Amazon earnings: date, guidance and results
Amazon's next results are expected on October 29, 2026. Watch whether AWS capacity becomes profitable customer usage.
What has Amazon guided for the year?
Guidance is management’s expected range for a future period, not a result already earned. Amazon’s July forecast puts September-quarter sales at $197,000–$202,000 million. It puts operating income—the profit left after running the businesses, before interest and taxes—at $22,500–$26,500 million. Investors will compare the eventual result with that range and with analysts’ separate forecasts.
The larger commitment is capital expenditure, or capex: cash spent on assets that serve the business for years. Amazon raised expected 2026 cash capex from about $200 billion to about $220 billion, partly because memory prices are rising. Forecasts call for DRAM prices to rise 125% in 2026 and NAND flash prices to rise 234%. The same budget may therefore buy less computing capacity.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Net sales | Quarter to Sep 2026 | 197,000 | 202,000 | Jul 30, 2026 |
| Net sales growth | Quarter to Sep 2026 | 9.0% | 12.0% | Jul 30, 2026 |
| Year-over-year growth excluding the impact of Prime Day (basis points higher) | Quarter to Sep 2026 | 400 | 400 | Jul 30, 2026 |
| Unfavorable impact from foreign exchange rates (basis points) | Quarter to Sep 2026 | 80 | 80 | Jul 30, 2026 |
| Operating income | Quarter to Sep 2026 | 22,500 | 26,500 | Jul 30, 2026 |
| cash CapEx | Year to Dec 2026 | Jul 30, 2026 |
How has Amazon's revenue and profit changed over the last eight quarters?
Revenue reached $200,606 million, against $167,702 million in Q2 2025. Operating income rose to $27,461 million, lifting operating margin to 13.7%. Prime Day’s move into June helped the comparison, but the operating improvement was still meaningful.
| Quarter to Jun 2026 | Quarter to Mar 2026 | Quarter to Dec 2025 | Quarter to Sep 2025 | Quarter to Jun 2025 | Quarter to Mar 2025 | Quarter to Dec 2024 | Quarter to Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 200,606 | 181,519 | 213,386 | 180,169 | 167,702 | 155,667 | 187,792 | 158,877 |
| Gross margin | 52.3% | 51.8% | 48.5% | 50.8% | 51.8% | 50.6% | 47.3% | 49.0% |
| Operating income | 27,461 | 23,852 | 24,977 | 17,422 | 19,171 | 18,405 | 21,203 | 17,411 |
| Net income | 62,647 | 30,255 | 21,192 | 21,187 | 18,164 | 17,127 | 20,004 | 15,328 |
| EPS, diluted | 5.75 | 2.78 | 1.95 | 1.95 | 1.68 | 1.59 | 1.86 | 1.43 |
| Cash from operations | 45,387 | 26,032 | 54,459 | 35,525 | 32,515 | 17,015 | 45,636 | 25,971 |
| Capital spending | 54,208 | 44,203 | 39,522 | 35,095 | 32,183 | 25,019 | 27,834 | 22,620 |
What should I watch in Amazon's next results?
The next results announcement is estimated for October 29, 2026, though Amazon had not confirmed that date. Investors should compare September-quarter sales and operating income with July’s guidance, then examine December-quarter guidance and any change to spending or financing plans. A higher budget is more encouraging when it buys capacity than when it merely pays higher prices.
The clearest operating evidence will come from AWS: its growth, its customers and the returns on the infrastructure now being built.