More from AMZN Q2 2026

Amazon.com, Inc.

AMZN2026 Q2Technology

1mo

AWS AI and core growth linkage via inference near-data CPU workloads

Management said AWS revenue growth was driven by both core and AI services, with growth in one pulling the other.
Jassy explained post-training reinforcement learning and agent tool use are mostly done on CPUs versus AI accelerators, benefiting AWS core consumption.
He stated inference workloads increasingly reside in AWS near customer applications and data, which supports continued migrations and scaling.
Graviton competitiveness was cited as a key advantage, offering up to 30%–40% better price performance versus other options.
Management indicated the AI-to-core relationship should strengthen as more AI workloads move into full-scale production.

Amazon.com, Inc.

AMZN2026 Q2Technology

1mo

Financial Performance Summary

Amazon Stores metrics highlighted: over 700,000 brand products added; Amazon Haul items under $10 grew to over 6M; Prime Day saw more than 80% of deals at the lowest price of the year.
AWS revenue was $42.2B, up 36.7% YoY, reaching a $169B annualized run-rate; AWS operating income was $16.6B with 39% operating margin (with +650 bps YoY, or 520 bps excluding derivative accounting gain).
International revenue was $42.2B (+15% YoY excluding FX) with operating income $1.7B and operating margin 4.1%.
North America revenue was $116.2B (+16% YoY) with operating income $9.1B and operating margin 7.9%.
Operating income was $27.5B, up 43% YoY.
Q2 included ~ $1.2B of expense reductions from tariff-related refunds (~$600M in North America) and energy-contract fair value measurement benefit (~$600M primarily impacting AWS).
Worldwide revenue was $200.6B, up 20% YoY (excluding FX).

Amazon.com, Inc.

AMZN2026 Q2Technology

1mo

Excluding the impact of Prime Day… third quarter 2026 year-over-year growth would have been nearly 400 basis points higher.

Brian Olsavsky

CFO, Amazon.com, Inc.

Context

Olsavsky discussed guidance drivers for sequential deceleration from Q2 to Q3. He identified two sequential deceleration drivers: Prime Day timing shift to Q2 in most major countries (including the U.S.) and an ~80 bps unfavorable FX impact. He said Prime Day timing creates modeling noise but that adjusted stores trends remain strong across first-half momentum.

More from AMZN Q2 2026

Amazon.com, Inc.

AMZN2026 Q2Technology

1mo

AWS AI and core growth linkage via inference near-data CPU workloads

Management said AWS revenue growth was driven by both core and AI services, with growth in one pulling the other.
Jassy explained post-training reinforcement learning and agent tool use are mostly done on CPUs versus AI accelerators, benefiting AWS core consumption.
He stated inference workloads increasingly reside in AWS near customer applications and data, which supports continued migrations and scaling.
Graviton competitiveness was cited as a key advantage, offering up to 30%–40% better price performance versus other options.
Management indicated the AI-to-core relationship should strengthen as more AI workloads move into full-scale production.

Amazon.com, Inc.

AMZN2026 Q2Technology

1mo

Financial Performance Summary

Amazon Stores metrics highlighted: over 700,000 brand products added; Amazon Haul items under $10 grew to over 6M; Prime Day saw more than 80% of deals at the lowest price of the year.
AWS revenue was $42.2B, up 36.7% YoY, reaching a $169B annualized run-rate; AWS operating income was $16.6B with 39% operating margin (with +650 bps YoY, or 520 bps excluding derivative accounting gain).
International revenue was $42.2B (+15% YoY excluding FX) with operating income $1.7B and operating margin 4.1%.
North America revenue was $116.2B (+16% YoY) with operating income $9.1B and operating margin 7.9%.
Operating income was $27.5B, up 43% YoY.
Q2 included ~ $1.2B of expense reductions from tariff-related refunds (~$600M in North America) and energy-contract fair value measurement benefit (~$600M primarily impacting AWS).
Worldwide revenue was $200.6B, up 20% YoY (excluding FX).

Amazon.com, Inc.

AMZN2026 Q2Technology

1mo

Excluding the impact of Prime Day… third quarter 2026 year-over-year growth would have been nearly 400 basis points higher.

Brian Olsavsky

CFO, Amazon.com, Inc.

Context

Amazon.com, Inc.: AWS acceleration rate hit the fastest pace in 18 quarters

More from AMZN Q2 2026

Amazon.com, Inc. 2026 Q2: AWS AI and core growth linkage via inference near-data CPU workloads

Amazon.com, Inc. 2026 Q2: Financial Performance summary

More from AMZN Q2 2026

More from AMZN Q2 2026

Amazon.com, Inc. 2026 Q2: AWS AI and core growth linkage via inference near-data CPU workloads

Amazon.com, Inc. 2026 Q2: Financial Performance summary