearly $250 million so far this year in out-of-pocket costs, up more than 400% year-over-year, through manufacturer discounts applied automatically on an expanded selection of widely prescribed medications. Expanded Ads Agent—an AI-powered tool that simplifies planning, launching, and managing advertising campaigns and turns hours of setup and targeting into minutes—to 11 new countries so far this year. Advertisers using Ads Agent see 8% lower cost-per-impression and 6% lower cost-per-acquisition than those that don’t use it. Expanded Alexa+ to Germany, Austria, France, and Brazil, with hundreds of millions of customers now using new Alexa experiences, and that number growing every month. Alexa continues to drive meaningful momentum for the business, including in the U.S., where customers who use Alexa for Shopping spend an average of over 40% more per order than those who don’t, and customers who have tried Alexa+ are signing up for Prime at a nearly 25% higher rate. Drew 36 million viewers globally for the series premiere of Off Campus on Prime Video in its first 12 days, becoming Prime Video’s No. 3 top-viewed series debut ever. Delivered strong viewership for inaugural season of NBA on Prime Video, with a peak of 6.5 million U.S. viewers for Game 7 of the Eastern Conference Semifinals (outperforming Game 7 on broadcast in 2025). In Europe, viewership of the NBA more than doubled year-over-year on Prime Video, with the highest average viewership on record. Averaged 2.3 million viewers during the second season of NASCAR on Prime Video and attracted the youngest audience the last two years among NASCAR broadcasters since 2017. Completed four additional launches for Amazon Leo, its low Earth orbit satellite network, bringing the total constellation to nearly 400 satellites in orbit—enough to begin initial satellite internet service this year. Received approval from the National Highway Traffic Safety Administration (Part 555 Exemption) for Zoox to charge for rides—the first purpose-built robotaxi to receive this exemption—paving the way for Zoox to begin offering paid commercial service to customers. Supported relief efforts following earthquakes in Venezuela with its Amazon Disaster Relief program, donating and delivering more than 650,000 emergency supplies to more than a dozen nonprofits and establishing weekly humanitarian relief flights to Caracas in a first-of-its-kind collaboration with Airlink, the U.S. State Department, and World Food Programme, delivering approximately 120 tons of supplies. Financial Guidance
The following forward-looking statements reflect Amazon.com’s expectations as of July 30, 2026, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates and energy prices, changes in global economic and geopolitical conditions, tariff and trade policies, resource and supply volatility, including for memory chips, and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies, and the various factors detailed below.

Third Quarter 2026 Guidance

Net sales are expected to be between $197.0 billion and $202.0 billion, or to grow between 9% and 12% compared with third quarter 2025. Excluding the impact of Prime Day in both 2025 and 2026, third quarter 2026 year-over-year growth would be nearly 400 basis points higher. This guidance anticipates an unfavorable impact of approximately 80 basis points from foreign exchange rates. Operating income is expected to be between $22.5 billion and $26.5 billion, compared with $17.4 billion in third quarter 2025. This guidance assumes, among other things, no impact from energy derivative contract remeasurements, and that no additional business acquisitions, restructurings, or legal settlements are concluded. Conference Call Information
A conference call will be webcast live today at 2:00 p.m. PT/5:00 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company’s financial and operating results.

Forward-Looking Statements
These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, security incidents, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent filings.

Additional Information
Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.

About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

AMAZON.COM, INC.

Consolidated Statements of Cash Flows

(in millions)

(unaudited)

  Three Months Ended

June 30,

Six Months Ended

June 30,

Twelve Months Ended

June 30,

2025

2026

2025

2026

2025

2026

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD

$

69,893

$

104,692

$

82,312

$

90,106

$

71,673

$

61,453

OPERATING ACTIVITIES:

Net income

18,164

62,647

35,291

92,902

70,623

135,281

Adjustments to reconcile net income to net cash from operating activities:

Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other

15,227

19,988

29,489

38,933

58,562

75,200

Stock-based compensation

6,534

6,038

10,223

10,070

20,551

19,314

Non-operating expense (income), net

(1,258

)

(53,381

)

(4,075

)

(69,013

)

(4,702

)

(79,818

)

