AMZN
Amazon Q2 FY26 earnings
Revenue $200.6B, up 20% from a year ago. Net income $62.6B.
Amazon grew revenue 20% to $200.6B. AWS grew 37% to 21% of revenue, and advertising grew 26% to $19.8B. Net income of $62.6B includes $53.4B of other income, drawn and marked on the card.
AWS: $129B in FY25, more than three and a half times FY19.
AWS brought in $35.0B in FY19 and $128.7B in FY25, more than three and a half times as much. The three segments sum to consolidated net sales to the dollar in every year drawn.
Advertising: $68.6B in FY25, more than five times FY19.
Amazon's advertising services line reached $68.6B in FY25, from $12.6B in FY19, the earliest year Amazon has filed for the line. The definition has not changed a word across the span, as filed.
Where the revenue came from
| Segment | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| Online stores | $70.4B | 35.1% | +15% |
| Third-party seller services | $46.8B | 23.3% | +16% |
| AWS | $42.2B | 21.1% | +37% |
| Advertising services | $19.8B | 9.9% | +26% |
| Subscription services | $13.7B | 6.8% | +12% |
| Physical stores | $5.8B | 2.9% | +4% |
| Other | $1.8B | 0.9% | +22% |
The quarter, line by line
| Line | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| Revenue | $200.6B | +20% | |
| Cost of revenue | $95.8B | 47.7% | +19% |
| Gross profit † | $104.8B | 52.3% | +21% |
| Operating expenses † | $77.4B | 38.6% | +14% |
| Operating income | $27.5B | 13.7% | +43% |
| Pretax income | $80.9B | 40.3% | |
| Income tax | $18.2B | 9.1% | +580% |
| Net income | $62.6B | 31.2% | +245% |
† The filing doesn't print this line. We calculated it from the filed figures; it adds up to the dollar.
The last 8 quarters
| Quarter ended | Revenue | Net income | Net margin |
|---|---|---|---|
| Jun 30, 2026 | $200.6B | $62.6B | 31.2% |
| Mar 31, 2026 | $181.5B | $30.3B | 16.7% |
| Dec 31, 2025 | $213.4B | $21.2B | 9.9% |
| Sep 30, 2025 | $180.2B | $21.2B | 11.8% |
| Jun 30, 2025 | $167.7B | $18.2B | 10.8% |
| Mar 31, 2025 | $155.7B | $17.1B | 11.0% |
| Dec 31, 2024 | $187.8B | $20.0B | 10.7% |
| Sep 30, 2024 | $158.9B | $15.3B | 9.6% |