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Amazon

Amazon (AMZN) Q1 2026 Earnings

Reported Apr 29, 2026 at 4:18 PM ET · SEC Source

Q1 26 EPS GAAP

$2.78

BEAT +68.18%

Est. $1.65

Net income includes pre-tax gains of $16.8 billion in non-operating income from investments in Anthropic.

Q1 26 Revenue

$181.52B

BEAT +2.46%

Est. $177.17B

vs S&P Since Q1 26

-1.9%

TRAILING MARKET

AMZN +5.7% vs S&P +7.6%

Market Reaction

Did AMZN Beat Earnings? Q1 2026 Results

Amazon delivered a blowout first quarter, posting earnings of $2.78 per share against a consensus estimate of $1.73, a beat of 60.69% that marks the fifth consecutive quarter the company has cleared Wall Street's EPS bar. Revenue climbed 16.6% year-o… Read more Amazon delivered a blowout first quarter, posting earnings of $2.78 per share against a consensus estimate of $1.73, a beat of 60.69% that marks the fifth consecutive quarter the company has cleared Wall Street's EPS bar. Revenue climbed 16.6% year-over-year to $181.52 billion, with broad strength across all three operating segments driving the outperformance. The headline profit figure of $30.25 billion was substantially lifted by $16.80 billion in pre-tax investment gains tied to Anthropic, though even stripping that out, operating income rose 30% to $23.85 billion with margins expanding to 13.1%. The clearest engine of momentum was AWS, which posted 28% revenue growth, its fastest pace in 15 quarters, reaching $37.59 billion with a 37.7% operating margin, as landmark compute commitments from OpenAI, Anthropic, and Meta underscored surging enterprise demand for AI infrastructure. Looking ahead, Amazon guided Q2 net sales of $194.00 billion to $199.00 billion, representing 16% to 19% growth, with operating income of $20.00 billion to $24.00 billion, though management flagged tariff uncertainty and recessionary concerns as meaningful headwinds.

Key Takeaways

  • • AWS revenue grew 28%, fastest growth rate in 15 quarters
  • • Advertising services revenue grew 24% YoY to over $70 billion TTM
  • • Unit growth in Stores reached 15%, highest since end of COVID lockdowns
  • • North America operating margin expanded to 7.9% from 6.3% YoY
  • • AWS operating margin expanded to 37.7% from 39.5% YoY
  • • $16.8 billion pre-tax gains from investments in Anthropic boosted net income
  • • Same-Day and next-day delivery of more than 1 billion items in 2026 and counting
  • • International segment operating income grew 40% YoY
24/7 Wall St

AMZN YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

AMZN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 24 Q2 26
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AMZN Revenue by Geography

With YoY comparisons, source: SEC Filings

Q3 24 Q2 26

“We're making customers' lives easier and better every day across all our businesses, and their response is driving significant growth. AWS is growing 28% (our fastest growth in 15 quarters) on a very large base, our chips business topped a $20 billion revenue run rate (growing triple digits year-over-year), Advertising grew to over $70 billion in TTM revenue, and unit growth in our Stores reached 15% (the highest since the tail end of covid lockdowns).”

— Andy Jassy, Q1 2026 Earnings Press Release

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