MEMORY INDUSTRY INTELLIGENCE
아마존닷컴, 2분기 실적 발표
한국어 번역·요약·분석
원문 제목: Amazon.com Announces Second Quarter Results
핵심 요약
아마존은 2026년 2분기 순매출이 전년 동기 대비 20% 증가한 2,006억 달러, 영업이익이 43% 증가한 275억 달러를 기록했다고 발표했다. AWS 매출은 37% 증가한 422억 달러로 18분기 만에 최고 성장률을 보였으며, 연환산 매출 기준 1,690억 달러 규모에 도달했다. 순이익은 626억 달러로 전년 동기 182억 달러에서 크게 증가했는데, 여기에는 주로 Anthropic 투자에서 발생한 534억 달러의 비영업 세전 기타이익이 포함됐다. 잉여현금흐름은 AI 투자 증가로 인해 76억 달러 유출을 기록했으며, 3분기 매출 가이던스는 1,970억~2,020억 달러(9~12% 성장)로 제시됐다. 회사는 메모리 칩을 포함한 자원·공급 변동성을 실적 불확실성 요인으로 명시했다.
메모리 산업 영향 분석
원문에서 직접 확인된 내용: 아마존은 2026년 2분기 AWS 매출이 전년 대비 37% 증가한 422억 달러, 연환산 1,690억 달러에 도달했다고 밝혔으며, AI 사업과 칩 사업이 각각 연환산 250억 달러를 초과했다고 공시했다. 또한 회사는 실적 불확실성 요인으로 '메모리 칩을 포함한 자원 및 공급 변동성'을 명시적으로 언급했다. 분석가 가설: AWS의 AI·칩 사업 확대와 Trainium 채택 증가는 서버 DRAM·HBM·eSSD 등 데이터센터 메모리 수요와 간접적으로 연결될 수 있으나, 원문은 구체적인 메모리 제품·용량·고객·거래 관계를 명시하지 않았다. 메모리 산업에 대한 직접적 영향(제품별 수요, 계층 이동, 사용량 효과)을 뒷받침할 근거는 원문에서 확인되지 않으며, 메모리 칩 공급 변동성 언급은 리스크 요인 나열에 그친다. 확인할 지표: AWS AI·칩 사업의 실제 메모리 탑재량, Trainium 인스턴스의 메모리 구성, 아마존의 메모리 조달 규모·공급업체 — 이는 원문에 없다.
한국어 번역 읽기
수집된 원문 v1의 분석에 제공된 본문 기준 · 14971자
## 뉴스 릴리스 세부 정보
2026년 7월 30일
_순매출 전년 대비 20% 증가
영업이익 275억 달러, 전년 대비 43% 증가
AWS 순매출 37% 증가—18분기 만에 최고 성장률—연환산 매출 기준 1,690억 달러 달성_
아마존닷컴(Amazon.com, Inc., NASDAQ: AMZN)은 오늘 2026년 6월 30일 종료된 2분기 재무 실적을 발표했습니다.
* **순매출**은 2분기에 20% 증가한 2,006억 달러를 기록했으며, 이는 2025년 2분기의 1,677억 달러와 비교됩니다. 분기 중 환율 변동으로 인한 1억 달러의 유리한 영향을 제외하면, 순매출은 2025년 2분기 대비 20% 증가했습니다.
* 북미 부문 매출은 전년 대비 16% 증가한 1,162억 달러를 기록했습니다.
* 국제 부문 매출은 전년 대비 15% 증가한 422억 달러를 기록했습니다.
* AWS 부문 매출은 전년 대비 37% 증가한 422억 달러를 기록했습니다.
* **영업이익**은 2분기에 275억 달러로 증가했으며, 이는 2025년 2분기의 192억 달러와 비교됩니다.
* 북미 부문 영업이익은 91억 달러로, 2025년 2분기의 75억 달러와 비교됩니다.
* 국제 부문 영업이익은 17억 달러로, 2025년 2분기의 15억 달러와 비교됩니다.
* AWS 부문 영업이익은 166억 달러로, 2025년 2분기의 102억 달러와 비교됩니다.
* **순이익**은 2분기에 626억 달러, 희석 주당 5.75달러로 증가했으며, 이는 2025년 2분기의 182억 달러, 희석 주당 1.68달러와 비교됩니다.
* 2026년 2분기 순이익에는 주로 Anthropic 투자에서 발생한 534억 달러의 비영업 세전 기타이익이 포함됩니다.
* **영업현금흐름**은 지난 12개월 동안 33% 증가한 1,614억 달러를 기록했으며, 이는 2025년 6월 30일 종료된 12개월의 1,211억 달러와 비교됩니다.
* **잉여현금흐름**은 지난 12개월 동안 76억 달러 유출로 감소했으며, 이는 주로 자산 및 장비 구매(판매 및 인센티브 수익금 차감 후)가 전년 대비 661억 달러 증가한 데 기인합니다. 이 증가는 주로 인공지능에 대한 투자를 반영합니다. 이는 2025년 6월 30일 종료된 12개월의 182억 달러 유입과 비교됩니다.
“AWS는 호황을 누리고 있으며, 2분기에 전년 대비 36.7% 성장—18분기 만에 최고 성장률—을 기록했고, AI 및 칩 사업 각각 250억 달러 이상의 연환산 매출을 돌파했습니다.”라고 앤디 재시(Andy Jassy) 아마존 사장 겸 CEO는 말했습니다. “스토어에서는 상반기에 프라임 회원을 위한 기록적인 배송 속도를 다시 한번 달성했습니다—당일 또는 익일 배송 품목이 40% 이상 증가했으며, 식료품 및 일상 필수품은 사업의 나머지 부분보다 훨씬 빠르게 성장했습니다. 그리고 광고는 전년 대비 26% 성장으로 또 한 번 강력한 분기를 보냈습니다. 기대할 것이 많으며, 하반기와 그 이후에도 고객을 위해 더 많은 것이 준비되어 있습니다.”
회사의 지난 실적 발표 이후 다른 주요 하이라이트는 다음과 같습니다:
* AWS의 AI 사업이 연환산 매출 기준 250억 달러를 초과했으며, 전년 대비 세 자릿수 비율로 성장했습니다.
* 칩 사업이 연환산 매출 기준 250억 달러를 초과했으며, 전년 대비 세 자릿수 비율로 성장했습니다.
* Trainium의 모멘텀을 계속 이어가며, 세계 2대 AI 연구소인 Anthropic과 OpenAI가 다년간, 다중 기가와트 규모의 약정을 체결했습니다. NEURA Robotics와 Odyssey 같은 유니콘을 포함한 점점 더 많은 AI 스타트업이 Trainium을 채택하고 있으며, TwelveLabs, Decart, Poolside, Karakuri, Inc., Metagenomi Therapeutics, Inc., NetoAI, Splash Music 같은 다른 스타트업과 Uber, Pinterest 같은 대기업의 약정도 있습니다.
* Graviton5를 정식 출시했습니다. Graviton은 비교 가능한 인스턴스보다 최대 30~40% 더 나은 가격 대비 성능을 제공하며, Graviton5는 Graviton4보다 최대 25% 더 나은 컴퓨팅 성능을 제공합니다. Graviton은 상위 1,000개 EC2 고객의 98%가 사용하고 있으며, 매출 약정은 전분기 대비 거의 3배 증가했고, Graviton5는 Graviton4보다 거의 2배 빠르게 성장하고 있습니다.
* OpenAI의 GPT-5.6, Anthropic의 Claude Opus 5, Google DeepMind의 Gemma 4, SpaceXAI의 Grok 4.3을 포함해 10개 이상의 완전 관리형 파운데이션 모델을 Amazon Bedrock에 추가했습니다. Amazon Bedrock은 뛰어난 성능과 기업에 필요한 거버넌스 및 보안 제어 기능을 갖춘 최고의 선도 모델 선택지를 제공하며 빠르게 성장하고 있습니다—현재 수십만 고객이 Bedrock을 사용하고 있으며, 지난 6개월 동안 출시 후 첫 2년보다 더 많은 고객이 추가되었고, 고객들은 2분기에 이전 모든 분기를 합친 것보다 더 많이 지출했습니다.
* 코드 취약점을 발견, 우선순위 지정, 검증, 수정하는 AWS Continuum을 미리 선보였습니다. 이는 팀이 이미 보유한 취약점 백로그를 수집하는 것으로 시작하여 새로운 프론티어 모델을 활용해 포괄적인 스캔을 실행합니다. Continuum은 에이전트와 각 기업의 자체 비즈니스 맥락을 사용해 중요한 것을 우선순위화한 다음, 샌드박스에서 취약점을 검증하고 수정 사항을 권장합니다.
* 기업이 에이전트를 대규모로 신속하고 안전하게 배포하고 운영하는 데 필요한 구성 요소를 제공하는 Bedrock AgentCore에 새로운 기능을 추가했습니다. 새로운 기능에는 에이전트가 자율적으로 거래를 실행할 수 있게 하는 Payments, AWS를 떠나지 않고 에이전트의 지식을 근거화하는 Web Search, 고객이 에이전트에 필요한 모든 인프라를 더 빠르게 연결할 수 있게 하는 Harness가 포함됩니다.
* 이메일, 캘린더, 로컬 또는 클라우드 파일, 사용자 정의 워크플로 전반에서 디지털 업무를 관리, 검색, 자동화하는 데 도움을 주는 지능형 AI 업무 동반자 Amazon Quick을 더욱 강력하게 만들었습니다. 고객이 평범한 언어로 설정하여 백그라운드에서 지속적으로 실행되고 다단계 작업을 수행하는 자율 에이전트, 이메일·메시지·캘린더·작업을 하나의 우선순위 보기로 모아주는 개인화된 활동 피드, Adobe, Moody’s, Snowflake를 포함한 16개의 새로운 통합을 추가했습니다. Quick은 Slack, Salesforce, Jira, Teams, ServiceNow 같은 주요 SaaS 도구 전반에서 관리하고, 기업의 기존 접근 제어를 시행하며, 회의 예약, 이메일 초안 작성 및 발송, CRM 레코드 업데이트, 대시보드 구축 등의 작업을 수행합니다.
* 사양 기반 코딩 에이전트인 Kiro를 iOS에서 사용할 수 있게 하여 개발자가 이제 휴대폰, 데스크톱, 명령줄, 웹에서 새 프로젝트를 시작하고, 진행 상황을 모니터링하고, 에이전트를 조종하고, Kiro 세션과 상호작용할 수 있습니다. Kiro는 대안보다 최대 50% 더 비용 효율적이며 전분기 대비 사용량이 3배 증가했습니다.
* 개발자가 소프트웨어를 안전하고 안정적으로 출시하도록 돕는 항상 사용 가능한 소프트웨어 운영 팀원인 AWS DevOps Agent에 새로운 기능을 추가했습니다. 여기에는 코드 변경의 준비 상태 검토를 수행하고 출시 전에 잠재적 문제를 발견하기 위해 릴리스를 자율적으로 테스트하는 Release Management가 포함됩니다.
* 수요에 따라 확장되는 에이전트 AI용 서버리스 인프라를 출시했습니다:
* Lambda MicroVMs는 인기 있는 AWS Lambda 서버리스 컴퓨팅 서비스의 새로운 형태로, 수요에 따라 즉시 시작 시간과 확장/축소 기능을 제공할 뿐만 아니라 이제 최대 8시간 지속되는 세션을 가진 상태 저장 런타임을 제공합니다—장기 실행 에이전트 루프, 다단계 파이프라인, 영구 데이터베이스 엔진에 이상적입니다.
* 차세대 OpenSearch Serverless는 에이전트가 대규모 데이터 전반에서 빠르게 검색할 수 있게 하며, 이전 세대보다 최대 20배 빠르게 용량을 확장하고, 최대 사용량을 위해 프로비저닝하는 것보다 최대 60% 비용을 절감합니다.
* Amazon OpenSearch Service용으로 특별 제작된 로그 분석 엔진은 에이전트 워크로드가 생성하는 방대한 로그 증가에 발맞추도록 설계되었습니다. 기존 범용 엔진보다 최대 4배 더 나은 가격 대비 성능, 동일 하드웨어에서 최대 2배 더 높은 데이터 수집, 최대 2배 더 빠른 분석 쿼리를 제공하면서 동일 비용으로 최대 3배 더 많은 데이터를 보존합니다—팀이 통찰력과 예산 중 하나를 선택하지 않고도 더 많은 관측 데이터를 보존하고 분석할 수 있게 합니다.
* AWS Forward Deployed Engineering을 만들기 위해 10억 달러 투자를 발표했습니다. 이는 고객과 직접 함께 배치되어 에이전트 AI 솔루션을 몇 달이 아닌 며칠 만에 공동 개발하고 배포하는 AI 엔지니어 팀입니다. 초기 고객에는 Allen Institute, Cox Automotive, NBA, NFL, Ricoh, Southwest Airlines가 포함됩니다.
