Q1 26 EPS
$2.78
BEAT +60.69%
Est. $1.73
Q1 26 Revenue
$181.52B
vs S&P Since Q1 26
+3.0%
BEATING MARKET
AMZN +3.3% vs S&P +0.3%
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
AMZN Forward Guidance & Outlook
For Q2 2026, Amazon expects net sales between $194.0 billion and $199.0 billion, representing 16% to 19% year-over-year growth, with an anticipated unfavorable FX impact of approximately 10 basis points. Operating income is expected between $20.0 billion and $24.0 billion, compared with $19.2 billion in Q2 2025. Guidance assumes Prime Day occurs in Q2 2026. The company flagged substantial uncertainty from fluctuations in foreign exchange rates and energy prices, changes in global economic and geopolitical conditions, tariff and trade policies, resource and supply volatility including for memory chips, customer demand and spending impacts from recessionary fears, and inflation.
AMZN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
AMZN Revenue by Segment
With YoY comparisons, source: SEC Filings
AMZN Revenue by Geography
With YoY comparisons, source: SEC Filings
“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
AMZN Earnings Trends
AMZN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMZN EPS Trend
Earnings per share: estimate vs actual
AMZN Revenue Trend
Quarterly revenue: estimate vs actual
AMZN Quarterly Results
11 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.73 | $2.78 | +60.69% | $181.52B | — |
| Q4 25 BEAT FY | $1.95 | $1.95 | +0.00% | $213.39B | — |
| FY Full Year | — | $7.17 | — | $716.92B | — |
| Q3 25 BEAT | $1.54 | $1.95 | +26.62% | $180.17B | — |
| Q2 25 BEAT | $1.33 | $1.68 | +26.32% | $167.70B | — |
| Q1 25 BEAT | $1.36 | $1.59 | +16.91% | $155.67B | — |
| Q4 24 BEAT FY | $1.48 | $1.86 | +25.36% | $187.79B | — |
| FY Full Year | — | $5.53 | — | $637.96B | — |
| Q3 24 BEAT | $1.14 | $1.43 | +25.44% | $158.88B | — |
| Q2 24 BEAT | $1.03 | $1.26 | +22.33% | $147.98B | -0.39% |
| Q1 24 BEAT | $0.83 | $0.98 | +18.07% | $143.31B | +0.57% |
| Q4 23 BEAT FY | $0.80 | $1.00 | +25.00% | $169.96B | +2.25% |
| FY Full Year | — | $2.90 | — | $574.79B | — |
| Q3 23 BEAT | $0.55 | $0.94 | +70.91% | $143.08B | +7.26% |