# Fundamentals #0059: Amazon.com: 3Q2026 results

Date: 2026-11-02 10:42
URL: https://heniu.blog/en/f-log/flog-2026-11-02-0059/
Author: Heniu (heniu.blog). Text license: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/).

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Amazon.com (AMZN) revenues in the third quarter were 201.94 billion USD (12.1% y/y), while earnings per share (GAAP) fell by 3.1% y/y to 1.89 USD.

### Quarterly results

Earnings per share (GAAP, diluted) was 1.92 USD (−3.0% y/y).

### Company guidance

In the fourth quarter of 2026, the company expects revenues in the range of 240.00 billion USD – 247.00 billion USD, which would mean revenue growth at a level of 12.0% – 16.0%, while operating income in the same period is expected to be 28.50 billion USD – 33.50 billion USD.

### Management commentary

Management emphasized that demand for AWS computing power is so high that customers are utilizing new resources almost as quickly as the company installs them. According to management, the company has very good visibility into AWS demand for the coming years, as large blocks of capacity are reserved well in advance. Management indicated that the rapid growth of AI services is lowering the overall AWS margin, as margins in AI are currently lower than in core cloud services. According to management, AI represents an exceptional, historic opportunity, so the company will continue to invest heavily to remain a leader. Management also mentioned that more and more repetitive tasks in logistics centers will be performed by robots, and new facilities are being designed with a high degree of robotics. According to management, selling their own chips externally generates faster revenue, however, using them in their own cloud brings more total revenue and cash.