* 국방 계약업체에게 기밀 혁신을 위한 더 빠르고 안전한 경로를 제공하는 AWS Secret Cloud for Industry의 정식 출시를 발표했으며, Northrop Grumman이 이 플랫폼에서 기밀 워크로드를 실행하는 첫 번째 기업이 되었고, 미국 정보 커뮤니티의 클라우드 마이그레이션 및 현대화를 가속화하기 위해 최대 10억 달러의 클라우드 크레딧을 약정했습니다.
* 글로벌 데이터 센터가 업계 평균보다 7배 이상 물 효율적이라고 발표했습니다. 아마존은 또한 2030년까지 글로벌 데이터 센터 운영 전반에서 물 긍정(water positive) 목표를 향해 75% 진전을 이루었으며, 인도의 직접 운영에서 2027년 목표보다 앞서 물 긍정 상태를 달성했습니다.
* Warner Bros. Discovery, Vodafone, Siemens Energy, Ryanair, Pinterest, Snowflake, Moody’s, Danske Bank, WNBA, Pennymac, Fiserv, WPP Enterprise Solutions, Vonage, Recursive, fal, Chai Discovery, Odyssey, TwelveLabs, Reactor, OpenRouter, Dash0, New York State Office of Information Technology Services, State of Iowa, University of South Florida, The University of Utah와 새로운 AWS 계약을 발표했습니다.
* 30분 이내에 수천 가지 일상 필수품을 배송하는 초고속 배송 서비스 Amazon Now를 계속 확장하여 미국 전역의 80개 신규 도시와 타운, 이집트의 여러 주요 도시를 추가했습니다. Amazon Now는 9개국, 전 세계 250개 이상의 도시와 타운에서 이용 가능하며, 고객들은 이를 좋아합니다—총 매출 및 판매 수량이 전분기 대비 80% 이상 성장하고 서비스 고객이 전분기 대비 60% 이상 증가했습니다.
* ADT Blu, Bobbi Brown, BROWN GIRL Jane, CR7 Underwear, LeGer, Mamonde, OLIVA COSMETICS, Rabanne, Ted Baker 같은 주목할 만한 브랜드의 70만 개 이상을 포함해 수백만 개의 신제품을 선택지에 추가했습니다.
* Rufus와 Alexa+를 Alexa for Shopping으로 통합했습니다. 이는 개인화된 추천, 제품 비교, 가격 이력을 제공하고 Price Alerts 및 Auto-Buy 같은 기능을 통해 쇼핑을 자동화하는 에이전트 AI 쇼핑 어시스턴트입니다. 전 세계 고객 채택과 참여가 2분기에 가속화되어 활성 사용자가 거의 2배로 증가하고 상호작용이 전년 대비 5배 이상 증가했습니다.
* Amazon Supply Chain Services를 출시하여 모든 기업이 아마존을 지원하는 동일한 공급망을 사용해 원자재부터 완제품까지 모든 것을 이동, 보관, 배송할 수 있게 했으며, Procter & Gamble, 3M, Lands’ End, American Eagle Outfitters가 첫 고객 중 하나입니다.
* 연환산 600억 달러에 도달
[원문 후반 발췌]
불확실성. 당사의 결과는 본질적으로 예측 불가능하며, 환율 및 에너지 가격 변동, 글로벌 경제 및 지정학적 조건 변화, 관세 및 무역 정책, 메모리 칩을 포함한 자원 및 공급 변동성, 고객 수요 및 지출(경기 침체 우려의 영향 포함), 인플레이션, 금리, 지역 노동 시장 제약, 세계 사건, 인터넷 성장률, 온라인 커머스, 클라우드 서비스, 신기술 및 신흥 기술, 그리고 아래에 상세히 설명된 다양한 요인 등 여러 요인에 의해 중대한 영향을 받을 수 있습니다.
2026년 3분기 가이던스
* 순매출은 1,970억 달러에서 2,020억 달러 사이, 즉 2025년 3분기 대비 9%에서 12% 성장할 것으로 예상됩니다. 2025년과 2026년 모두 Prime Day의 영향을 제외하면, 2026년 3분기 전년 대비 성장률은 약 400베이시스포인트 더 높아질 것입니다. 이 가이던스는 환율로 인한 약 80베이시스포인트의 불리한 영향을 예상합니다.
* 영업이익은 225억 달러에서 265억 달러 사이로 예상되며, 이는 2025년 3분기의 174억 달러와 비교됩니다.
* 이 가이던스는 무엇보다도 에너지 파생상품 계약 재측정의 영향이 없고, 추가 사업 인수가 없음을 가정합니다.
[원문 후반 발췌]
Kindle, Career Choice, Fire 태블릿, Fire TV, Amazon Echo, Alexa, Just Walk Out 기술, Amazon Studios, The Climate Pledge는 아마존이 개척한 것들 중 일부입니다. 자세한 내용은 amazon.com/about을 방문하고 @AmazonNews를 팔로우하세요.
**AMAZON.COM, INC.**
**연결 현금흐름표**
**(백만 달러 단위)**
**(미감사)**
**3개월 종료**
**6월 30일****6개월 종료**
**6월 30일****12개월 종료**
**6월 30일,**
**2025****2026****2025****2026****2025****2026**
현금, 현금성 자산 및 제한성 현금, 기초$69,893$104,692$82,312$90,106$71,673$61,453
영업 활동:
순이익 18,164 62,647 35,291 92,902 70,623 135,281
순이익을 영업 활동 순현금으로 조정:
유형자산 및 자본화 콘텐츠 비용, 운용리스 자산 및 기타의 감가상각 및 상각 15,227 19,988 29,489 38,933 58,562 75,200
주식 기반 보상 6,534 6,038 10,223 10,070 20,551 19,314
비영업 비용(수익), 순(1,258)(53,381)(4,075)(69,013)(4,702)(79,818)
이연 법인세 11 17,691 518 30,489(2,407)41,441
영업 자산 및 부채 변동:
재고(4,054)(1,818)(5,276)(196)(5,851)2,078
매출채권, 순 및 기타(1,125)(8,204)122(13,954)(4,602)(21,409)
기타 자
[원문 후반 발췌]
단기 부채 및 기타 2,093 9,368 3,908 15,386 8,187 20,798
단기 부채 및 기타 상환(1,392)(9,573)(3,474)(15,682)(7,901)(20,634)
장기 부채 조달—13,557 746 66,998 746 81,925
장기 부채 상환(2,751)(2,752)(2,751)(2,752)(7,434)(5,022)
금융리스 원금 상환(411)(395)(821)(863)(1,556)(1,599)
금융 의무 원금 상환(78)(59)(194)(174)(694)(308)
금융 활동으로 제공된(사용된) 순현금(2,539)10,146(2,586)62,913(8,652)75,160
현금, 현금성 자산 및 제한성 현금에 대한 환율 영향 1,008(53)1,424(54)864(314)
현금, 현금성 자산 및 제한성 현금의 순증가(감소)(8,440)(23,765)(20,859)(9,179)(10,220)19,474
현금, 현금성 자산 및 제한성 현금, 기말$61,453$80,927$61,453$80,927$61,453$80,927
보충 현금흐름 정보:
자본화 이자 차감 후 부채 이자 현금 지급$523$736$759$1,010$1,668$1,709
운용리스 현금 지급 3,758 3,489 7,320 7,804 13,485 15,522
금융리스 이자 현금 지급 72 85 143 187 284 339
금융 의무 이자 현금 지급 52 50 107 126 212 215
환급 차감 후 법인세 현금 지급 4,761 2,655 5,638 3,978 11,788 6,635
운용리스로 취득한 자산 4,621 7,670 8,942 13,909 16,702 24,897
2026년 7월 30일
_순매출 전년 대비 20% 증가
영업이익 275억 달러, 전년 대비 43% 증가
AWS 순매출 37% 증가—18분기 만에 최고 성장률—연환산 매출 기준 1,690억 달러 달성_
아마존닷컴(Amazon.com, Inc., NASDAQ: AMZN)은 오늘 2026년 6월 30일 종료된 2분기 재무 실적을 발표했습니다.
* **순매출**은 2분기에 20% 증가한 2,006억 달러를 기록했으며, 이는 2025년 2분기의 1,677억 달러와 비교됩니다. 분기 중 환율 변동으로 인한 1억 달러의 유리한 영향을 제외하면, 순매출은 2025년 2분기 대비 20% 증가했습니다.
* 북미 부문 매출은 전년 대비 16% 증가한 1,162억 달러를 기록했습니다.
* 국제 부문 매출은 전년 대비 15% 증가한 422억 달러를 기록했습니다.
* AWS 부문 매출은 전년 대비 37% 증가한 422억 달러를 기록했습니다.
* **영업이익**은 2분기에 275억 달러로 증가했으며, 이는 2025년 2분기의 192억 달러와 비교됩니다.
* 북미 부문 영업이익은 91억 달러로, 2025년 2분기의 75억 달러와 비교됩니다.
* 국제 부문 영업이익은 17억 달러로, 2025년 2분기의 15억 달러와 비교됩니다.
* AWS 부문 영업이익은 166억 달러로, 2025년 2분기의 102억 달러와 비교됩니다.
* **순이익**은 2분기에 626억 달러, 희석 주당 5.75달러로 증가했으며, 이는 2025년 2분기의 182억 달러, 희석 주당 1.68달러와 비교됩니다.
* 2026년 2분기 순이익에는 주로 Anthropic 투자에서 발생한 534억 달러의 비영업 세전 기타이익이 포함됩니다.
* **영업현금흐름**은 지난 12개월 동안 33% 증가한 1,614억 달러를 기록했으며, 이는 2025년 6월 30일 종료된 12개월의 1,211억 달러와 비교됩니다.
* **잉여현금흐름**은 지난 12개월 동안 76억 달러 유출로 감소했으며, 이는 주로 자산 및 장비 구매(판매 및 인센티브 수익금 차감 후)가 전년 대비 661억 달러 증가한 데 기인합니다. 이 증가는 주로 인공지능에 대한 투자를 반영합니다. 이는 2025년 6월 30일 종료된 12개월의 182억 달러 유입과 비교됩니다.
“AWS는 호황을 누리고 있으며, 2분기에 전년 대비 36.7% 성장—18분기 만에 최고 성장률—을 기록했고, AI 및 칩 사업 각각 250억 달러 이상의 연환산 매출을 돌파했습니다.”라고 앤디 재시(Andy Jassy) 아마존 사장 겸 CEO는 말했습니다. “스토어에서는 상반기에 프라임 회원을 위한 기록적인 배송 속도를 다시 한번 달성했습니다—당일 또는 익일 배송 품목이 40% 이상 증가했으며, 식료품 및 일상 필수품은 사업의 나머지 부분보다 훨씬 빠르게 성장했습니다. 그리고 광고는 전년 대비 26% 성장으로 또 한 번 강력한 분기를 보냈습니다. 기대할 것이 많으며, 하반기와 그 이후에도 고객을 위해 더 많은 것이 준비되어 있습니다.”
회사의 지난 실적 발표 이후 다른 주요 하이라이트는 다음과 같습니다:
* AWS의 AI 사업이 연환산 매출 기준 250억 달러를 초과했으며, 전년 대비 세 자릿수 비율로 성장했습니다.
* 칩 사업이 연환산 매출 기준 250억 달러를 초과했으며, 전년 대비 세 자릿수 비율로 성장했습니다.
* Trainium의 모멘텀을 계속 이어가며, 세계 2대 AI 연구소인 Anthropic과 OpenAI가 다년간, 다중 기가와트 규모의 약정을 체결했습니다. NEURA Robotics와 Odyssey 같은 유니콘을 포함한 점점 더 많은 AI 스타트업이 Trainium을 채택하고 있으며, TwelveLabs, Decart, Poolside, Karakuri, Inc., Metagenomi Therapeutics, Inc., NetoAI, Splash Music 같은 다른 스타트업과 Uber, Pinterest 같은 대기업의 약정도 있습니다.
* Graviton5를 정식 출시했습니다. Graviton은 비교 가능한 인스턴스보다 최대 30~40% 더 나은 가격 대비 성능을 제공하며, Graviton5는 Graviton4보다 최대 25% 더 나은 컴퓨팅 성능을 제공합니다. Graviton은 상위 1,000개 EC2 고객의 98%가 사용하고 있으며, 매출 약정은 전분기 대비 거의 3배 증가했고, Graviton5는 Graviton4보다 거의 2배 빠르게 성장하고 있습니다.