Deferred income taxes

11

17,691

518

30,489

(2,407

)

41,441

Changes in operating assets and liabilities:

Inventories

(4,054

)

(1,818

)

(5,276

)

(196

)

(5,851

)

2,078

Accounts receivable, net and other

(1,125

)

(8,204

)

122

(13,954

)

(4,602

)

(21,409

)

Other assets

(2,971

)

(4,717

)

(6,373

)

(8,528

)

(15,100

)

(17,787

)

Accounts payable

7,058

9,442

(1,985

)

705

6,264

13,921

Accrued expenses and other

(4,952

)

(2,018

)

(9,013

)

(10,063

)

(4,842

)

(6,069

)

Unearned revenue

(119

)

(281

)

609

74

2,641

(749

)

Net cash provided by (used in) operating activities

32,515

45,387

49,530

71,419

121,137

161,403

INVESTING ACTIVITIES:

Purchases of property and equipment

(32,183

)

(54,208

)

(57,202

)

(98,411

)

(107,656

)

(173,028

)

Proceeds from property and equipment sales and incentives

815

1,132

1,579

2,101

4,703

4,021

Acquisitions, net of cash acquired, non-marketable investments, and other, net

(1,700

)

(24,359

)

(1,652

)

(39,767

)

(4,809

)

(41,956

)

Sales and maturities of marketable securities

11,441

24,196

19,178

41,882

30,924

67,090

Purchases of marketable securities

(17,797

)

(26,006

)

(31,130

)

(49,262

)

(46,731

)

(72,902

)

Net cash provided by (used in) investing activities

(39,424

)

(79,245

)

(69,227

)

(143,457

)

(123,569

)

(216,775

)

FINANCING ACTIVITIES:

Proceeds from short-term debt, and other

2,093

9,368

3,908

15,386

8,187

20,798

Repayments of short-term debt, and other

(1,392

)

(9,573

)

(3,474

)

(15,682

)

(7,901

)

(20,634

)

Proceeds from long-term debt

—

13,557

746

66,998

746

81,925

Repayments of long-term debt

(2,751

)

(2,752

)

(2,751

)

(2,752

)

(7,434

)

(5,022

)

Principal repayments of finance leases

(411

)

(395

)

(821

)

(863

)

(1,556

)

(1,599

)

Principal repayments of financing obligations

(78

)

(59

)

(194

)

(174

)

(694

)

(308

)

Net cash provided by (used in) financing activities

(2,539

)

10,146

(2,586

)

62,913

(8,652

)

75,160

Foreign currency effect on cash, cash equivalents, and restricted cash

1,008

(53

)

1,424

(54

)

864

(314

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(8,440

)

(23,765

)

(20,859

)

(9,179

)

(10,220

)

19,474

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD

$

61,453

$

80,927

$

61,453

$

80,927

$

61,453

$

80,927

SUPPLEMENTAL CASH FLOW INFORMATION:

Cash paid for interest on debt, net of capitalized interest

$

523

$

736

$

759

$

1,010

$

1,668

$

1,709

Cash paid for operating leases

3,758

3,489

7,320

7,804

13,485

15,522

Cash paid for interest on finance leases

72

85

143

187

284

339

Cash paid for interest on financing obligations

52

50

107

126

212

215

Cash paid for income taxes, net of refunds

4,761

2,655

5,638

3,978

11,788

6,635

Assets acquired under operating leases

4,621

7,670

8,942

13,909

16,702

24,897

Property and equipment acquired under finance leases, net of remeasurements and modifications

937

563

991

2,128

1,622

4,048

Increase (decrease) in property and equipment acquired but not yet paid

(1,600

)

10,700

1,508

20,620

5,376

29,267

  AMAZON.COM, INC.

