Amazon.com, Inc. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Amazon Q3 2026 Earnings Summary

  • Revenue: $201.9 billion, +12% YoY (vs. Q3 2025); +13% ex-FX. Prime Day shift to Q2 2026 created headwind; ex-impact, growth ~4 points higher.
  • Operating Income: $28.1 billion (+61% YoY), operating margin 13.9% (record high).
  • Worldwide Paid Units: +12% YoY.

AWS Performance

  • Revenue: $46 billion, +39.3% YoY (sixth consecutive quarter of acceleration; fastest growth in ~5 years). Annualized run rate: $184 billion. Added $3.8B QoQ.
  • Operating Income: $17.8 billion, margin 38.7%.
  • AI revenue: triple-digit growth YoY. Bedrock token volume +17x YoY; Fortune 500 spending ~7x more on Bedrock. Core compute/storage at fastest rates in years.
  • Backlog: $578 billion (triple-digit YoY growth). Chips (Graviton/Trainium) +triple digits YoY; commitments +20x YoY.
  • CapEx: $75.9 billion in Q3 (primarily AWS/AI). 2026 full-year cash CapEx expected ~$220 billion; meaningfully higher in 2027.
  • Outlook: Expects >40% growth in 2027 and 2028; path to $1 trillion revenue in 5-10 years.

North America & International Segments

  • North America revenue: $112.9 billion (+6% YoY). Operating income $8.7 billion (7.7% margin).
  • International revenue: $43.1 billion (+8% YoY ex-FX). Operating income $1.6 billion (3.7% margin).
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Operator: Thank you for standing by. Good day, everyone, and welcome to the Amazon.com Q3 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 Q3 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, October 29, 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 filings
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