* OpenAI의 GPT-5.6, Anthropic의 Claude Opus 5, Google DeepMind의 Gemma 4, SpaceXAI의 Grok 4.3을 포함해 10개 이상의 완전 관리형 파운데이션 모델을 Amazon Bedrock에 추가했습니다. Amazon Bedrock은 뛰어난 성능과 기업에 필요한 거버넌스 및 보안 제어 기능을 갖춘 최고의 선도 모델 선택지를 제공하며 빠르게 성장하고 있습니다—현재 수십만 고객이 Bedrock을 사용하고 있으며, 지난 6개월 동안 출시 후 첫 2년보다 더 많은 고객이 추가되었고, 고객들은 2분기에 이전 모든 분기를 합친 것보다 더 많이 지출했습니다.
* 코드 취약점을 발견, 우선순위 지정, 검증, 수정하는 AWS Continuum을 미리 선보였습니다. 이는 팀이 이미 보유한 취약점 백로그를 수집하는 것으로 시작하여 새로운 프론티어 모델을 활용해 포괄적인 스캔을 실행합니다. Continuum은 에이전트와 각 기업의 자체 비즈니스 맥락을 사용해 중요한 것을 우선순위화한 다음, 샌드박스에서 취약점을 검증하고 수정 사항을 권장합니다.
* 기업이 에이전트를 대규모로 신속하고 안전하게 배포하고 운영하는 데 필요한 구성 요소를 제공하는 Bedrock AgentCore에 새로운 기능을 추가했습니다. 새로운 기능에는 에이전트가 자율적으로 거래를 실행할 수 있게 하는 Payments, AWS를 떠나지 않고 에이전트의 지식을 근거화하는 Web Search, 고객이 에이전트에 필요한 모든 인프라를 더 빠르게 연결할 수 있게 하는 Harness가 포함됩니다.
* 이메일, 캘린더, 로컬 또는 클라우드 파일, 사용자 정의 워크플로 전반에서 디지털 업무를 관리, 검색, 자동화하는 데 도움을 주는 지능형 AI 업무 동반자 Amazon Quick을 더욱 강력하게 만들었습니다. 고객이 평범한 언어로 설정하여 백그라운드에서 지속적으로 실행되고 다단계 작업을 수행하는 자율 에이전트, 이메일·메시지·캘린더·작업을 하나의 우선순위 보기로 모아주는 개인화된 활동 피드, Adobe, Moody’s, Snowflake를 포함한 16개의 새로운 통합을 추가했습니다. Quick은 Slack, Salesforce, Jira, Teams, ServiceNow 같은 주요 SaaS 도구 전반에서 관리하고, 기업의 기존 접근 제어를 시행하며, 회의 예약, 이메일 초안 작성 및 발송, CRM 레코드 업데이트, 대시보드 구축 등의 작업을 수행합니다.
* 사양 기반 코딩 에이전트인 Kiro를 iOS에서 사용할 수 있게 하여 개발자가 이제 휴대폰, 데스크톱, 명령줄, 웹에서 새 프로젝트를 시작하고, 진행 상황을 모니터링하고, 에이전트를 조종하고, Kiro 세션과 상호작용할 수 있습니다. Kiro는 대안보다 최대 50% 더 비용 효율적이며 전분기 대비 사용량이 3배 증가했습니다.
* 개발자가 소프트웨어를 안전하고 안정적으로 출시하도록 돕는 항상 사용 가능한 소프트웨어 운영 팀원인 AWS DevOps Agent에 새로운 기능을 추가했습니다. 여기에는 코드 변경의 준비 상태 검토를 수행하고 출시 전에 잠재적 문제를 발견하기 위해 릴리스를 자율적으로 테스트하는 Release Management가 포함됩니다.
* 수요에 따라 확장되는 에이전트 AI용 서버리스 인프라를 출시했습니다:
* Lambda MicroVMs는 인기 있는 AWS Lambda 서버리스 컴퓨팅 서비스의 새로운 형태로, 수요에 따라 즉시 시작 시간과 확장/축소 기능을 제공할 뿐만 아니라 이제 최대 8시간 지속되는 세션을 가진 상태 저장 런타임을 제공합니다—장기 실행 에이전트 루프, 다단계 파이프라인, 영구 데이터베이스 엔진에 이상적입니다.
* 차세대 OpenSearch Serverless는 에이전트가 대규모 데이터 전반에서 빠르게 검색할 수 있게 하며, 이전 세대보다 최대 20배 빠르게 용량을 확장하고, 최대 사용량을 위해 프로비저닝하는 것보다 최대 60% 비용을 절감합니다.
* Amazon OpenSearch Service용으로 특별 제작된 로그 분석 엔진은 에이전트 워크로드가 생성하는 방대한 로그 증가에 발맞추도록 설계되었습니다. 기존 범용 엔진보다 최대 4배 더 나은 가격 대비 성능, 동일 하드웨어에서 최대 2배 더 높은 데이터 수집, 최대 2배 더 빠른 분석 쿼리를 제공하면서 동일 비용으로 최대 3배 더 많은 데이터를 보존합니다—팀이 통찰력과 예산 중 하나를 선택하지 않고도 더 많은 관측 데이터를 보존하고 분석할 수 있게 합니다.
* AWS Forward Deployed Engineering을 만들기 위해 10억 달러 투자를 발표했습니다. 이는 고객과 직접 함께 배치되어 에이전트 AI 솔루션을 몇 달이 아닌 며칠 만에 공동 개발하고 배포하는 AI 엔지니어 팀입니다. 초기 고객에는 Allen Institute, Cox Automotive, NBA, NFL, Ricoh, Southwest Airlines가 포함됩니다.
* 국방 계약업체에게 기밀 혁신을 위한 더 빠르고 안전한 경로를 제공하는 AWS Secret Cloud for Industry의 정식 출시를 발표했으며, Northrop Grumman이 이 플랫폼에서 기밀 워크로드를 실행하는 첫 번째 기업이 되었고, 미국 정보 커뮤니티의 클라우드 마이그레이션 및 현대화를 가속화하기 위해 최대 10억 달러의 클라우드 크레딧을 약정했습니다.
* 글로벌 데이터 센터가 업계 평균보다 7배 이상 물 효율적이라고 발표했습니다. 아마존은 또한 2030년까지 글로벌 데이터 센터 운영 전반에서 물 긍정(water positive) 목표를 향해 75% 진전을 이루었으며, 인도의 직접 운영에서 2027년 목표보다 앞서 물 긍정 상태를 달성했습니다.
* Warner Bros. Discovery, Vodafone, Siemens Energy, Ryanair, Pinterest, Snowflake, Moody’s, Danske Bank, WNBA, Pennymac, Fiserv, WPP Enterprise Solutions, Vonage, Recursive, fal, Chai Discovery, Odyssey, TwelveLabs, Reactor, OpenRouter, Dash0, New York State Office of Information Technology Services, State of Iowa, University of South Florida, The University of Utah와 새로운 AWS 계약을 발표했습니다.
* 30분 이내에 수천 가지 일상 필수품을 배송하는 초고속 배송 서비스 Amazon Now를 계속 확장하여 미국 전역의 80개 신규 도시와 타운, 이집트의 여러 주요 도시를 추가했습니다. Amazon Now는 9개국, 전 세계 250개 이상의 도시와 타운에서 이용 가능하며, 고객들은 이를 좋아합니다—총 매출 및 판매 수량이 전분기 대비 80% 이상 성장하고 서비스 고객이 전분기 대비 60% 이상 증가했습니다.
* ADT Blu, Bobbi Brown, BROWN GIRL Jane, CR7 Underwear, LeGer, Mamonde, OLIVA COSMETICS, Rabanne, Ted Baker 같은 주목할 만한 브랜드의 70만 개 이상을 포함해 수백만 개의 신제품을 선택지에 추가했습니다.
* Rufus와 Alexa+를 Alexa for Shopping으로 통합했습니다. 이는 개인화된 추천, 제품 비교, 가격 이력을 제공하고 Price Alerts 및 Auto-Buy 같은 기능을 통해 쇼핑을 자동화하는 에이전트 AI 쇼핑 어시스턴트입니다. 전 세계 고객 채택과 참여가 2분기에 가속화되어 활성 사용자가 거의 2배로 증가하고 상호작용이 전년 대비 5배 이상 증가했습니다.
* Amazon Supply Chain Services를 출시하여 모든 기업이 아마존을 지원하는 동일한 공급망을 사용해 원자재부터 완제품까지 모든 것을 이동, 보관, 배송할 수 있게 했으며, Procter & Gamble, 3M, Lands’ End, American Eagle Outfitters가 첫 고객 중 하나입니다.
* 연환산 600억 달러에 도달
[원문 후반 발췌]
불확실성. 당사의 결과는 본질적으로 예측 불가능하며, 환율 및 에너지 가격 변동, 글로벌 경제 및 지정학적 조건 변화, 관세 및 무역 정책, 메모리 칩을 포함한 자원 및 공급 변동성, 고객 수요 및 지출(경기 침체 우려의 영향 포함), 인플레이션, 금리, 지역 노동 시장 제약, 세계 사건, 인터넷 성장률, 온라인 커머스, 클라우드 서비스, 신기술 및 신흥 기술, 그리고 아래에 상세히 설명된 다양한 요인 등 여러 요인에 의해 중대한 영향을 받을 수 있습니다.
2026년 3분기 가이던스
* 순매출은 1,970억 달러에서 2,020억 달러 사이, 즉 2025년 3분기 대비 9%에서 12% 성장할 것으로 예상됩니다. 2025년과 2026년 모두 Prime Day의 영향을 제외하면, 2026년 3분기 전년 대비 성장률은 약 400베이시스포인트 더 높아질 것입니다. 이 가이던스는 환율로 인한 약 80베이시스포인트의 불리한 영향을 예상합니다.
* 영업이익은 225억 달러에서 265억 달러 사이로 예상되며, 이는 2025년 3분기의 174억 달러와 비교됩니다.
* 이 가이던스는 무엇보다도 에너지 파생상품 계약 재측정의 영향이 없고, 추가 사업 인수가 없음을 가정합니다.
[원문 후반 발췌]
Kindle, Career Choice, Fire 태블릿, Fire TV, Amazon Echo, Alexa, Just Walk Out 기술, Amazon Studios, The Climate Pledge는 아마존이 개척한 것들 중 일부입니다. 자세한 내용은 amazon.com/about을 방문하고 @AmazonNews를 팔로우하세요.
**AMAZON.COM, INC.**
**연결 현금흐름표**
**(백만 달러 단위)**
**(미감사)**
**3개월 종료**
**6월 30일****6개월 종료**
**6월 30일****12개월 종료**
**6월 30일,**
**2025****2026****2025****2026****2025****2026**
현금, 현금성 자산 및 제한성 현금, 기초$69,893$104,692$82,312$90,106$71,673$61,453
영업 활동:
순이익 18,164 62,647 35,291 92,902 70,623 135,281
순이익을 영업 활동 순현금으로 조정:
유형자산 및 자본화 콘텐츠 비용, 운용리스 자산 및 기타의 감가상각 및 상각 15,227 19,988 29,489 38,933 58,562 75,200
주식 기반 보상 6,534 6,038 10,223 10,070 20,551 19,314
비영업 비용(수익), 순(1,258)(53,381)(4,075)(69,013)(4,702)(79,818)
이연 법인세 11 17,691 518 30,489(2,407)41,441
영업 자산 및 부채 변동:
재고(4,054)(1,818)(5,276)(196)(5,851)2,078
매출채권, 순 및 기타(1,125)(8,204)122(13,954)(4,602)(21,409)
기타 자
[원문 후반 발췌]
단기 부채 및 기타 2,093 9,368 3,908 15,386 8,187 20,798
단기 부채 및 기타 상환(1,392)(9,573)(3,474)(15,682)(7,901)(20,634)
장기 부채 조달—13,557 746 66,998 746 81,925
장기 부채 상환(2,751)(2,752)(2,751)(2,752)(7,434)(5,022)
금융리스 원금 상환(411)(395)(821)(863)(1,556)(1,599)
금융 의무 원금 상환(78)(59)(194)(174)(694)(308)
금융 활동으로 제공된(사용된) 순현금(2,539)10,146(2,586)62,913(8,652)75,160
현금, 현금성 자산 및 제한성 현금에 대한 환율 영향 1,008(53)1,424(54)864(314)
현금, 현금성 자산 및 제한성 현금의 순증가(감소)(8,440)(23,765)(20,859)(9,179)(10,220)19,474
현금, 현금성 자산 및 제한성 현금, 기말$61,453$80,927$61,453$80,927$61,453$80,927
보충 현금흐름 정보:
자본화 이자 차감 후 부채 이자 현금 지급$523$736$759$1,010$1,668$1,709
운용리스 현금 지급 3,758 3,489 7,320 7,804 13,485 15,522
금융리스 이자 현금 지급 72 85 143 187 284 339
금융 의무 이자 현금 지급 52 50 107 126 212 215
환급 차감 후 법인세 현금 지급 4,761 2,655 5,638 3,978 11,788 6,635
운용리스로 취득한 자산 4,621 7,670 8,942 13,909 16,702 24,897
본문이 길어 36990자 중 14971자만 처리했습니다.