Consolidated Statements of Operations

(in millions, except per share data)

(unaudited)

  Three Months Ended

June 30,

Six Months Ended

June 30,

2025

2026

2025

2026

Net product sales

$

68,246

$

77,602

$

132,216

$

148,906

Net service sales

99,456

123,004

191,153

233,219

Total net sales

167,702

200,606

323,369

382,125

Operating expenses:

Cost of sales

80,809

95,778

157,785

183,241

Fulfillment

25,976

29,633

50,569

56,922

Technology and infrastructure

27,166

33,158

50,160

62,725

Sales and marketing

11,416

11,698

21,179

22,012

General and administrative

2,965

2,788

5,593

5,375

Other operating expense (income), net

199

90

507

537

Total operating expenses

148,531

173,145

285,793

330,812

Operating income

19,171

27,461

37,576

51,313

Interest income

1,085

1,295

2,151

2,430

Interest expense

(516

)

(1,314

)

(1,057

)

(2,114

)

Other income (expense), net

1,117

53,415

3,866

69,062

Total non-operating income

1,686

53,396

4,960

69,378

Income before income taxes

20,857

80,857

42,536

120,691

Provision for income taxes

(2,678

)

(18,199

)

(7,231

)

(27,759

)

Equity-method investment activity, net of tax

(15

)

(11

)

(14

)

(30

)

Net income

$

18,164

$

62,647

$

35,291

$

92,902

Basic earnings per share

$

1.71

$

5.82

$

3.32

$

8.64

Diluted earnings per share

$

1.68

$

5.75

$

3.27

$

8.53

Weighted-average shares used in computation of earnings per share:

Basic

10,637

10,769

10,620

10,756

Diluted

10,806

10,903

10,800

10,889

  AMAZON.COM, INC.

Consolidated Statements of Comprehensive Income

(in millions)

(unaudited)

  Three Months Ended

June 30,

Six Months Ended

June 30,

2025

2026

2025

2026

Net income

$

18,164

$

62,647

$

35,291

$

92,902

Other comprehensive income (loss):

Foreign currency translation adjustments, net of tax of $(142), $(66), $(208), and $(79)

3,314

(799

)

4,849

(1,563

)

Unrealized gains (losses) on net investment hedging instruments, net of tax of $0, $(69), $0, and $(45)

—

229

—

144

Available-for-sale debt securities:

Change in net unrealized gains (losses), net of tax of $(12), $(13,695), $(23), and $(14,035)

40

41,988

77

42,814

Less: reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $5, $0, $814, and $1,142

(17

)

—

(2,471

)

(3,337

)

Net change

23

41,988

(2,394

)

39,477

Other, net of tax of $(1), $1, $0, and $(1)

(3

)

1

(1

)

(1

)

Total other comprehensive income (loss)

3,334

41,419

2,454

38,057

Comprehensive income

$

21,498

$

104,066

$

37,745

$

130,959

  AMAZON.COM, INC.

Segment Information

(in millions)

(unaudited)

  Three Months Ended

June 30,

Six Months Ended

June 30,

2025

2026

2025

2026

North America

Net sales

$

100,068

$

116,177

$

192,955

$

220,320

Operating expenses

92,551

107,054

179,597

202,930

Operating income

$

7,517

$

9,123

$

13,358

$

17,390

International

Net sales

$

36,761

$

42,197

$

70,274

$

81,986

Operating expenses

35,267

40,480

67,763

78,845

Operating income

$

1,494

$

1,717

$

2,511

$

3,141

AWS

Net sales

$

30,873

$

42,232

$

60,140

$

79,819

Operating expenses

20,713

25,611

38,433

49,037

Operating income

$

10,160

$

16,621

$

21,707

$

30,782

Consolidated

Net sales

$

167,702

$

200,606

$

323,369

$

382,125

Operating expenses

148,531

173,145

285,793

330,812

Operating income

19,171

27,461

37,576

51,313

Total non-operating income

1,686

53,396

4,960

69,378

Provision for income taxes

(2,678

)

(18,199

)

(7,231

)

(27,759

)

Equity-method investment activity, net of tax

(15

)

(11

)

(14

)

(30

)

Net income

$

18,164

$

62,647

$

35,291

$

92,902

Segment Highlights:

Y/Y net sales growth:

North America

11

%

16

%

9

%

14

%

International

16

15

10

17

AWS

17

37

17

33

Consolidated

13

20

11

18

Net sales mix:

North America

60

%

58

%

60

%

58

%

International

22

21

22

21

AWS

18

21

18

21

Consolidated

100

%

100

%

100

%

100

%

  AMAZON.COM, INC.

