AWS operating income up to $16.6B in Q2 2026, a 39.4% margin

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AWS operating income reached $16.6 billion in the second quarter of 2026, up from $10.2 billion a year earlier, on sales of $42.2 billion. That is a 39.4% operating margin, and AWS's operating income was larger than North America and International combined in the quarter. The margin is central to the debate over AI capex returns.

AWS operating income $16.6B vs $10.2B, up about 63%
AWS operating margin 39.4% on $42.2B sales
Total operating income $27.5B vs $19.2B; North America $9.1B, International $1.7B

AMZN around the story · hourly24 h reaction ▲ 13.73%

Moves this explains

AMZN+12.18%Jul 29 · Jumped 12.2% around the Q2 2026 report, which showed AWS sales up 37% and raised the 2026 capex plan to about $220B. Shares were reported up roughly 7-9% after hours that evening.

Source

SEC Form 8-K Exhibit 99.1 (Amazon earnings release)

Jul 30, 2026

Read the original ↗

SEC filing 8-K · accession 0001018724-26-000024 · sec.gov ↗