브리프용 요약 초안
아마존 2026년 2분기 AWS 매출이 전년 대비 37% 증가한 422억 달러, 연환산 1,690억 달러를 기록했으며 AI·칩 사업이 각각 연환산 250억 달러를 돌파했다. 회사는 실적 불확실성 요인으로 메모리 칩을 포함한 자원·공급 변동성을 명시했으나, 구체적 메모리 제품·용량·공급업체는 공시하지 않았다. 메모리 산업과의 직접 연결 근거는 원문에서 확인되지 않는다.
원문 텍스트
원문 열기 ↗## News release details
July 30, 2026
_Net sales increased 20% year-over-year
Operating income was $27.5 billion, up 43% year-over-year
AWS net sales increased 37%—its fastest growth in 18 quarters—to a $169 billion annualized revenue run rate_
Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2026.
* **Net sales** increased 20% to $200.6 billion in the second quarter, compared with $167.7 billion in second quarter 2025. Excluding the $0.1 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 20% compared with second quarter 2025.
* North America segment sales increased 16% year-over-year to $116.2 billion.
* International segment sales increased 15% year-over-year to $42.2 billion.
* AWS segment sales increased 37% year-over-year to $42.2 billion.
* **Operating****income** increased to $27.5 billion in the second quarter, compared with $19.2 billion in second quarter 2025.
* North America segment operating income was $9.1 billion, compared with $7.5 billion in second quarter 2025.
* International segment operating income was $1.7 billion, compared with $1.5 billion in second quarter 2025.
* AWS segment operating income was $16.6 billion, compared with $10.2 billion in second quarter 2025.
* **Net income** increased to $62.6 billion in the second quarter, or $5.75 per diluted share, compared with $18.2 billion, or $1.68 per diluted share, in second quarter 2025.
* Second quarter 2026 net income includes non-operating pre-tax other income of $53.4 billion, primarily from our investments in Anthropic.
* **Operating cash flow** increased 33% to $161.4 billion for the trailing twelve months, compared with $121.1 billion for the trailing twelve months ended June 30, 2025.
* **Free cash flow** decreased to an outflow of $7.6 billion for the trailing twelve months, driven primarily by a year-over-year increase of $66.1 billion in purchases of property and equipment, net of proceeds from sales and incentives. This increase primarily reflects investments in artificial intelligence. This compares to free cash flow inflow of $18.2 billion for the trailing twelve months ended June 30, 2025.
“AWS is booming, growing 36.7% year-over-year in Q2—our fastest growth in 18 quarters—and our AI and Chips businesses each eclipsed run rates of more than $25 billion,” said Andy Jassy, President and CEO, Amazon. “In Stores, we again set record delivery speeds for Prime members in the first half of the year—over 40% more items delivered same-day or overnight, with Grocery and Everyday Essentials growing meaningfully faster than the rest of the business. And, Advertising had another strong quarter with 26% year-over-year growth. There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond.”
Some other highlights since the company’s last earnings announcement include that Amazon:
* Exceeded a $25 billion annual revenue run rate for AWS’s AI business, growing triple-digit percentages year-over-year.
* Exceeded a $25 billion annual revenue run rate for its chips business, growing triple-digit percentages year-over-year.
* Continued gaining momentum with Trainium, with the two leading AI labs in the world, Anthropic and OpenAI, making multi-year, multi-gigawatt commitments; an increasing number of AI start-ups adopting Trainium, including unicorns like NEURA Robotics and Odyssey; and commitments from other startups like TwelveLabs, Decart, Poolside, Karakuri, Inc., Metagenomi Therapeutics, Inc., NetoAI, and Splash Music, as well as larger companies like Uber and Pinterest.
* Released Graviton5 into general availability. Graviton delivers up to 30 to 40% better price-performance than comparable instances, and Graviton5 delivers up to 25% better compute performance than Graviton4. Graviton is used by 98% of the top 1,000 EC2 customers, revenue commitments have increased nearly 3x quarter-over-quarter, and Graviton5 is growing nearly 2x faster than Graviton4 did.
* Added 10+ fully managed foundation models to Amazon Bedrock, including OpenAI’s GPT-5.6, Anthropic’s Claude Opus 5, Google DeepMind’s Gemma 4, and SpaceXAI’s Grok 4.3. Amazon Bedrock provides the best selection of leading models, at superior performance, and with the governance and security controls that companies need, and it’s continuing to grow quickly—hundreds of thousands of customers now use Bedrock, more customers were added in the last six months than in the first two years after launch, and customers spent more in Q2 than all prior quarters combined.
* Previewed AWS Continuum, which discovers, prioritizes, validates, and remediates code vulnerabilities. It starts by ingesting the backlog of vulnerabilities a team already has, and then leverages the new frontier models to run comprehensive scans. Continuum uses agents and each company’s own business context to prioritize what matters, then validates vulnerabilities in a sandbox and recommends the fix.
* Added new capabilities to Bedrock AgentCore, which provides the building blocks that companies need to quickly and securely deploy and operate agents at scale. New capabilities include Payments (so agents can execute transactions autonomously), Web Search (to ground agents’ knowledge without having to leave AWS), and Harness, which further speeds up how fast customers can stitch together all the infrastructure they need for their agents.
* Made Amazon Quick—an intelligent AI work companion that helps manage, search, and automate digital workloads across email, calendar, local or cloud files, and custom workflows—even more capable, adding autonomous agents that customers set up in plain language to run continuously in the background and carry out multi-step tasks; a personalized activity feed that pulls email, messages, calendar, and tasks into one prioritized view; and 16 new integrations, including Adobe, Moody’s, and Snowflake. Quick manages across leading SaaS tools like Slack, Salesforce, Jira, Teams, and ServiceNow; enforces a company’s existing access controls; and takes actions like scheduling meetings, drafting and sending email, updating a CRM record, building a dashboard, and more.
* Made its spec-drive coding agent, Kiro, available on iOS so developers can now kick off a new project, monitor progress, steer an agent, and interact with Kiro sessions from their phone, desktop, command line, and the web. Kiro is up to 50% more cost-effective than alternatives and tripled in usage quarter-over-quarter.
* Added new capabilities to AWS DevOps Agent, an always-available software operations teammate that helps developers ship software safely and reliably, including Release Management to perform readiness reviews of code changes and autonomously test releases to spot potential issues before they go live.
* Launched serverless infrastructure for agentic AI that scales on demand, including:
* Lambda MicroVMs, a new flavor of the popular AWS Lambda serverless compute service that not only offers instant start times with the ability to scale all the way up or down depending on demand, but also now provides a stateful runtime with sessions that can last up to 8 hours—ideal for long-running agent loops, multi-step pipelines, or persistent database engines.
* Next-generation OpenSearch Serverless, which gives agents fast access to search across massive volumes of data, scales capacity up to 20x faster than the previous generation, and offers up to 60% cost savings versus provisioning for peak.
* Purpose-built log analytics engine for Amazon OpenSearch Service, designed to keep pace with the vast increase in logs being produced by agentic workloads. It delivers up to 4x better price performance compared to the existing general-purpose engine, up to 2x higher data ingestion on the same hardware, and up to 2x faster analytical queries, while retaining up to 3x more data at the same cost—enabling teams to retain and analyze more observability data without choosing between insight and budget.
* Announced an investment of $1 billion to create AWS Forward Deployed Engineering, a team of AI engineers embedded directly with customers to co-develop and deploy agentic AI solutions in days rather than months. Early customers include Allen Institute, Cox Automotive, the NBA, the NFL, Ricoh, and Southwest Airlines.
* Announced general availability of AWS Secret Cloud for Industry, giving defense contractors a faster, more secure path to classified innovation, with Northrop Grumman first to run classified workloads on the platform, and committed up to $1 billion in cloud credits to accelerate U.S. Intelligence Community cloud migration and modernization.
* Announced its global data centers are over 7x more water-efficient than the industry average. Amazon also reached 75% progress toward its goal to be water positive across global data center operations by 2030, and achieved water-positive status across its direct operations in India ahead of its 2027 target.
* Announced new AWS agreements with Warner Bros. Discovery, Vodafone, Siemens Energy, Ryanair, Pinterest, Snowflake, Moody’s, Danske Bank, WNBA, Pennymac, Fiserv, WPP Enterprise Solutions, Vonage, Recursive, fal, Chai Discovery, Odyssey, TwelveLabs, Reactor, OpenRouter, Dash0, New York State Office of Information Technology Services, State of Iowa, University of South Florida, and The University of Utah.
* Continued to expand its ultra-fast delivery service, Amazon Now, which offers delivery in 30 minutes or less on thousands of everyday essentials—adding 80 new cities and towns across the U.S. and several major cities in Egypt. Amazon Now is available in nine countries and over 250 cities and towns globally, and customers love it, with over 80% growth in gross sales and units sold quarter-over-quarter and over 60% more customers served quarter-over-quarter.
* Added millions of new products to its selection, including over 700,000 from notable brands like ADT Blu, Bobbi Brown, BROWN GIRL Jane, CR7 Underwear, LeGer, Mamonde, OLIVA COSMETICS, Rabanne, and Ted Baker.
* Brought together Rufus and Alexa+ into Alexa for Shopping, an agentic AI shopping assistant that offers personalized recommendations, product comparisons, price history, and the ability to automate shopping through features like Price Alerts and Auto-Buy. Worldwide customer adoption and engagement accelerated in Q2, with active users close to doubling and interactions up over 5x year-over-year.
* Launched Amazon Supply Chain Services so any business can move, store, and deliver everything from raw materials to finished products using the same supply chain that supports Amazon, with Procter & Gamble, 3M, Lands’ End, and American Eagle Outfitters among the first customers.
* Reached $60 billion in annualized gross sales for Amazon Business and continued to expand selection—adding nearly 30% more items compared to last year, including Same-Day Delivery of fresh groceries for businesses in 2,300+ U.S. cities and towns.
* Introduced the next-generation of Proteus, an autonomous robot that assists Amazon fulfillment center employees by moving goods up to 1,300 pounds, reducing heavy lifting and further increasing safety. Using AI, employees can now direct Proteus with plain, conversational language.
* Grew the number of new customers for Amazon Pharmacy by more than 2x in the first six months of the year, and same-day prescription deliveries nearly 5x. Also saved customers nearly $250 million so far this year in out-of-pocket costs, up more than 400% year-over-year, through manufacturer discounts applied automatically on an expanded selection of widely prescribed medications.
* Expanded Ads Agent—an AI-powered tool that simplifies planning, launching, and managing advertising campaigns and turns hours of setup and targeting into minutes—to 11 new countries so far this year. Advertisers using Ads Agent see 8% lower cost-per-impression and 6% lower cost-per-acquisition than those that don’t use it.
* Expanded Alexa+ to Germany, Austria, France, and Brazil, with hundreds of millions of customers now using new Alexa experiences, and that number growing every month. Alexa continues to drive meaningful momentum for the business, including in the U.S., where customers who use Alexa for Shopping spend an average of over 40% more per order than those who don’t, and customers who have tried Alexa+ are signing up for Prime at a nearly 25% higher rate.
* Drew 36 million viewers globally for the series premiere of _Off Campus_ on Prime Video in its first 12 days, becoming Prime Video’s No. 3 top-viewed series debut ever.
* Delivered strong viewership for inaugural season of NBA on Prime Video, with a peak of 6.5 million U.S. viewers for Game 7 of the Eastern Conference Semifinals (outperforming Game 7 on broadcast in 2025). In Europe, viewership of the NBA more than doubled year-over-year on Prime Video, with the highest average viewership on record.
* Averaged 2.3 million viewers during the second season of NASCAR on Prime Video and attracted the youngest audience the last two years among NASCAR broadcasters since 2017.
* Completed four additional launches for Amazon Leo, its low Earth orbit satellite network, bringing the total constellation to nearly 400 satellites in orbit—enough to begin initial satellite internet service this year.
* Received approval from the National Highway Traffic Safety Administration (Part 555 Exemption) for Zoox to charge for rides—the first purpose-built robotaxi to receive this exemption—paving the way for Zoox to begin offering paid commercial service to customers.
* Supported relief efforts following earthquakes in Venezuela with its Amazon Disaster Relief program, donating and delivering more than 650,000 emergency supplies to more than a dozen nonprofits and establishing weekly humanitarian relief flights to Caracas in a first-of-its-kind collaboration with Airlink, the U.S. State Department, and World Food Programme, delivering approximately 120 tons of supplies.
