Amazon.com, Inc. (AMZN) Earnings Call Transcripts

Amazon.com, Inc.'s Latest Earnings Call - Q2 FY2026

In Q2 2026, Amazon.com, Inc. reported a robust revenue of $200.6 billion, reflecting a 20% year-over-year increase, and operating income surged to $27.5 billion, up 43% YoY. The strong performance was driven by significant growth in AWS, which saw a 36.7% revenue increase, marking its fifth consecutive quarter of acceleration. Management raised its cash CapEx guidance for 2026 from $200 billion to $220 billion, primarily due to increased demand and supply chain inflation, signaling strong future growth potential despite short-term cash flow headwinds.

Reported metrics

Guidance from management

For Q3 2026, net sales are expected to be between $197 billion and $202 billion, with operating income projected between $22.5 billion and $26.5 billion. This guidance reflects the impact of Prime Day timing and foreign exchange rates.

What management said

Colin, let me take your second question first. You've seen us issue debt this year. We have a lot of options available to us as we continue to fund this growth that we're seeing in AWS. So we'll continue to look at all the options and make the appropriate decision at the right time, but nothing to share today.

Joining us on the call today for your questions. A replay will be available on our Investor Relations website for at least 3 months. We appreciate your interest in Amazon and look forward to speaking with you again next quarter.

What analysts pressed on

Analysts expressed concerns regarding the sustainability of AWS margins amid heavy investments in AI and infrastructure. Questions were raised about the potential impact of future capacity expansions on profitability and whether Amazon would need its own leading AI model to compete effectively in the market.

Main topics on the call

• AWS Revenue Growth — AWS revenue reached $42.2 billion, up 36.7% year-over-year, with a backlog of $496 billion growing triple digits YoY. CEO Andy Jassy noted, "AWS is booming right now," highlighting the strong demand for both core and AI ...
• CapEx Guidance Increase — Management raised its 2026 cash CapEx guidance to $220 billion from $200 billion, citing increased costs for memory and the need to support AI infrastructure. This indicates a commitment to long-term growth despite short...
• Prime Day Impact — The timing shift of Prime Day into Q2 contributed to the strong sales figures, but management cautioned that this would create a sequential deceleration in Q3 growth. CFO Brian Olsavsky stated, "Excluding the impact of P...
• Grocery Business Expansion — Amazon's grocery segment continues to grow rapidly, with a 50% increase in monthly active perishable customers since the start of the year. Jassy emphasized that "same-day perishables in our same-day facilities are chang...

Read the full Amazon.com, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 35 Amazon.com, Inc. earnings call transcripts on record, spanning January 30, 2020 to July 30, 2026. Based on this history, Amazon.com, Inc. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

AMZN

Exchange

NasdaqGS

Country

US

Sector

Consumer Discretionary

Industry

Broadline Retail

Calls on record

35

First call

January 30, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly