Amazon.com, Inc.
Amazon.com, Inc. Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Amazon.com, Inc. Q2 FY26 key numbers
- Revenue
- Q2 net sales are expected between $194 billion and $199 billion, with a slight FX headwind (~10 bps).
As stated in Amazon.com, Inc.'s Q2 FY26 earnings call transcript · published 29 May 2026. Reported figures, not investment advice.
The short version
- Q2 net sales are expected between $194 billion and $199 billion, with a slight FX headwind (~10 bps). - Q2 net sales expected between $194 billion and $199 billion.
From Amazon.com, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Q2 net sales are expected between $194 billion and $199 billion, with a slight FX headwind (~10 bps).
- AWS revenue grew 28% YoY in Q1, the fastest in 15 quarters, now at a $150 billion annual run rate.
- AI-related AWS revenue is growing triple digits YoY; AI is driving strong demand and core growth.
- Significant investments planned to support AI growth and cloud migrations.
- Expansion in Prime membership and strong third-party seller performance fueling sales growth.
- Increasing adoption of AI-driven improvements in advertising and Agentic Commerce expected to boost revenue.
- Amazon Leo satellite service is anticipated to become a large multibillion-dollar revenue business long-term.
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Profitability & Margins
Read what Amazon.com, Inc. said on margins in the Q2 FY26 call
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Capital Expenditure Plans
- Amazon plans significant capital investment over the coming years to scale compute and capacity, especially to support AI growth and the once-in-a-lifetime opportunity AI presents.
- Q1 cash CapEx was $43.2 billion, primarily related to AWS and generative AI to meet strong customer demand.
- Investment includes manufacturing and launching more satellites for Amazon Leo, with a year-over-year cost increase of about $1 billion expected in Q2 related to this.
- Capitalizing certain costs of Amazon Leo production and launch starting Q4.
- Continued investment in latest generation robotics and automation technology across fulfillment centers to improve efficiency, safety, productivity, and reduce costs.
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Order Book & Pipeline
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What the Q2 FY26 call signalled
2 of 4 strong
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What Amazon.com, Inc.'s management said in earlier quarters
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Frequently Asked Questions
What were Amazon.com, Inc. Q2 FY26 results?
- Q2 net sales are expected between $194 billion and $199 billion, with a slight FX headwind (~10 bps). - Q2 net sales expected between $194 billion and $199 billion.
What is Amazon.com, Inc. share price analysis?
Amazon.com, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 31.7 with a market cap of $2,947,448. Investors should review the full earnings analysis for detailed insights.
Is Amazon.com, Inc. planning capital expenditure?
- Amazon plans significant capital investment over the coming years to scale compute and capacity, especially to support AI growth and the once-in-a-lifetime opportunity AI presents.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.