**Financial Guidance**The following forward-looking statements reflect Amazon.com’s expectations as of July 30, 2026, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates and energy prices, changes in global economic and geopolitical conditions, tariff and trade policies, resource and supply volatility, including for memory chips, and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies, and the various factors detailed below.
Third Quarter 2026 Guidance
* Net sales are expected to be between $197.0 billion and $202.0 billion, or to grow between 9% and 12% compared with third quarter 2025. Excluding the impact of Prime Day in both 2025 and 2026, third quarter 2026 year-over-year growth would be nearly 400 basis points higher. This guidance anticipates an unfavorable impact of approximately 80 basis points from foreign exchange rates.
* Operating income is expected to be between $22.5 billion and $26.5 billion, compared with $17.4 billion in third quarter 2025.
* This guidance assumes, among other things, no impact from energy derivative contract remeasurements, and that no additional business acquisitions, restructurings, or legal settlements are concluded.
**Conference Call Information**A conference call will be webcast live today at 2:00 p.m. PT/5:00 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company’s financial and operating results.
**Forward-Looking Statements**_These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, security incidents, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent filings._
**Additional Information**Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.
**About Amazon**Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
**AMAZON.COM, INC.**
**Consolidated Statements of Cash Flows**
**(in millions)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,****Twelve Months Ended**
**June 30,**
**2025****2026****2025****2026****2025****2026**
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD$69,893$104,692$82,312$90,106$71,673$61,453
OPERATING ACTIVITIES:
Net income 18,164 62,647 35,291 92,902 70,623 135,281
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 15,227 19,988 29,489 38,933 58,562 75,200
Stock-based compensation 6,534 6,038 10,223 10,070 20,551 19,314
Non-operating expense (income), net(1,258)(53,381)(4,075)(69,013)(4,702)(79,818)
Deferred income taxes 11 17,691 518 30,489(2,407)41,441
Changes in operating assets and liabilities:
Inventories(4,054)(1,818)(5,276)(196)(5,851)2,078
Accounts receivable, net and other(1,125)(8,204)122(13,954)(4,602)(21,409)
Other assets(2,971)(4,717)(6,373)(8,528)(15,100)(17,787)
Accounts payable 7,058 9,442(1,985)705 6,264 13,921
Accrued expenses and other(4,952)(2,018)(9,013)(10,063)(4,842)(6,069)
Unearned revenue(119)(281)609 74 2,641(749)
Net cash provided by (used in) operating activities 32,515 45,387 49,530 71,419 121,137 161,403
INVESTING ACTIVITIES:
Purchases of property and equipment(32,183)(54,208)(57,202)(98,411)(107,656)(173,028)
Proceeds from property and equipment sales and incentives 815 1,132 1,579 2,101 4,703 4,021
Acquisitions, net of cash acquired, non-marketable investments, and other, net(1,700)(24,359)(1,652)(39,767)(4,809)(41,956)
Sales and maturities of marketable securities 11,441 24,196 19,178 41,882 30,924 67,090
Purchases of marketable securities(17,797)(26,006)(31,130)(49,262)(46,731)(72,902)
Net cash provided by (used in) investing activities(39,424)(79,245)(69,227)(143,457)(123,569)(216,775)
FINANCING ACTIVITIES:
Proceeds from short-term debt, and other 2,093 9,368 3,908 15,386 8,187 20,798
Repayments of short-term debt, and other(1,392)(9,573)(3,474)(15,682)(7,901)(20,634)
Proceeds from long-term debt—13,557 746 66,998 746 81,925
Repayments of long-term debt(2,751)(2,752)(2,751)(2,752)(7,434)(5,022)
Principal repayments of finance leases(411)(395)(821)(863)(1,556)(1,599)
Principal repayments of financing obligations(78)(59)(194)(174)(694)(308)
Net cash provided by (used in) financing activities(2,539)10,146(2,586)62,913(8,652)75,160
Foreign currency effect on cash, cash equivalents, and restricted cash 1,008(53)1,424(54)864(314)
Net increase (decrease) in cash, cash equivalents, and restricted cash(8,440)(23,765)(20,859)(9,179)(10,220)19,474
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD$61,453$80,927$61,453$80,927$61,453$80,927
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$523$736$759$1,010$1,668$1,709
Cash paid for operating leases 3,758 3,489 7,320 7,804 13,485 15,522
Cash paid for interest on finance leases 72 85 143 187 284 339
Cash paid for interest on financing obligations 52 50 107 126 212 215
Cash paid for income taxes, net of refunds 4,761 2,655 5,638 3,978 11,788 6,635
Assets acquired under operating leases 4,621 7,670 8,942 13,909 16,702 24,897
Property and equipment acquired under finance leases, net of remeasurements and modifications 937 563 991 2,128 1,622 4,048
Increase (decrease) in property and equipment acquired but not yet paid(1,600)10,700 1,508 20,620 5,376 29,267
**AMAZON.COM, INC.**
**Consolidated Statements of Operations**
**(in millions, except per share data)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,**
**2025****2026****2025****2026**
Net product sales$68,246$77,602$132,216$148,906
Net service sales 99,456 123,004 191,153 233,219
Total net sales 167,702 200,606 323,369 382,125
Operating expenses:
Cost of sales 80,809 95,778 157,785 183,241
Fulfillment 25,976 29,633 50,569 56,922
Technology and infrastructure 27,166 33,158 50,160 62,725
Sales and marketing 11,416 11,698 21,179 22,012
General and administrative 2,965 2,788 5,593 5,375
Other operating expense (income), net 199 90 507 537
Total operating expenses 148,531 173,145 285,793 330,812
Operating income 19,171 27,461 37,576 51,313
Interest income 1,085 1,295 2,151 2,430
Interest expense(516)(1,314)(1,057)(2,114)
Other income (expense), net 1,117 53,415 3,866 69,062
Total non-operating income 1,686 53,396 4,960 69,378
Income before income taxes 20,857 80,857 42,536 120,691
Provision for income taxes(2,678)(18,199)(7,231)(27,759)
Equity-method investment activity, net of tax(15)(11)(14)(30)
Net income$18,164$62,647$35,291$92,902
Basic earnings per share$1.71$5.82$3.32$8.64
Diluted earnings per share$1.68$5.75$3.27$8.53
Weighted-average shares used in computation of earnings per share:
Basic 10,637 10,769 10,620 10,756
Diluted 10,806 10,903 10,800 10,889
**AMAZON.COM, INC.**
**Consolidated Statements of Comprehensive Income**
**(in millions)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,**
**2025****2026****2025****2026**
Net income$18,164$62,647$35,291$92,902
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $(142), $(66), $(208), and $(79)3,314(799)4,849(1,563)
Unrealized gains (losses) on net investment hedging instruments, net of tax of $0, $(69), $0, and $(45)—229—144
Available-for-sale debt securities:
Change in net unrealized gains (losses), net of tax of $(12), $(13,695), $(23), and $(14,035)40 41,988 77 42,814
Less: reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $5, $0, $814, and $1,142(17)—(2,471)(3,337)
Net change 23 41,988(2,394)39,477
Other, net of tax of $(1), $1, $0, and $(1)(3)1(1)(1)
Total other comprehensive income (loss)3,334 41,419 2,454 38,057
Comprehensive income$21,498$104,066$37,745$130,959
**AMAZON.COM, INC.**
**Segment Information**
**(in millions)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,**
**2025****2026****2025****2026**
**North America**
Net sales$100,068$116,177$192,955$220,320
Operating expenses 92,551 107,054 179,597 202,930
Operating income$7,517$9,123$13,358$17,390
**International**
Net sales$36,761$42,197$70,274$81,986
Operating expenses 35,267 40,480 67,763 78,845
Operating income$1,494$1,717$2,511$3,141
**AWS**
Net sales$30,873$42,232$60,140$79,819
Operating expenses 20,713 25,611 38,433 49,037
Operating income$10,160$16,621$21,707$30,782
**Consolidated**
Net sales$167,702$200,606$323,369$382,125
Operating expenses 148,531 173,145 285,793 330,812
Operating income 19,171 27,461 37,576 51,313
Total non-operating income 1,686 53,396 4,960 69,378
Provision for income taxes(2,678)(18,199)(7,231)(27,759)
Equity-method investment activity, net of tax(15)(11)(14)(30)
Net income$18,164$62,647$35,291$92,902
**Segment Highlights:**
Y/Y net sales growth:
North America 11%16%9%14%
International 16 15 10 17
AWS 17 37 17 33
Consolidated 13 20 11 18
Net sales mix:
North America 60%58%60%58%
International 22 21 22 21
AWS 18 21 18 21
Consolidated 100%100%100%100%
**AMAZON.COM, INC.**
**Consolidated Balance Sheets**
**(in millions, except per share data)**
**December 31, 2025****June 30, 2026**
**(unaudited)**
**ASSETS**
Current assets:
Cash and cash equivalents$86,810$78,213
Marketable securities 36,219 44,775
Inventories 38,325 38,184
Accounts receivable, net and other 67,729 88,092
Total current assets 229,083 249,264
Property and equipment, net 357,025 446,046
Operating leases 86,054 92,743
Goodwill 23,273 23,504
Other assets 122,607 284,132
Total assets$818,042$1,095,689
**LIABILITIES AND STOCKHOLDERS’ EQUITY**
Current liabilities:
Accounts payable$121,909$147,440
Accrued expenses and other 75,520 73,406
Unearned revenue 20,576 20,428
Total current liabilities 218,005 241,274
Long-term lease liabilities 87,339 94,338
Long-term debt 65,648 128,894
Other long-term liabilities 35,985 79,563
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding)——
Common stock ($0.01 par value; 100,000 shares authorized; 11,246 and 11,298 shares issued; 10,731 and 10,783 shares outstanding)112 113
Treasury stock, at cost(7,837)(7,837)
Additional paid-in capital 140,024 149,619
Accumulated other comprehensive income (loss)28,230 66,287
Retained earnings 250,536 343,438
Total stockholders’ equity 411,065 551,620
Total liabilities and stockholders’ equity$818,042$1,095,689
**AMAZON.COM, INC.**
**Supplemental Financial Information and Business Metrics**
**(in millions, except per share data)**
**(unaudited)**
**Q1 2025****Q2 2025****Q3 2025****Q4 2025****Q1 2026****Q2 2026****Y/Y %**
**Change**
**Cash Flows and Shares**
Operating cash flow -- trailing twelve months (TTM)$113,903$121,137$130,691$139,514$148,531$161,403 33%
Operating cash flow -- TTM Y/Y growth 15%12%16%20%30%33%N/A
Purchases of property and equipment, net of proceeds from sales and incentives -- TTM$87,978$102,953$115,903$128,320$147,299$169,007 64%
Free cash flow -- TTM (1)$25,925$18,184$14,788$11,194$1,232$(7,604)(142)%
Common shares and stock-based awards outstanding 10,876 10,952 10,955 10,953 10,949 11,027 1%
Common shares outstanding 10,613 10,660 10,687 10,731 10,754 10,783 1%
Stock-based awards outstanding 263 292 268 222 195 244(16)%
Stock-based awards outstanding -- % of common shares outstanding 2.5%2.7%2.5%2.1%1.8%2.3%N/A
**Results of Operations**
Worldwide (WW) net sales$155,667$167,702$180,169$213,386$181,519$200,606 20%
WW net sales -- Y/Y growth, excluding F/X 10%12%12%12%15%20%N/A
WW net sales -- TTM$650,313$670,038$691,330$716,924$742,776$775,680 16%
WW net sales -- TTM Y/Y growth, excluding F/X 11%11%11%12%13%15%N/A
Operating income$18,405$19,171$17,422$24,977$23,852$27,461 43%
F/X impact -- favorable (unfavorable)$53$153$129$23$(33)$(105)N/A
Operating income -- Y/Y growth (decline), excluding F/X 20%30%(1)%18%30%44%N/A
Operating margin -- % of WW net sales 11.8%11.4%9.7%11.7%13.1%13.7%N/A
Operating income -- TTM$71,691$76,190$76,201$79,975$85,422$93,712 23%
Operating income -- TTM Y/Y growth, excluding F/X 51%40%25%16%19%23%N/A
Operating margin -- TTM % of WW net sales 11.0%11.4%11.0%11.2%11.5%12.1%N/A
Net income$17,127$18,164$21,187$21,192$30,255$62,647 245%
Net income per diluted share$1.59$1.68$1.95$1.95$2.78$5.75 242%
Net income -- TTM$65,944$70,623$76,482$77,670$90,798$135,281 92%
Net income per diluted share -- TTM$6.13$6.55$7.08$7.17$8.37$12.44 90%
(1)Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and incentives.”