Consolidated Balance Sheets

(in millions, except per share data)

  December 31, 2025

June 30, 2026

(unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

86,810

$

78,213

Marketable securities

36,219

44,775

Inventories

38,325

38,184

Accounts receivable, net and other

67,729

88,092

Total current assets

229,083

249,264

Property and equipment, net

357,025

446,046

Operating leases

86,054

92,743

Goodwill

23,273

23,504

Other assets

122,607

284,132

Total assets

$

818,042

$

1,095,689

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

121,909

$

147,440

Accrued expenses and other

75,520

73,406

Unearned revenue

20,576

20,428

Total current liabilities

218,005

241,274

Long-term lease liabilities

87,339

94,338

Long-term debt

65,648

128,894

Other long-term liabilities

35,985

79,563

Commitments and contingencies

Stockholders’ equity:

Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding)

—

—

Common stock ($0.01 par value; 100,000 shares authorized; 11,246 and 11,298 shares issued; 10,731 and 10,783 shares outstanding)

112

113

Treasury stock, at cost

(7,837

)

(7,837

)

Additional paid-in capital

140,024

149,619

Accumulated other comprehensive income (loss)

28,230

66,287

Retained earnings

250,536

343,438

Total stockholders’ equity

411,065

551,620

Total liabilities and stockholders’ equity

$

818,042

$

1,095,689

  AMAZON.COM, INC.

Supplemental Financial Information and Business Metrics

(in millions, except per share data)

(unaudited)

  Q1 2025

Q2 2025

Q3 2025

Q4 2025

Q1 2026

Q2 2026

Y/Y %

Change

Cash Flows and Shares

Operating cash flow -- trailing twelve months (TTM)

$

113,903

$

121,137

$

130,691

$

139,514

$

148,531

$

161,403

33

%

Operating cash flow -- TTM Y/Y growth

15

%

12

%

16

%

20

%

30

%

33

%

N/A

Purchases of property and equipment, net of proceeds from sales and incentives -- TTM

$

87,978

$

102,953

$

115,903

$

128,320

$

147,299

$

169,007

64

%

Free cash flow -- TTM (1)

$

25,925

$

18,184

$

14,788

$

11,194

$

1,232

$

(7,604

)

(142

)%

Common shares and stock-based awards outstanding

10,876

10,952

10,955

10,953

10,949

11,027

1

%

Common shares outstanding

10,613

10,660

10,687

10,731

10,754

10,783

1

%

Stock-based awards outstanding

263

292

268

222

195

244

(16

)%

Stock-based awards outstanding -- % of common shares outstanding

2.5

%

2.7

%

2.5

%

2.1

%

1.8

%

2.3

%

N/A

Results of Operations

Worldwide (WW) net sales

$

155,667

$

167,702

$

180,169

$

213,386

$

181,519

$

200,606

20

%

WW net sales -- Y/Y growth, excluding F/X

10

%

12

%

12

%

12

%

15

%

20

%

N/A

WW net sales -- TTM

$

650,313

$

670,038

$

691,330

$

716,924

$

742,776

$

775,680

16

%

WW net sales -- TTM Y/Y growth, excluding F/X

11

%

11

%

11

%

12

%

13

%

15

%

N/A

Operating income

$

18,405

$

19,171

$

17,422

$

24,977

$

23,852

$

27,461

43

%

F/X impact -- favorable (unfavorable)

$

53

$

153

$

129

$

23

$

(33

)

$

(105

)

N/A

Operating income -- Y/Y growth (decline), excluding F/X

20

%

30

%

(1

)%

18

%

30

%

44

%

N/A

Operating margin -- % of WW net sales

11.8

%

11.4

%

9.7

%

11.7

%

13.1

%

13.7

%

N/A

Operating income -- TTM

$

71,691

$

76,190

$

76,201

$

79,975

$

85,422

$

93,712

23

%

Operating income -- TTM Y/Y growth, excluding F/X

51

%

40

%

25

%

16

%

19

%

23

%

N/A

Operating margin -- TTM % of WW net sales

11.0

%

11.4

%

11.0

%

11.2

%

11.5

%

12.1

%

N/A

Net income

$

17,127

$

18,164

$

21,187

$

21,192

$

30,255

$

62,647

245

%

Net income per diluted share

$

1.59

$

1.68

$

1.95

$

1.95

$

2.78

$

5.75

242

%

Net income -- TTM

$

65,944

$

70,623

$

76,482

$

77,670

$

90,798

$

135,281

92

%

Net income per diluted share -- TTM

$

6.13

$

6.55

$

7.08

$

7.17

$

8.37

$

12.44

90

%

  AMAZON.COM, INC.

