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How Amazon (AMZN) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/30/2026
Amazon (company) — Amazon.com, Inc. is an American multinational conglomerate engaged in e-commerce, retail, cloud computing, online advertising, digital streaming, entertainment, and artificial intelligence. · Wikipedia
More about the company
Founded in 1994 by Jeff Bezos in Bellevue, Washington, the company started as an online book marketplace that gradually expanded to include virtually all consumer products as well as many other categories, positioned as "The Everything Store".
Key growth driver: North America — the fastest-growing revenue line: $116,177, +16% y/y. · by the Q2 2026 report
How does Amazon make money?
Amazon brought in $201 billion of revenue in Q2 2026, up 20% year over year. The largest source was North America: $116 billion, or 58% of the total, followed by AWS ($42.2B, 21%) and International ($42.2B, 21%). Net income for the quarter was $62.6 billion, up 245% year over year.
Revenue by source, Q2 2026
- North America$116B · 58% · +16%
- AWS$42.2B · 21% · +37%
- International$42.2B · 21% · +15%
Shares of $201B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is AMZN’s next earnings date?
Thursday, October 29, 2026estimated
Amazon (AMZN) has not confirmed the date yet; Oct 29, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $2.02 (13 analysts), vs $1.95 in the same quarter last year.
What time does AMZN report? Usually after market close: the last 4 results releases reached the SEC at 4:06 pm, 4:18 pm, 4:25 pm, 4:13 pm ET.
Last report: Jul 30, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$200,606
+20%
Gross profit
$104,828
+21%
Operating income
$27,461
+43%
13.7% margin
Net income
$62,647
+245%
$5.75 diluted EPS
Verdict: an exceptional quarter with net sales up 20% and operating income up 43% driven by AWS's fastest growth in 18 quarters, while net income's 245% surge is mostly a one-off $53.4B non-operating gain tied to the Anthropic investment rather than core operations.
OCF (TTM) $161.4B, +33% y/y; FCF (TTM) turned negative to -$7.6B on surging AI capex; Q3 2026 guidance: net sales $197.0-202.0B (+9-12%), operating income $22.5-26.5B.
Source and notation
* marks non-cash / ≈ estimated. Source: Amazon.com press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
AMZN earnings history: past report dates
| Jul 30, 2026 Thu | 4:06 pmafter market close | Jun 30, 2026 | $201B+20% y/y | $5.75+242% y/y |
| Apr 29, 2026 Wed | 4:18 pmafter market close | Mar 31, 2026 | $182B+17% y/y | $2.78+75% y/y |
| Feb 5, 2026 Thu | 4:25 pmafter market close | Dec 31, 2025 | ≈$213B+14% y/y | ≈$1.95+5% y/y |
| Oct 30, 2025 Thu | 4:13 pmafter market close | Sep 30, 2025 | $180B+13% y/y | $1.95+36% y/y |
| Jul 31, 2025 Thu | 4:13 pmafter market close | Jun 30, 2025 | $168B+13% y/y | $1.68+33% y/y |
| May 1, 2025 Thu | 4:15 pmafter market close | Mar 31, 2025 | $156B+9% y/y | $1.59+62% y/y |
| Feb 6, 2025 Thu | 4:09 pmafter market close | Dec 31, 2024 | ≈$188B+10% y/y | ≈$1.86+86% y/y |
| Oct 31, 2024 Thu | 4:13 pmafter market close | Sep 30, 2024 | $159B+11% y/y | $1.43+52% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Amazon: 5-year financials
| 2025 | 716,924 | 79,975 | 77,670 |
| 2024 | 637,959 | 68,593 | 59,248 |
| 2023 | 574,785 | 36,852 | 30,425 |
| 2022 | 513,983 | 12,248 | −2,722 |
| 2021 | 469,822 | 24,879 | 33,364 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2026Per the 2025 10-K, Amazon has a single class of common stock; SBC of $19.5B = 2.7% of $717B revenue. sec.gov ↗
- Dec 2025Diluted shares +6.2% over 2020–2025. data.sec.gov ↗
- Apr 20262026 proxy: Amazon expected to pay Blue Origin (Bezos's company) about $2.7B for satellite launches through 2028; other dealings with his companies run to single-digit millions of dollars. sec.gov ↗
- Oct 2025In 02/2025 the Court of Chancery dismissed a derivative suit over the Blue Origin contracts, finding no grounds to doubt the board's impartiality; the case is on appeal. news.bloomberglaw.com ↗
Scoring: 2.0, no deductions: single share class, dilution +6% over 5 years (<10%), SBC 2.7% of revenue; no settled shareholder suits or SEC cases; the suit over the Blue Origin contract was dismissed by the court
- Share classes
- Single class of common stock (2025 10-K cover).
- Dilution
- Diluted shares +6.2% over 2020–2025, SBC of $19.5B = 2.7% of revenue — below thresholds.
- Disclosure
- Full US GAAP reporting: 10-K and 10-Q filed on EDGAR on time.
- Dividends
- No dividend, none promised; buybacks are sporadic ($6B in 2022).
- Lawsuits & regulators
- The 2025 10-K lists no shareholder suits or SEC cases; the FTC settlement over Prime concerns consumers.
- Related parties
- The Kuiper launch contract with Bezos's Blue Origin (~$2.7B) is disclosed in the proxy; the derivative suit over it was dismissed by the Court of Chancery (02/2025), on appeal — no deduction, since non-market terms were not established.
How the score works · checked as of Sep 2026
Amazon (AMZN) earnings: FAQ
How does Amazon make money?
Amazon brought in $201 billion of revenue in Q2 2026, up 20% year over year. The largest source was North America: $116 billion, or 58% of the total, followed by AWS ($42.2B, 21%) and International ($42.2B, 21%). Net income for the quarter was $62.6 billion, up 245% year over year.
When is AMZN's next earnings date?
Amazon (AMZN) has not confirmed the date yet; Oct 29, 2026 is an estimate based on its past reporting schedule.
What time does AMZN report earnings?
Amazon usually reports after market close: its latest results release was filed with the SEC at 4:06 pm ET on Jul 30, 2026.
When did AMZN last report earnings?
Amazon reported Q2 2026 results on Jul 30, 2026.
What is the EPS estimate for AMZN's next earnings?
The consensus EPS forecast is $2.02 (13 analysts), vs $1.95 in the same quarter last year.
Where can I find Amazon's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to AMZN's filings; this page breaks the latest report down in a Sankey chart.
What was AMZN's net income in Q2 2026?
Amazon reported net income of $62,647M for Q2 2026 (+245% year over year), under US GAAP.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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