**AMAZON.COM, INC.**
**Supplemental Financial Information and Business Metrics**
**(in millions)**
**(unaudited)**
**Q1 2025****Q2 2025****Q3 2025****Q4 2025****Q1 2026****Q2 2026****Y/Y %**
**Change**
**Segments**
North America Segment:
Net sales$92,887$100,068$106,267$127,083$104,143$116,177 16%
Net sales -- Y/Y growth, excluding F/X 8%11%11%10%12%16%N/A
Net sales -- TTM$394,043$404,078$414,808$426,305$437,561$453,670 12%
Operating income$5,841$7,517$4,789$11,472$8,267$9,123 21%
F/X impact -- unfavorable$(32)$(46)$(53)$(73)$(41)$(6)N/A
Operating income -- Y/Y growth (decline), excluding F/X 18%49%(14)%25%42%21%N/A
Operating margin -- % of North America net sales 6.3%7.5%4.5%9.0%7.9%7.9%N/A
Operating income -- TTM$25,825$28,277$27,403$29,619$32,045$33,651 19%
Operating margin -- TTM % of North America net sales 6.6%7.0%6.6%6.9%7.3%7.4%N/A
International Segment:
Net sales$33,513$36,761$40,896$50,724$39,789$42,197 15%
Net sales -- Y/Y growth, excluding F/X 8%11%10%11%11%15%N/A
Net sales -- TTM$144,484$149,582$154,590$161,894$168,170$173,606 16%
Operating income$1,017$1,494$1,199$1,040$1,424$1,717 15%
F/X impact -- favorable (unfavorable)$(56)$338$302$319$347$(43)N/A
Operating income -- Y/Y growth (decline), excluding F/X 19%324%(31)%(45)%6%18%N/A
Operating margin -- % of International net sales 3.0%4.1%2.9%2.1%3.6%4.1%N/A
Operating income -- TTM$3,906$5,127$5,025$4,750$5,157$5,380 5%
Operating margin -- TTM % of International net sales 2.7%3.4%3.2%2.9%3.1%3.1%N/A
AWS Segment:
Net sales$29,267$30,873$33,006$35,579$37,587$42,232 37%
Net sales -- Y/Y growth, excluding F/X 17%17%20%24%28%37%N/A
Net sales -- TTM$111,786$116,378$121,932$128,725$137,045$148,404 28%
Operating income$11,547$10,160$11,434$12,465$14,161$16,621 64%
F/X impact -- favorable (unfavorable)$141$(139)$(120)$(223)$(339)$(56)N/A
Operating income -- Y/Y growth, excluding F/X 21%10%11%19%26%64%N/A
Operating margin -- % of AWS net sales 39.5%32.9%34.6%35.0%37.7%39.4%N/A
Operating income -- TTM$41,960$42,786$43,773$45,606$48,220$54,681 28%
Operating margin -- TTM % of AWS net sales 37.5%36.8%35.9%35.4%35.2%36.8%N/A
**AMAZON.COM, INC.**
**Supplemental Financial Information and Business Metrics**
**(in millions, except employee data)**
**(unaudited)**
**Q1 2025****Q2 2025****Q3 2025****Q4 2025****Q1 2026****Q2 2026****Y/Y %**
**Change**
**Net Sales**
Online stores (1)$57,407$61,485$67,407$82,988$64,254$70,432 15%
Online stores -- Y/Y growth, excluding F/X 6%10%8%8%9%15%N/A
Physical stores (2)$5,533$5,595$5,578$5,855$5,785$5,794 4%
Physical stores -- Y/Y growth, excluding F/X 6%7%7%5%4%4%N/A
Third-party seller services (3)$36,512$40,348$42,486$52,816$41,578$46,780 16%
Third-party seller services -- Y/Y growth, excluding F/X 7%10%11%10%12%16%N/A
Advertising services (4)$13,921$15,694$17,703$21,317$17,243$19,809 26%
Advertising services -- Y/Y growth, excluding F/X 19%22%22%22%22%26%N/A
Subscription services (5)$11,715$12,208$12,574$13,122$13,427$13,730 12%
Subscription services -- Y/Y growth, excluding F/X 11%11%10%12%12%12%N/A
AWS$29,267$30,873$33,006$35,579$37,587$42,232 37%
AWS -- Y/Y growth, excluding F/X 17%17%20%24%28%37%N/A
Other (6)$1,312$1,499$1,415$1,709$1,645$1,829 22%
Other -- Y/Y growth, excluding F/X 4%18%7%7%25%23%N/A
**Stock-based Compensation Expense**
Cost of sales$148$250$197$182$171$208(17)%
Fulfillment$497$880$685$641$601$764(13)%
Technology and infrastructure$2,060$3,655$2,697$2,459$2,286$3,701 1%
Sales and marketing$653$1,207$832$753$663$845(30)%
General and administrative$331$542$436$362$311$520(4)%
Total stock-based compensation expense$3,689$6,534$4,847$4,397$4,032$6,038(8)%
**Other**
WW shipping costs$22,495$23,370$25,384$31,492$25,709$27,873 19%
WW shipping costs -- Y/Y growth 3%6%8%10%14%19%N/A
WW paid units -- Y/Y growth (7)8%12%11%12%15%17%N/A
WW seller unit mix -- % of WW paid units (7)61%62%62%61%60%61%N/A
Employees (full-time and part-time; excludes contractors & temporary personnel)1,560,000 1,546,000 1,578,000 1,576,000 1,575,000 1,595,000 3%
Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth 3%1%2%1%1%3%N/A
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
(7)Excludes the impact of Whole Foods Market.
**Amazon.com, Inc.****Certain Definitions**
_Customer Accounts_
* References to customers mean customer accounts established when a customer places an order through one of our stores. Customer accounts exclude certain customers, including customers associated with certain of our acquisitions, Amazon Payments customers, AWS customers, and the customers of select companies with whom we have a technology alliance or marketing and promotional relationship. Customers are considered active when they have placed an order during the preceding twelve-month period.
_Seller Accounts_
* References to sellers means seller accounts, which are established when a seller receives an order from a customer account. Sellers are considered active when they have received an order from a customer during the preceding twelve-month period.
_AWS Customers_
* References to AWS customers mean unique AWS customer accounts, which are unique customer account IDs that are eligible to use AWS services. This includes AWS accounts in the AWS free tier. Multiple users accessing AWS services via one account ID are counted as a single account. Customers are considered active when they have had AWS usage activity during the preceding one-month period.
_Units_
* References to units mean physical and digital units sold (net of returns and cancellations) by us and sellers in our stores as well as Amazon-owned items sold in other stores. Units sold are paid units and do not include units associated with AWS, certain acquisitions, certain subscriptions, rental businesses, or advertising businesses, or Amazon gift cards.
Source: Amazon.com, Inc.
**Multimedia Files:**
July 30, 2026
_Net sales increased 20% year-over-year
Operating income was $27.5 billion, up 43% year-over-year
AWS net sales increased 37%—its fastest growth in 18 quarters—to a $169 billion annualized revenue run rate_
Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2026.
* **Net sales** increased 20% to $200.6 billion in the second quarter, compared with $167.7 billion in second quarter 2025. Excluding the $0.1 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 20% compared with second quarter 2025.
* North America segment sales increased 16% year-over-year to $116.2 billion.
* International segment sales increased 15% year-over-year to $42.2 billion.
* AWS segment sales increased 37% year-over-year to $42.2 billion.
* **Operating****income** increased to $27.5 billion in the second quarter, compared with $19.2 billion in second quarter 2025.
* North America segment operating income was $9.1 billion, compared with $7.5 billion in second quarter 2025.
* International segment operating income was $1.7 billion, compared with $1.5 billion in second quarter 2025.
* AWS segment operating income was $16.6 billion, compared with $10.2 billion in second quarter 2025.
* **Net income** increased to $62.6 billion in the second quarter, or $5.75 per diluted share, compared with $18.2 billion, or $1.68 per diluted share, in second quarter 2025.
* Second quarter 2026 net income includes non-operating pre-tax other income of $53.4 billion, primarily from our investments in Anthropic.
* **Operating cash flow** increased 33% to $161.4 billion for the trailing twelve months, compared with $121.1 billion for the trailing twelve months ended June 30, 2025.
* **Free cash flow** decreased to an outflow of $7.6 billion for the trailing twelve months, driven primarily by a year-over-year increase of $66.1 billion in purchases of property and equipment, net of proceeds from sales and incentives. This increase primarily reflects investments in artificial intelligence. This compares to free cash flow inflow of $18.2 billion for the trailing twelve months ended June 30, 2025.
“AWS is booming, growing 36.7% year-over-year in Q2—our fastest growth in 18 quarters—and our AI and Chips businesses each eclipsed run rates of more than $25 billion,” said Andy Jassy, President and CEO, Amazon. “In Stores, we again set record delivery speeds for Prime members in the first half of the year—over 40% more items delivered same-day or overnight, with Grocery and Everyday Essentials growing meaningfully faster than the rest of the business. And, Advertising had another strong quarter with 26% year-over-year growth. There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond.”
Some other highlights since the company’s last earnings announcement include that Amazon:
* Exceeded a $25 billion annual revenue run rate for AWS’s AI business, growing triple-digit percentages year-over-year.
* Exceeded a $25 billion annual revenue run rate for its chips business, growing triple-digit percentages year-over-year.
* Continued gaining momentum with Trainium, with the two leading AI labs in the world, Anthropic and OpenAI, making multi-year, multi-gigawatt commitments; an increasing number of AI start-ups adopting Trainium, including unicorns like NEURA Robotics and Odyssey; and commitments from other startups like TwelveLabs, Decart, Poolside, Karakuri, Inc., Metagenomi Therapeutics, Inc., NetoAI, and Splash Music, as well as larger companies like Uber and Pinterest.
* Released Graviton5 into general availability. Graviton delivers up to 30 to 40% better price-performance than comparable instances, and Graviton5 delivers up to 25% better compute performance than Graviton4. Graviton is used by 98% of the top 1,000 EC2 customers, revenue commitments have increased nearly 3x quarter-over-quarter, and Graviton5 is growing nearly 2x faster than Graviton4 did.
* Added 10+ fully managed foundation models to Amazon Bedrock, including OpenAI’s GPT-5.6, Anthropic’s Claude Opus 5, Google DeepMind’s Gemma 4, and SpaceXAI’s Grok 4.3. Amazon Bedrock provides the best selection of leading models, at superior performance, and with the governance and security controls that companies need, and it’s continuing to grow quickly—hundreds of thousands of customers now use Bedrock, more customers were added in the last six months than in the first two years after launch, and customers spent more in Q2 than all prior quarters combined.
* Previewed AWS Continuum, which discovers, prioritizes, validates, and remediates code vulnerabilities. It starts by ingesting the backlog of vulnerabilities a team already has, and then leverages the new frontier models to run comprehensive scans. Continuum uses agents and each company’s own business context to prioritize what matters, then validates vulnerabilities in a sandbox and recommends the fix.
* Added new capabilities to Bedrock AgentCore, which provides the building blocks that companies need to quickly and securely deploy and operate agents at scale. New capabilities include Payments (so agents can execute transactions autonomously), Web Search (to ground agents’ knowledge without having to leave AWS), and Harness, which further speeds up how fast customers can stitch together all the infrastructure they need for their agents.
* Made Amazon Quick—an intelligent AI work companion that helps manage, search, and automate digital workloads across email, calendar, local or cloud files, and custom workflows—even more capable, adding autonomous agents that customers set up in plain language to run continuously in the background and carry out multi-step tasks; a personalized activity feed that pulls email, messages, calendar, and tasks into one prioritized view; and 16 new integrations, including Adobe, Moody’s, and Snowflake. Quick manages across leading SaaS tools like Slack, Salesforce, Jira, Teams, and ServiceNow; enforces a company’s existing access controls; and takes actions like scheduling meetings, drafting and sending email, updating a CRM record, building a dashboard, and more.
* Made its spec-drive coding agent, Kiro, available on iOS so developers can now kick off a new project, monitor progress, steer an agent, and interact with Kiro sessions from their phone, desktop, command line, and the web. Kiro is up to 50% more cost-effective than alternatives and tripled in usage quarter-over-quarter.
* Added new capabilities to AWS DevOps Agent, an always-available software operations teammate that helps developers ship software safely and reliably, including Release Management to perform readiness reviews of code changes and autonomously test releases to spot potential issues before they go live.
* Launched serverless infrastructure for agentic AI that scales on demand, including:
* Lambda MicroVMs, a new flavor of the popular AWS Lambda serverless compute service that not only offers instant start times with the ability to scale all the way up or down depending on demand, but also now provides a stateful runtime with sessions that can last up to 8 hours—ideal for long-running agent loops, multi-step pipelines, or persistent database engines.