Supplemental Financial Information and Business Metrics

(in millions)

(unaudited)

  Q1 2025

Q2 2025

Q3 2025

Q4 2025

Q1 2026

Q2 2026

Y/Y %

Change

Segments

North America Segment:

Net sales

$

92,887

$

100,068

$

106,267

$

127,083

$

104,143

$

116,177

16

%

Net sales -- Y/Y growth, excluding F/X

8

%

11

%

11

%

10

%

12

%

16

%

N/A

Net sales -- TTM

$

394,043

$

404,078

$

414,808

$

426,305

$

437,561

$

453,670

12

%

Operating income

$

5,841

$

7,517

$

4,789

$

11,472

$

8,267

$

9,123

21

%

F/X impact -- unfavorable

$

(32

)

$

(46

)

$

(53

)

$

(73

)

$

(41

)

$

(6

)

N/A

Operating income -- Y/Y growth (decline), excluding F/X

18

%

49

%

(14

)%

25

%

42

%

21

%

N/A

Operating margin -- % of North America net sales

6.3

%

7.5

%

4.5

%

9.0

%

7.9

%

7.9

%

N/A

Operating income -- TTM

$

25,825

$

28,277

$

27,403

$

29,619

$

32,045

$

33,651

19

%

Operating margin -- TTM % of North America net sales

6.6

%

7.0

%

6.6

%

6.9

%

7.3

%

7.4

%

N/A

International Segment:

Net sales

$

33,513

$

36,761

$

40,896

$

50,724

$

39,789

$

42,197

15

%

Net sales -- Y/Y growth, excluding F/X

8

%

11

%

10

%

11

%

11

%

15

%

N/A

Net sales -- TTM

$

144,484

$

149,582

$

154,590

$

161,894

$

168,170

$

173,606

16

%

Operating income

$

1,017

$

1,494

$

1,199

$

1,040

$

1,424

$

1,717

15

%

F/X impact -- favorable (unfavorable)

$

(56

)

$

338

$

302

$

319

$

347

$

(43

)

N/A

Operating income -- Y/Y growth (decline), excluding F/X

19

%

324

%

(31

)%

(45

)%

6

%

18

%

N/A

Operating margin -- % of International net sales

3.0

%

4.1

%

2.9

%

2.1

%

3.6

%

4.1

%

N/A

Operating income -- TTM

$

3,906

$

5,127

$

5,025

$

4,750

$

5,157

$

5,380

5

%

Operating margin -- TTM % of International net sales

2.7

%

3.4

%

3.2

%

2.9

%

3.1

%

3.1

%

N/A

AWS Segment:

Net sales

$

29,267

$

30,873

$

33,006

$

35,579

$

37,587

$

42,232

37

%

Net sales -- Y/Y growth, excluding F/X

17

%

17

%

20

%

24

%

28

%

37

%

N/A

Net sales -- TTM

$

111,786

$

116,378

$

121,932

$

128,725

$

137,045

$

148,404

28

%

Operating income

$

11,547

$

10,160

$

11,434

$

12,465

$

14,161

$

16,621

64

%

F/X impact -- favorable (unfavorable)

$

141

$

(139

)

$

(120

)

$

(223

)

$

(339

)

$

(56

)

N/A

Operating income -- Y/Y growth, excluding F/X

21

%

10

%

11

%

19

%

26

%

64

%

N/A

Operating margin -- % of AWS net sales

39.5

%

32.9

%

34.6

%

35.0

%

37.7

%

39.4

%

N/A

Operating income -- TTM

$

41,960

$

42,786

$

43,773

$

45,606

$

48,220

$

54,681

28

%

Operating margin -- TTM % of AWS net sales

37.5

%

36.8

%

35.9

%

35.4

%

35.2

%

36.8

%

N/A

  AMAZON.COM, INC.

