Amazon (AMZN) Q2 earnings report 2026
Amazon reported strong Q2 2026 earnings, driven by a 37% growth in its cloud segment and high demand for artificial intelligence. The company increased its capital expenditure forecast to $220 billion to support AI infrastructure and chip development.
Why it matters
Amazon's massive investment in AI infrastructure signals a long-term commitment to dominating the cloud computing market despite rising costs.
Amazon reported surging cloud growth during the second quarter, pointing to strong artificial intelligence demand, and the company boosted its capital spending forecast for the year.
The stock shot up more than 10% in extended trading.
Here's how the company did, compared with estimates from analysts polled by LSEG:
Wall Street was also looking at other key revenue numbers:
Amazon said it expects to spend even more on AI, with capital expenditures projected to hit $220 billion this year, CEO Andy Jassy said on a conference call with investors. In February, the company said capex would hit $200 billion this year, and it held steady on that forecast in April.
Jassy said rising memory prices pushed its capex estimate higher. He suggested Amazon's spending spree isn't likely to abate anytime soon.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in