* Next-generation OpenSearch Serverless, which gives agents fast access to search across massive volumes of data, scales capacity up to 20x faster than the previous generation, and offers up to 60% cost savings versus provisioning for peak.
* Purpose-built log analytics engine for Amazon OpenSearch Service, designed to keep pace with the vast increase in logs being produced by agentic workloads. It delivers up to 4x better price performance compared to the existing general-purpose engine, up to 2x higher data ingestion on the same hardware, and up to 2x faster analytical queries, while retaining up to 3x more data at the same cost—enabling teams to retain and analyze more observability data without choosing between insight and budget.
* Announced an investment of $1 billion to create AWS Forward Deployed Engineering, a team of AI engineers embedded directly with customers to co-develop and deploy agentic AI solutions in days rather than months. Early customers include Allen Institute, Cox Automotive, the NBA, the NFL, Ricoh, and Southwest Airlines.
* Announced general availability of AWS Secret Cloud for Industry, giving defense contractors a faster, more secure path to classified innovation, with Northrop Grumman first to run classified workloads on the platform, and committed up to $1 billion in cloud credits to accelerate U.S. Intelligence Community cloud migration and modernization.
* Announced its global data centers are over 7x more water-efficient than the industry average. Amazon also reached 75% progress toward its goal to be water positive across global data center operations by 2030, and achieved water-positive status across its direct operations in India ahead of its 2027 target.
* Announced new AWS agreements with Warner Bros. Discovery, Vodafone, Siemens Energy, Ryanair, Pinterest, Snowflake, Moody’s, Danske Bank, WNBA, Pennymac, Fiserv, WPP Enterprise Solutions, Vonage, Recursive, fal, Chai Discovery, Odyssey, TwelveLabs, Reactor, OpenRouter, Dash0, New York State Office of Information Technology Services, State of Iowa, University of South Florida, and The University of Utah.
* Continued to expand its ultra-fast delivery service, Amazon Now, which offers delivery in 30 minutes or less on thousands of everyday essentials—adding 80 new cities and towns across the U.S. and several major cities in Egypt. Amazon Now is available in nine countries and over 250 cities and towns globally, and customers love it, with over 80% growth in gross sales and units sold quarter-over-quarter and over 60% more customers served quarter-over-quarter.
* Added millions of new products to its selection, including over 700,000 from notable brands like ADT Blu, Bobbi Brown, BROWN GIRL Jane, CR7 Underwear, LeGer, Mamonde, OLIVA COSMETICS, Rabanne, and Ted Baker.
* Brought together Rufus and Alexa+ into Alexa for Shopping, an agentic AI shopping assistant that offers personalized recommendations, product comparisons, price history, and the ability to automate shopping through features like Price Alerts and Auto-Buy. Worldwide customer adoption and engagement accelerated in Q2, with active users close to doubling and interactions up over 5x year-over-year.
* Launched Amazon Supply Chain Services so any business can move, store, and deliver everything from raw materials to finished products using the same supply chain that supports Amazon, with Procter & Gamble, 3M, Lands’ End, and American Eagle Outfitters among the first customers.
* Reached $60 billion in annualized gross sales for Amazon Business and continued to expand selection—adding nearly 30% more items compared to last year, including Same-Day Delivery of fresh groceries for businesses in 2,300+ U.S. cities and towns.
* Introduced the next-generation of Proteus, an autonomous robot that assists Amazon fulfillment center employees by moving goods up to 1,300 pounds, reducing heavy lifting and further increasing safety. Using AI, employees can now direct Proteus with plain, conversational language.
* Grew the number of new customers for Amazon Pharmacy by more than 2x in the first six months of the year, and same-day prescription deliveries nearly 5x. Also saved customers nearly $250 million so far this year in out-of-pocket costs, up more than 400% year-over-year, through manufacturer discounts applied automatically on an expanded selection of widely prescribed medications.
* Expanded Ads Agent—an AI-powered tool that simplifies planning, launching, and managing advertising campaigns and turns hours of setup and targeting into minutes—to 11 new countries so far this year. Advertisers using Ads Agent see 8% lower cost-per-impression and 6% lower cost-per-acquisition than those that don’t use it.
* Expanded Alexa+ to Germany, Austria, France, and Brazil, with hundreds of millions of customers now using new Alexa experiences, and that number growing every month. Alexa continues to drive meaningful momentum for the business, including in the U.S., where customers who use Alexa for Shopping spend an average of over 40% more per order than those who don’t, and customers who have tried Alexa+ are signing up for Prime at a nearly 25% higher rate.
* Drew 36 million viewers globally for the series premiere of _Off Campus_ on Prime Video in its first 12 days, becoming Prime Video’s No. 3 top-viewed series debut ever.
* Delivered strong viewership for inaugural season of NBA on Prime Video, with a peak of 6.5 million U.S. viewers for Game 7 of the Eastern Conference Semifinals (outperforming Game 7 on broadcast in 2025). In Europe, viewership of the NBA more than doubled year-over-year on Prime Video, with the highest average viewership on record.
* Averaged 2.3 million viewers during the second season of NASCAR on Prime Video and attracted the youngest audience the last two years among NASCAR broadcasters since 2017.
* Completed four additional launches for Amazon Leo, its low Earth orbit satellite network, bringing the total constellation to nearly 400 satellites in orbit—enough to begin initial satellite internet service this year.
* Received approval from the National Highway Traffic Safety Administration (Part 555 Exemption) for Zoox to charge for rides—the first purpose-built robotaxi to receive this exemption—paving the way for Zoox to begin offering paid commercial service to customers.
* Supported relief efforts following earthquakes in Venezuela with its Amazon Disaster Relief program, donating and delivering more than 650,000 emergency supplies to more than a dozen nonprofits and establishing weekly humanitarian relief flights to Caracas in a first-of-its-kind collaboration with Airlink, the U.S. State Department, and World Food Programme, delivering approximately 120 tons of supplies.
**Financial Guidance**The following forward-looking statements reflect Amazon.com’s expectations as of July 30, 2026, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates and energy prices, changes in global economic and geopolitical conditions, tariff and trade policies, resource and supply volatility, including for memory chips, and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies, and the various factors detailed below.
Third Quarter 2026 Guidance
* Net sales are expected to be between $197.0 billion and $202.0 billion, or to grow between 9% and 12% compared with third quarter 2025. Excluding the impact of Prime Day in both 2025 and 2026, third quarter 2026 year-over-year growth would be nearly 400 basis points higher. This guidance anticipates an unfavorable impact of approximately 80 basis points from foreign exchange rates.
* Operating income is expected to be between $22.5 billion and $26.5 billion, compared with $17.4 billion in third quarter 2025.
* This guidance assumes, among other things, no impact from energy derivative contract remeasurements, and that no additional business acquisitions, restructurings, or legal settlements are concluded.
**Conference Call Information**A conference call will be webcast live today at 2:00 p.m. PT/5:00 p.m. ET, and will be available for at least three months at amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company’s financial and operating results.
**Forward-Looking Statements**_These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, security incidents, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent filings._
**Additional Information**Our investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.
**About Amazon**Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
**AMAZON.COM, INC.**
**Consolidated Statements of Cash Flows**
**(in millions)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,****Twelve Months Ended**
**June 30,**
**2025****2026****2025****2026****2025****2026**
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD$69,893$104,692$82,312$90,106$71,673$61,453
OPERATING ACTIVITIES:
Net income 18,164 62,647 35,291 92,902 70,623 135,281
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 15,227 19,988 29,489 38,933 58,562 75,200
Stock-based compensation 6,534 6,038 10,223 10,070 20,551 19,314
Non-operating expense (income), net(1,258)(53,381)(4,075)(69,013)(4,702)(79,818)
Deferred income taxes 11 17,691 518 30,489(2,407)41,441
Changes in operating assets and liabilities:
Inventories(4,054)(1,818)(5,276)(196)(5,851)2,078
Accounts receivable, net and other(1,125)(8,204)122(13,954)(4,602)(21,409)
Other assets(2,971)(4,717)(6,373)(8,528)(15,100)(17,787)
Accounts payable 7,058 9,442(1,985)705 6,264 13,921
Accrued expenses and other(4,952)(2,018)(9,013)(10,063)(4,842)(6,069)
Unearned revenue(119)(281)609 74 2,641(749)
Net cash provided by (used in) operating activities 32,515 45,387 49,530 71,419 121,137 161,403
INVESTING ACTIVITIES:
Purchases of property and equipment(32,183)(54,208)(57,202)(98,411)(107,656)(173,028)
Proceeds from property and equipment sales and incentives 815 1,132 1,579 2,101 4,703 4,021
Acquisitions, net of cash acquired, non-marketable investments, and other, net(1,700)(24,359)(1,652)(39,767)(4,809)(41,956)
Sales and maturities of marketable securities 11,441 24,196 19,178 41,882 30,924 67,090
Purchases of marketable securities(17,797)(26,006)(31,130)(49,262)(46,731)(72,902)
Net cash provided by (used in) investing activities(39,424)(79,245)(69,227)(143,457)(123,569)(216,775)
FINANCING ACTIVITIES:
Proceeds from short-term debt, and other 2,093 9,368 3,908 15,386 8,187 20,798
Repayments of short-term debt, and other(1,392)(9,573)(3,474)(15,682)(7,901)(20,634)
Proceeds from long-term debt—13,557 746 66,998 746 81,925
Repayments of long-term debt(2,751)(2,752)(2,751)(2,752)(7,434)(5,022)
Principal repayments of finance leases(411)(395)(821)(863)(1,556)(1,599)
Principal repayments of financing obligations(78)(59)(194)(174)(694)(308)
Net cash provided by (used in) financing activities(2,539)10,146(2,586)62,913(8,652)75,160
Foreign currency effect on cash, cash equivalents, and restricted cash 1,008(53)1,424(54)864(314)
Net increase (decrease) in cash, cash equivalents, and restricted cash(8,440)(23,765)(20,859)(9,179)(10,220)19,474
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD$61,453$80,927$61,453$80,927$61,453$80,927
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$523$736$759$1,010$1,668$1,709
Cash paid for operating leases 3,758 3,489 7,320 7,804 13,485 15,522
Cash paid for interest on finance leases 72 85 143 187 284 339
Cash paid for interest on financing obligations 52 50 107 126 212 215
Cash paid for income taxes, net of refunds 4,761 2,655 5,638 3,978 11,788 6,635
Assets acquired under operating leases 4,621 7,670 8,942 13,909 16,702 24,897
Property and equipment acquired under finance leases, net of remeasurements and modifications 937 563 991 2,128 1,622 4,048
Increase (decrease) in property and equipment acquired but not yet paid(1,600)10,700 1,508 20,620 5,376 29,267
**AMAZON.COM, INC.**
**Consolidated Statements of Operations**
**(in millions, except per share data)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,**
**2025****2026****2025****2026**
Net product sales$68,246$77,602$132,216$148,906
Net service sales 99,456 123,004 191,153 233,219
Total net sales 167,702 200,606 323,369 382,125
Operating expenses:
Cost of sales 80,809 95,778 157,785 183,241
Fulfillment 25,976 29,633 50,569 56,922
