SEATTLE — Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its third quarter ended September 30, 2026.
Net sales increased 12% to $201.9 billion in the third quarter, compared with $180.2 billion in the third quarter of 2025. Excluding the $0.9 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 13% compared with third quarter 2025. As a reminder, Prime Day timing shifted this year, with the event occurring in Q2 for most large countries. In 2025, Prime Day occurred entirely in Q3. Excluding this shift, third quarter year-over-year growth would have been approximately 400 basis points higher.
- North America segment sales increased 6% year over year to $112.9 billion.
- International segment sales increased 5% year over year to $43.1 billion, or increased 8% excluding changes in foreign exchange rates.
- AWS segment sales increased 39% year over year to $46.0 billion.
Operating income increased to $28.1 billion in the third quarter, compared with $17.4 billion in third quarter 2025.
- North America segment operating income was $8.7 billion, compared with $4.8 billion in third quarter 2025.
- International segment operating income was $1.6 billion, compared with $1.2 billion in third quarter 2025.
- AWS segment operating income was $17.8 billion, compared with $11.4 billion in third quarter 2025.
Net income decreased to $20.7 billion in the third quarter, or $1.89 per diluted share, compared with $21.2 billion, or $1.95 per diluted share, in third quarter 2025. This decrease is driven primarily by pre-tax gains of $9.5 billion in third quarter 2025 included in non-operating income (expense) from our investments in Anthropic.
Operating cash flow increased 29% to $168.3 billion for the trailing twelve months, compared with $130.7 billion for the trailing twelve months ended September 30, 2025.
Free cash flow decreased to an outflow of $42.4 billion for the trailing twelve months, driven primarily by a year-over-year increase of $94.8 billion in purchases of property and equipment, net of proceeds from sales and incentives. This increase primarily reflects investments in artificial intelligence. This compares to free cash flow inflow of $14.8 billion for the trailing twelve months ended September 30, 2025.
“Our AWS investment in functionality and infrastructure is working, with over 39% year-over-year revenue growth in Q3 ($184 billion revenue run rate) and projected revenue growth rates of over 40% both in 2027 and in 2028,” said Andy Jassy, President and CEO, Amazon. “Our broader selection and speedier delivery are helping us capture more retail market segment share with improving margins, and our newer businesses, ranging from Grocery to Pharmacy to Amazon Leo to Zoox are progressing encouragingly. There has never been a trillion-dollar revenue business, and we may have two of them in the next 5-10 years.”
Read the full press release here.
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