Amazon.com, Inc. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Date: July 30, 2026 | Participants: CEO Andy Jassy, CFO Brian Olsavsky

Financial Highlights (vs. Q2 2025)

  • Worldwide Revenue: $200.6 billion, +20% YoY (includes Prime Day timing shift into Q2 for major markets)
  • Operating Income: $27.5 billion, +43% YoY (includes $1.2 billion benefits from tariff refunds and energy contract fair value changes)
  • Worldwide Paid Units: +17% YoY

AWS Performance (vs. Q2 2025)

  • Revenue: $42.2 billion, +36.7% YoY (fifth consecutive quarter of acceleration; fastest growth in 18 quarters)
  • Annualized Run Rate: $169 billion
  • Backlog: $496 billion, triple-digit YoY growth
  • AI & Chips Revenue Run Rates: Each over $25 billion, triple-digit YoY growth
  • Operating Income: $16.6 billion (margin ~39%; +650 bps YoY or +520 bps ex-derivative gain)
  • Key Drivers: Strong core + AI growth; Graviton and Trainium adoption; Bedrock momentum

Segment Results (vs. Q2 2025)

  • North America: Revenue $116.2 billion (+16% YoY); Operating income $9.1 billion (margin 7.9%)
  • International: Revenue $42.2 billion (+15% YoY ex-FX); Operating income $1.7 billion (margin 4.1%)

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Operator: Thank you for standing by. Good day, everyone, and welcome to the Amazon.com Quarter Two 2026 financial results teleconference. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. Today's call is being recorded. For opening remarks, I'll be turning the call over to the Vice President of Investor Relations, Mr. Dave Fildes. Thank you, sir. Please go ahead. Dave Fildes: Hello, and welcome to our Q2 2026 financial results conference call. Joining us today to answer your questions is Andy Jassy, our CEO, and Brian Olsavsky, our CFO. As you listen to today's conference call, we encourage you to have our press release in front of you, which includes our financial results as well as metrics and commentary on the quarter. Please note, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2025. Our comments and responses to your questions reflect management's views as of today, July 30th, 2026, only, and will include forward-looking statements. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in today's press release and our filings with the SEC, including our most recent annual report on Form 10-K and subsequent filings. During this call, we may discuss certain non-GAAP financial measures. In our press release, slides accompanying this webcast, and our

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