AMZN Q1 2026 Earnings

Call Details

• Call Title: Amazon Q1 2026 Earnings Call
• Date: April 29, 2026 at 9:30 PM UTC
• Management Team:
  • Dave Fildes (Director of Investor Relations)
  • Andy Jassy (Chief Executive Officer)
  • Brian Olsavsky (Chief Financial Officer)

Call Summary

Financial Performance

• Company revenue for Q1 was $181.5B, with reported year-over-year growth of 17% and an FX-adjusted increase of 15% excluding a $2.9B favorable FX impact.
• Worldwide operating income was $23.9B, delivering an operating margin of 13.1%, which was described as the highest operating margin ever.
• AWS revenue was $37.6B and accelerated to 28% year over year growth, the fastest AWS growth rate in 15 quarters.
• AWS operating income was $14.2B and AWS AI revenue was described as growing in the triple digits year over year.
• North America segment revenue was $104.1B, up 12% year over year, and segment operating income was $8.3B with a 7.9% operating margin.
• International segment revenue was $39.8B, up 11% year over year excluding FX, and international operating income was $1.4B with a 3.6% operating margin.

Guidance

• Q2 net sales are expected to be between $194B and $199B for the company.
• Q2 operating income is expected to be between $20B and $24B for the company.
• The company estimates foreign exchange will be a headwind of approximately 10 basis points in Q2 based on current rates.
• The Q2 operating income guidance includes a seasonal step-up in stock-based compensation tied to the annual compensation cycle.
• Guidance assumes a year-over-year North America cost increase of approximately $1B related to Amazon Leo satellite manufacturing and launch activity.
• Guidance assumes Prime Day occurs in Q2 in most of the largest geographies and notes that Prime Day timing differed in 2025 when it was in Q3 for all countries.
• Guidance anticipates higher transportation costs related to fuel inflation that are partially offset by a recently implemented fuel and logistics related FBA surcharge.