AMZN
FY2026 Q1 · Calendar Q2 2026
Amazon.com, Inc.
Amazon delivered a broad-based Q1 2026 beat: revenue of $181.5B (+2.4% vs consensus) and EPS of $2.78 (+70.6% vs consensus). AWS accelerated to 28% YoY growth, the fastest in 15 quarters, powered by AI services and Trainium and Graviton custom silicon, which has attracted over $225B in multi-year revenue commitments. Retail grew 15% in units with grocery expanding to the second-largest U.S. grocer, and advertising rose 22% to $17.2B. The Globalstar acquisition and advancing LEO satellite business add a new growth vector targeting commercial launch in Q3. Despite the strong print, the market reaction was muted: a -0.23% abnormal move against a +0.99% SPY benchmark, though the stock drifted +2.11% higher in subsequent sessions. Guidance was maintained and capex is increasing to fund AI and data-center expansion, which investors will monitor for margin impact.
EPS surprise+70.6%
Market move+0.8%