Technology and infrastructure 27,166 33,158 50,160 62,725
Sales and marketing 11,416 11,698 21,179 22,012
General and administrative 2,965 2,788 5,593 5,375
Other operating expense (income), net 199 90 507 537
Total operating expenses 148,531 173,145 285,793 330,812
Operating income 19,171 27,461 37,576 51,313
Interest income 1,085 1,295 2,151 2,430
Interest expense(516)(1,314)(1,057)(2,114)
Other income (expense), net 1,117 53,415 3,866 69,062
Total non-operating income 1,686 53,396 4,960 69,378
Income before income taxes 20,857 80,857 42,536 120,691
Provision for income taxes(2,678)(18,199)(7,231)(27,759)
Equity-method investment activity, net of tax(15)(11)(14)(30)
Net income$18,164$62,647$35,291$92,902
Basic earnings per share$1.71$5.82$3.32$8.64
Diluted earnings per share$1.68$5.75$3.27$8.53
Weighted-average shares used in computation of earnings per share:
Basic 10,637 10,769 10,620 10,756
Diluted 10,806 10,903 10,800 10,889
**AMAZON.COM, INC.**
**Consolidated Statements of Comprehensive Income**
**(in millions)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,**
**2025****2026****2025****2026**
Net income$18,164$62,647$35,291$92,902
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $(142), $(66), $(208), and $(79)3,314(799)4,849(1,563)
Unrealized gains (losses) on net investment hedging instruments, net of tax of $0, $(69), $0, and $(45)—229—144
Available-for-sale debt securities:
Change in net unrealized gains (losses), net of tax of $(12), $(13,695), $(23), and $(14,035)40 41,988 77 42,814
Less: reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $5, $0, $814, and $1,142(17)—(2,471)(3,337)
Net change 23 41,988(2,394)39,477
Other, net of tax of $(1), $1, $0, and $(1)(3)1(1)(1)
Total other comprehensive income (loss)3,334 41,419 2,454 38,057
Comprehensive income$21,498$104,066$37,745$130,959
**AMAZON.COM, INC.**
**Segment Information**
**(in millions)**
**(unaudited)**
**Three Months Ended**
**June 30,****Six Months Ended**
**June 30,**
**2025****2026****2025****2026**
**North America**
Net sales$100,068$116,177$192,955$220,320
Operating expenses 92,551 107,054 179,597 202,930
Operating income$7,517$9,123$13,358$17,390
**International**
Net sales$36,761$42,197$70,274$81,986
Operating expenses 35,267 40,480 67,763 78,845
Operating income$1,494$1,717$2,511$3,141
**AWS**
Net sales$30,873$42,232$60,140$79,819
Operating expenses 20,713 25,611 38,433 49,037
Operating income$10,160$16,621$21,707$30,782
**Consolidated**
Net sales$167,702$200,606$323,369$382,125
Operating expenses 148,531 173,145 285,793 330,812
Operating income 19,171 27,461 37,576 51,313
Total non-operating income 1,686 53,396 4,960 69,378
Provision for income taxes(2,678)(18,199)(7,231)(27,759)
Equity-method investment activity, net of tax(15)(11)(14)(30)
Net income$18,164$62,647$35,291$92,902
**Segment Highlights:**
Y/Y net sales growth:
North America 11%16%9%14%
International 16 15 10 17
AWS 17 37 17 33
Consolidated 13 20 11 18
Net sales mix:
North America 60%58%60%58%
International 22 21 22 21
AWS 18 21 18 21
Consolidated 100%100%100%100%
**AMAZON.COM, INC.**
**Consolidated Balance Sheets**
**(in millions, except per share data)**
**December 31, 2025****June 30, 2026**
**(unaudited)**
**ASSETS**
Current assets:
Cash and cash equivalents$86,810$78,213
Marketable securities 36,219 44,775
Inventories 38,325 38,184
Accounts receivable, net and other 67,729 88,092
Total current assets 229,083 249,264
Property and equipment, net 357,025 446,046
Operating leases 86,054 92,743
Goodwill 23,273 23,504
Other assets 122,607 284,132
Total assets$818,042$1,095,689
**LIABILITIES AND STOCKHOLDERS’ EQUITY**
Current liabilities:
Accounts payable$121,909$147,440
Accrued expenses and other 75,520 73,406
Unearned revenue 20,576 20,428
Total current liabilities 218,005 241,274
Long-term lease liabilities 87,339 94,338
Long-term debt 65,648 128,894
Other long-term liabilities 35,985 79,563
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding)——
Common stock ($0.01 par value; 100,000 shares authorized; 11,246 and 11,298 shares issued; 10,731 and 10,783 shares outstanding)112 113
Treasury stock, at cost(7,837)(7,837)
Additional paid-in capital 140,024 149,619
Accumulated other comprehensive income (loss)28,230 66,287
Retained earnings 250,536 343,438
Total stockholders’ equity 411,065 551,620
Total liabilities and stockholders’ equity$818,042$1,095,689
**AMAZON.COM, INC.**
**Supplemental Financial Information and Business Metrics**
**(in millions, except per share data)**
**(unaudited)**
**Q1 2025****Q2 2025****Q3 2025****Q4 2025****Q1 2026****Q2 2026****Y/Y %**
**Change**
**Cash Flows and Shares**
Operating cash flow -- trailing twelve months (TTM)$113,903$121,137$130,691$139,514$148,531$161,403 33%
Operating cash flow -- TTM Y/Y growth 15%12%16%20%30%33%N/A
Purchases of property and equipment, net of proceeds from sales and incentives -- TTM$87,978$102,953$115,903$128,320$147,299$169,007 64%
Free cash flow -- TTM (1)$25,925$18,184$14,788$11,194$1,232$(7,604)(142)%
Common shares and stock-based awards outstanding 10,876 10,952 10,955 10,953 10,949 11,027 1%
Common shares outstanding 10,613 10,660 10,687 10,731 10,754 10,783 1%
Stock-based awards outstanding 263 292 268 222 195 244(16)%
Stock-based awards outstanding -- % of common shares outstanding 2.5%2.7%2.5%2.1%1.8%2.3%N/A
**Results of Operations**
Worldwide (WW) net sales$155,667$167,702$180,169$213,386$181,519$200,606 20%
WW net sales -- Y/Y growth, excluding F/X 10%12%12%12%15%20%N/A
WW net sales -- TTM$650,313$670,038$691,330$716,924$742,776$775,680 16%
WW net sales -- TTM Y/Y growth, excluding F/X 11%11%11%12%13%15%N/A
Operating income$18,405$19,171$17,422$24,977$23,852$27,461 43%
F/X impact -- favorable (unfavorable)$53$153$129$23$(33)$(105)N/A
Operating income -- Y/Y growth (decline), excluding F/X 20%30%(1)%18%30%44%N/A
Operating margin -- % of WW net sales 11.8%11.4%9.7%11.7%13.1%13.7%N/A
Operating income -- TTM$71,691$76,190$76,201$79,975$85,422$93,712 23%
Operating income -- TTM Y/Y growth, excluding F/X 51%40%25%16%19%23%N/A
Operating margin -- TTM % of WW net sales 11.0%11.4%11.0%11.2%11.5%12.1%N/A
Net income$17,127$18,164$21,187$21,192$30,255$62,647 245%
Net income per diluted share$1.59$1.68$1.95$1.95$2.78$5.75 242%
Net income -- TTM$65,944$70,623$76,482$77,670$90,798$135,281 92%
Net income per diluted share -- TTM$6.13$6.55$7.08$7.17$8.37$12.44 90%
(1)Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and incentives.”
**AMAZON.COM, INC.**
**Supplemental Financial Information and Business Metrics**
**(in millions)**
**(unaudited)**
**Q1 2025****Q2 2025****Q3 2025****Q4 2025****Q1 2026****Q2 2026****Y/Y %**
**Change**
**Segments**
North America Segment:
Net sales$92,887$100,068$106,267$127,083$104,143$116,177 16%
Net sales -- Y/Y growth, excluding F/X 8%11%11%10%12%16%N/A
Net sales -- TTM$394,043$404,078$414,808$426,305$437,561$453,670 12%
Operating income$5,841$7,517$4,789$11,472$8,267$9,123 21%
F/X impact -- unfavorable$(32)$(46)$(53)$(73)$(41)$(6)N/A
Operating income -- Y/Y growth (decline), excluding F/X 18%49%(14)%25%42%21%N/A
Operating margin -- % of North America net sales 6.3%7.5%4.5%9.0%7.9%7.9%N/A
Operating income -- TTM$25,825$28,277$27,403$29,619$32,045$33,651 19%
Operating margin -- TTM % of North America net sales 6.6%7.0%6.6%6.9%7.3%7.4%N/A
International Segment:
Net sales$33,513$36,761$40,896$50,724$39,789$42,197 15%
Net sales -- Y/Y growth, excluding F/X 8%11%10%11%11%15%N/A
Net sales -- TTM$144,484$149,582$154,590$161,894$168,170$173,606 16%
Operating income$1,017$1,494$1,199$1,040$1,424$1,717 15%
F/X impact -- favorable (unfavorable)$(56)$338$302$319$347$(43)N/A
Operating income -- Y/Y growth (decline), excluding F/X 19%324%(31)%(45)%6%18%N/A
Operating margin -- % of International net sales 3.0%4.1%2.9%2.1%3.6%4.1%N/A
Operating income -- TTM$3,906$5,127$5,025$4,750$5,157$5,380 5%
Operating margin -- TTM % of International net sales 2.7%3.4%3.2%2.9%3.1%3.1%N/A
AWS Segment:
Net sales$29,267$30,873$33,006$35,579$37,587$42,232 37%
Net sales -- Y/Y growth, excluding F/X 17%17%20%24%28%37%N/A
Net sales -- TTM$111,786$116,378$121,932$128,725$137,045$148,404 28%
Operating income$11,547$10,160$11,434$12,465$14,161$16,621 64%
F/X impact -- favorable (unfavorable)$141$(139)$(120)$(223)$(339)$(56)N/A
Operating income -- Y/Y growth, excluding F/X 21%10%11%19%26%64%N/A
Operating margin -- % of AWS net sales 39.5%32.9%34.6%35.0%37.7%39.4%N/A
Operating income -- TTM$41,960$42,786$43,773$45,606$48,220$54,681 28%
Operating margin -- TTM % of AWS net sales 37.5%36.8%35.9%35.4%35.2%36.8%N/A
**AMAZON.COM, INC.**
**Supplemental Financial Information and Business Metrics**
**(in millions, except employee data)**
**(unaudited)**
**Q1 2025****Q2 2025****Q3 2025****Q4 2025****Q1 2026****Q2 2026****Y/Y %**
**Change**
**Net Sales**
Online stores (1)$57,407$61,485$67,407$82,988$64,254$70,432 15%
Online stores -- Y/Y growth, excluding F/X 6%10%8%8%9%15%N/A
Physical stores (2)$5,533$5,595$5,578$5,855$5,785$5,794 4%
Physical stores -- Y/Y growth, excluding F/X 6%7%7%5%4%4%N/A
Third-party seller services (3)$36,512$40,348$42,486$52,816$41,578$46,780 16%
Third-party seller services -- Y/Y growth, excluding F/X 7%10%11%10%12%16%N/A
Advertising services (4)$13,921$15,694$17,703$21,317$17,243$19,809 26%
Advertising services -- Y/Y growth, excluding F/X 19%22%22%22%22%26%N/A
Subscription services (5)$11,715$12,208$12,574$13,122$13,427$13,730 12%
Subscription services -- Y/Y growth, excluding F/X 11%11%10%12%12%12%N/A
AWS$29,267$30,873$33,006$35,579$37,587$42,232 37%
AWS -- Y/Y growth, excluding F/X 17%17%20%24%28%37%N/A
Other (6)$1,312$1,499$1,415$1,709$1,645$1,829 22%
Other -- Y/Y growth, excluding F/X 4%18%7%7%25%23%N/A
**Stock-based Compensation Expense**
Cost of sales$148$250$197$182$171$208(17)%
Fulfillment$497$880$685$641$601$764(13)%
Technology and infrastructure$2,060$3,655$2,697$2,459$2,286$3,701 1%
Sales and marketing$653$1,207$832$753$663$845(30)%
General and administrative$331$542$436$362$311$520(4)%
Total stock-based compensation expense$3,689$6,534$4,847$4,397$4,032$6,038(8)%
**Other**
WW shipping costs$22,495$23,370$25,384$31,492$25,709$27,873 19%
WW shipping costs -- Y/Y growth 3%6%8%10%14%19%N/A
WW paid units -- Y/Y growth (7)8%12%11%12%15%17%N/A
WW seller unit mix -- % of WW paid units (7)61%62%62%61%60%61%N/A
Employees (full-time and part-time; excludes contractors & temporary personnel)1,560,000 1,546,000 1,578,000 1,576,000 1,575,000 1,595,000 3%
Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth 3%1%2%1%1%3%N/A
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
(7)Excludes the impact of Whole Foods Market.
**Amazon.com, Inc.****Certain Definitions**
_Customer Accounts_
* References to customers mean customer accounts established when a customer places an order through one of our stores. Customer accounts exclude certain customers, including customers associated with certain of our acquisitions, Amazon Payments customers, AWS customers, and the customers of select companies with whom we have a technology alliance or marketing and promotional relationship. Customers are considered active when they have placed an order during the preceding twelve-month period.
_Seller Accounts_
* References to sellers means seller accounts, which are established when a seller receives an order from a customer account. Sellers are considered active when they have received an order from a customer during the preceding twelve-month period.
_AWS Customers_
* References to AWS customers mean unique AWS customer accounts, which are unique customer account IDs that are eligible to use AWS services. This includes AWS accounts in the AWS free tier. Multiple users accessing AWS services via one account ID are counted as a single account. Customers are considered active when they have had AWS usage activity during the preceding one-month period.
_Units_
* References to units mean physical and digital units sold (net of returns and cancellations) by us and sellers in our stores as well as Amazon-owned items sold in other stores. Units sold are paid units and do not include units associated with AWS, certain acquisitions, certain subscriptions, rental businesses, or advertising businesses, or Amazon gift cards.
Source: Amazon.com, Inc.
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