Amazon's third-quarter revenue rose 12.1% to $201.94 billion, with AWS revenue up 39.3%; net income fell 2.4%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Amazon took in $201.94 billion in revenue, the money from what it sold, in the quarter from Jul 1 to Sep 30, 2026, 12.1% more than the $180.17 billion of the same quarter a year earlier. Its Form 10-Q, the quarterly report US-listed companies file with the SEC, was filed on Oct 30, 2026 and labels this total net sales. Operating income, what is left after the costs of running the business, rose 61.2% to $28.08 billion from $17.42 billion. Net income, what is left after interest, tax and everything else, fell 2.4% to $20.69 billion from $21.19 billion.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

The table below splits the quarter's revenue by product and service, and online stores was the largest line at $68.47 billion, 33.9% of the filing's total revenue, up 1.6%. AWS (Amazon Web Services) grew fastest of the lines: its revenue rose 39.3% to $45.98 billion.13^,14^,15^,16^,17^,18

The notes say online stores includes product sales and digital media content where Amazon records revenue gross.19

The notes describe the AWS segment as amounts earned from global sales of compute, storage, database and other services. The management discussion says AWS sales growth primarily reflects increased customer usage, partially offset by pricing changes primarily driven by long-term customer contracts.20^,21

Advertising services, which the notes say includes sales of advertising through programs such as sponsored ads, display and video advertising, rose 10.9% to $19.64 billion. The guidance section says advertising revenue grew 12% year over year excluding exchange-rate changes in the third quarter, impacted, it says, by timing anomalies primarily related to Prime Day and a couple of other timing factors.22^,23^,24^,25

Amazon's annual report names three segments, parts of the company it reports on its own: North America, International and Amazon Web Services. North America, which the notes describe as primarily retail sales and advertising and subscription services through online and physical stores focused on North America, brought in $112.85 billion, up 6.2%. International, described in the same terms through internationally focused online stores, brought in $43.11 billion, up 5.4%, and the filing says exchange-rate changes reduced its net sales by $927 million in the quarter. For both segments, the management discussion says sales growth primarily reflects increased unit sales, including sales by third-party sellers, advertising sales and subscription services.18^,26^,27^,28^,29^,30^,31^,32^,33

In the quarter, 13.9 cents of each dollar of revenue was left as operating income and 10.2 cents as net income. A year earlier, 9.7 cents of each dollar was left as operating income and 11.8 cents as net income. AWS earned $17.77 billion of the consolidated $28.08 billion of operating income, up from $11.43 billion a year earlier, and the filing says the rise is primarily due to increased sales, partially offset by spending on technology infrastructure primarily driven by additional investments to support AWS business growth.34^,35^,36^,37^,38^,7^,39

Below operating income, the segment note shows non-operating items, which sit outside running the business: income of $10.75 billion a year earlier and an expense of $1.21 billion this quarter. Amazon's earnings release of Oct 29, 2026 says the fall in net income was driven primarily by the year-earlier quarter's pre-tax gains of $9.5 billion, included in non-operating income, from its investments in Anthropic. The management discussion separately reports other income (expense), net at $10.2 billion a year earlier and a loss of $703 million this quarter, and says the year-earlier gain came primarily from upward adjustments for observable price changes in its nonvoting preferred stock in Anthropic and from reclassifying gains on the portions of its convertible notes in Anthropic that were converted to that stock. Interest expense rose to $1.7 billion from $538 million, and the filing says it was primarily related to debt, including new issuances of Notes, and finance leases.40^,41^,42^,43^,44^,45

Cash capital expenditures were $75.9 billion in the third quarter against $34.2 billion a year earlier, which the filing says primarily reflect investments in technology infrastructure, the majority of which is to support AWS business growth, and in additional capacity for its fulfillment network. In the nine months to Sep 30, 2026, Amazon also invested $50.0 billion in OpenAI's Series C Preferred Stock, $21.3 billion of it in the third quarter, and $10.0 billion in Anthropic nonvoting preferred stock.46^,47^,48

Amazon said on Oct 29, 2026, in its earnings release, that it expects fourth-quarter net sales of $240.0 billion to $247.0 billion, growth of 12% to 16% on the fourth quarter of 2025, and operating income of $28.5 billion to $33.5 billion, against $25.0 billion a year earlier. It expects advertising revenue to grow in the high teens year over year in the fourth quarter and cash capital expenditures of about $220 billion for 2026.41^,49^,50^,25^,51

Our records hold the filing's management discussion and its 8 numbered notes but not its other exhibits, and cannot tell whether its year-earlier figures were restated.52^,53