Supplemental Financial Information and Business Metrics

(in millions, except employee data)

(unaudited)

  Q1 2025

Q2 2025

Q3 2025

Q4 2025

Q1 2026

Q2 2026

Y/Y %

Change

Net Sales

Online stores (1)

$

57,407

$

61,485

$

67,407

$

82,988

$

64,254

$

70,432

15

%

Online stores -- Y/Y growth, excluding F/X

6

%

10

%

8

%

8

%

9

%

15

%

N/A

Physical stores (2)

$

5,533

$

5,595

$

5,578

$

5,855

$

5,785

$

5,794

4

%

Physical stores -- Y/Y growth, excluding F/X

6

%

7

%

7

%

5

%

4

%

4

%

N/A

Third-party seller services (3)

$

36,512

$

40,348

$

42,486

$

52,816

$

41,578

$

46,780

16

%

Third-party seller services -- Y/Y growth, excluding F/X

7

%

10

%

11

%

10

%

12

%

16

%

N/A

Advertising services (4)

$

13,921

$

15,694

$

17,703

$

21,317

$

17,243

$

19,809

26

%

Advertising services -- Y/Y growth, excluding F/X

19

%

22

%

22

%

22

%

22

%

26

%

N/A

Subscription services (5)

$

11,715

$

12,208

$

12,574

$

13,122

$

13,427

$

13,730

12

%

Subscription services -- Y/Y growth, excluding F/X

11

%

11

%

10

%

12

%

12

%

12

%

N/A

AWS

$

29,267

$

30,873

$

33,006

$

35,579

$

37,587

$

42,232

37

%

AWS -- Y/Y growth, excluding F/X

17

%

17

%

20

%

24

%

28

%

37

%

N/A

Other (6)

$

1,312

$

1,499

$

1,415

$

1,709

$

1,645

$

1,829

22

%

Other -- Y/Y growth, excluding F/X

4

%

18

%

7

%

7

%

25

%

23

%

N/A

Stock-based Compensation Expense

Cost of sales

$

148

$

250

$

197

$

182

$

171

$

208

(17

)%

Fulfillment

$

497

$

880

$

685

$

641

$

601

$

764

(13

)%

Technology and infrastructure

$

2,060

$

3,655

$

2,697

$

2,459

$

2,286

$

3,701

1

%

Sales and marketing

$

653

$

1,207

$

832

$

753

$

663

$

845

(30

)%

General and administrative

$

331

$

542

$

436

$

362

$

311

$

520

(4

)%

Total stock-based compensation expense

$

3,689

$

6,534

$

4,847

$

4,397

$

4,032

$

6,038

(8

)%

Other

WW shipping costs

$

22,495

$

23,370

$

25,384

$

31,492

$

25,709

$

27,873

19

%

WW shipping costs -- Y/Y growth

3

%

6

%

8

%

10

%

14

%

19

%

N/A

WW paid units -- Y/Y growth (7)

8

%

12

%

11

%

12

%

15

%

17

%

N/A

WW seller unit mix -- % of WW paid units (7)

61

%

62

%

62

%

61

%

60

%

61

%

N/A

Employees (full-time and part-time; excludes contractors & temporary personnel)

1,560,000

1,546,000

1,578,000

1,576,000

1,575,000

1,595,000

3

%

Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth

3

%

1

%

2

%

1

%

1

%

3

%

N/A

  (1)

Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”

(2)

Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”

(3)

Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.

(4)

Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.

(5)

Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.

(6)

Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.

(7)

Excludes the impact of Whole Foods Market.

