Amazon Q3 2026: AWS revenue rose 39% as EPS missed expectations
As seen on the 24/7 Wall St. homepage on October 29, 2026.
AWS revenue grew 39% to $45.98 billion, its fastest in nearly five years, with Jassy projecting over 40% growth in both 2027 and 2028. Amazon is holding 2026 capital spending at roughly $220 billion to feed it, while EPS and revenue came in narrowly missing expectations.
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Amazon posted Q3 2026 GAAP earnings of $1.89 per share, missing expectations, with a Prime Day calendar shift pulling retail growth into Q2 and making top-line momentum look softer than underlying demand.
AWS revenue rose 39% to $45.98 billion, the fastest growth rate in nearly five years, and Andy Jassy said AWS growth is projected to exceed 40% in both 2027 and 2028.
Net income fell 2.37% year over year only because Q3 2025 included pre-tax gains from investments in Anthropic that did not repeat, while operating income rose 61.15%.
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Amazon is holding 2026 capital expenditures at roughly $220 billion to keep AWS growing at that pace, and Jassy told the earnings call Amazon will have two trillion-dollar revenue businesses within five to ten years.
Fourth-quarter guidance calls for net sales growth of 12% to 16%, with advertising revenue growth reaccelerating to the high teens after timing-related softness in Q3.
Mentioned: AMZN