AMZN Q2 2026 Earnings

Call Details

• Call Title: Amazon Q2 2026 Earnings Call
• Date: July 30, 2026 at 9:30 PM UTC
• Management Team:
  • Andy Jassy (Chief Executive Officer)
  • Brian Olsavsky (Senior Vice President and Chief Financial Officer, Amazon.com, Inc.)

Call Summary

Financial Performance

• Worldwide revenue was $200.6B, a 20% increase year over year excluding the impact of foreign exchange.
• Worldwide operating income was $27.5B for Q2 2026.
• North America segment revenue was $116.2B, up 16% year over year, with North America operating income of $9.1B and an operating margin of 7.9%.
• International segment revenue was $42.2B, up 15% year over year excluding foreign exchange, with operating income of $1.7B and an operating margin of 4.1%.
• Worldwide paid units grew 17% year over year, and Prime membership growth was described as double-digit year over year.
• AWS revenue was $42.2B, up 36.7% year over year, with AWS operating income of $16.6B and an annualized revenue run rate of $169B.
• Two items reduced expenses by approximately $1.2B in the quarter, consisting of approximately $600M in tariff-related refunds and approximately $600M from a fair value measurement benefit on energy contracts.
• Cash capital expenditures were $53.1B in Q2, with the company attributing most of this spend to AWS and generative AI capacity build.

Guidance

• Q3 2026 net sales are expected to be between $197B and $202B.
• Q3 2026 operating income is expected to be between $22.5B and $26.5B.
• The sequential deceleration in net sales growth from Q2 to Q3 is driven in part by Prime Day timing shifting into Q2 for most large countries.
• Excluding the impact of Prime Day in both 2025 and 2026, third quarter 2026 year-over-year growth would have been nearly 400 basis points higher.
• Q3 guidance anticipates an unfavorable impact of approximately 80 basis points from year-over-year changes in foreign exchange rates based on current rates.
• The company stated that operating margin may fluctuate and progress may not always be linear as productivity improvements continue to be pursued.