Amazon.com, Inc.
Certain Definitions

Customer Accounts

References to customers mean customer accounts established when a customer places an order through one of our stores. Customer accounts exclude certain customers, including customers associated with certain of our acquisitions, Amazon Payments customers, AWS customers, and the customers of select companies with whom we have a technology alliance or marketing and promotional relationship. Customers are considered active when they have placed an order during the preceding twelve-month period. Seller Accounts

References to sellers means seller accounts, which are established when a seller receives an order from a customer account. Sellers are considered active when they have received an order from a customer during the preceding twelve-month period. AWS Customers

References to AWS customers mean unique AWS customer accounts, which are unique customer account IDs that are eligible to use AWS services. This includes AWS accounts in the AWS free tier. Multiple users accessing AWS services via one account ID are counted as a single account. Customers are considered active when they have had AWS usage activity during the preceding one-month period. Units

References to units mean physical and digital units sold (net of returns and cancellations) by us and sellers in our stores as well as Amazon-owned items sold in other stores. Units sold are paid units and do not include units associated with AWS, certain acquisitions, certain subscriptions, rental businesses, or advertising businesses, or Amazon gift cards. More News From Amazon.com, Inc.

Back to Newsroom

Year-over-year revenue growth for Amazon Web Services came in at 37% for the second quarter as AI drives computing demand.

Amazon shares are trending. What’s behind AMZN gains? Amazon Q2 Earnings HighlightsAmazon reported second-quarter revenue of $200.61 billion, beating the consensus estimate of $196.46 billion, according to Benzinga Pro. The company posted second-quarter earnings of $5.75 per share, beating analyst estimates of $1.82 per share.

Total revenue increased 20% on a year-over-year basis. Here’s a breakdown of revenue by segment.

North America: $116.2 billion, up 16% International: $42.2 billion, up 15% Amazon Web Services: $42.2 billion, up 37% (fastest growth in 18 quarters) Operating cash flow increased 33% to $161.4 billion for the trailing 12 months, and free cash flow decreased to an outflow of $7.6 billion, driven primarily by a year-over-year increase of $66.1 billion in purchases of property and equipment, reflecting AI investments. Amazon ended the period with $80.93 billion in cash, cash equivalents and restricted cash.

“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,” said Andy Jassy, president and CEO of Amazon.

“In Stores, we again set record delivery speeds for Prime members in the first half of the year — over 40% more items delivered same-day or overnight, with Grocery and Everyday Essentials growing meaningfully faster than the rest of the business.”

Amazon expects third-quarter revenue to be between $197 billion and $202 billion versus estimates of $204.08 billion. Operating income is expected to be between $22.5 billion and $26.5 billion in the third quarter, compared to $17.4 billion in the comparable quarter last year.

“There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond,” Jassy added.

Amazon management will further discuss the quarter on an earnings call at 5 p.m. ET. A link to the call has been provided below.

AMZN Shares Surge After HoursAMZN Price Action: Amazon shares were up approximately 3.75% year-to-date heading into the print. The stock was up 9.12% in after-hours, trading at $256.97 at the time of publication on Thursday, according to Benzinga Pro.

Image: Shutterstock.com

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Amazon shares surged in after-hours trading Thursday after the tech giant posted its first $200 billion quarter and beat Wall Street expectations with its financial results.

Growth in advertising and AWS keyed the performance, which boosted shares 9%. Revenue at AWS surged 37%, the biggest quarterly increase in more than four years.

Overall earnings per share came in at $5.75, more than triple Wall Street analysts’ consensus forecast, with revenue of $200.6 billion also topping estimates.

After a bruising session for rival Meta Platforms, whose stock was punished Wednesday and again Thursday after the company said it would increase its already lavish spending on AI, the quarterly report came as a relief. Many investors have been fretting about questionable returns on the industry’s trillion-dollar buildout of AI capacity. By contrast, Amazon delivered red meat to the Street, signaling both its microchips business and the AI operation at AWS had reached $25 billion annual run rates, establishing in the eyes of many their long-term viability.

As Big Tech firms all refine their strategies in the AI race, Amazon has started to solidify its plans to rent out capacity to large players like Meta, OpenAI and Anthropic. It also can supply chips for companies to put in their own data centers.

Advertising, which has been a major focus at Prime Video over the past several years, notched its best growth in years, rising 26% over the prior-year period to hit $19.8 billion.

The earnings release touted new live sports offerings like the NBA and NASCAR, which have delivered strong viewership. On the original series front, Off Campus pulled in 36 million in its first 12 days, becoming the third most-watched series debut in Prime Video history.

“There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond,” CEO Andy Jassy said in the release.

MORE to come …

CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit CNBC.com For More.