Slide 1: Q2 2026 Financial Results
Q2 2026 Financial Results Conference Call Slides
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements which are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, among others, fluctuations in foreign exchange rates and energy prices, changes in global economic conditions,
Slide 3: Net Sales
Net Sales Billions $400 Net Sales (B) Up 20% Y/Y (1) $42.2 21% $116.2 $200.6 $42.2 58% $200 21% $167.7 North America International AWS $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 (1) Information throughout this presentation regarding the effect of foreign exchange rates, versus the U.S. Dollar, on ou
Slide 4: Net Sales – TTM
Net Sales – TTM (1) Billions $1,200 Net Sales - TTM (B) Up 16% Y/Y; $148.4 Up 15% F/X Adjusted 19% $775.7 $670.0 $453.7 $173.6 $600 22% 59% North America International AWS $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income Billions $40 Up 43% Y/Y; Up 44% F/X Adjusted $27.5 $20 $19.2 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 5
Slide 6: Operating Income – TTM
Operating Income – TTM Billions $120 Up 23% Y/Y $93.7 $76.2 $60 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 6
Slide 7: Net Income
Net Income (1) Billions $80 Up 245% Y/Y $62.6 $40 $18.2 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 (1) Q2 2026 net income includes non-operating pre-tax other income of $53.4 billion, primarily from our investments in Anthropic. 7
Slide 8: Net Income – TTM
Net Income – TTM Billions $160 Up 92% Y/Y $135.3 $80 $70.6 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 8
Slide 9: Segment Results – North America
Segment Results – North America Billions Net Sales Billions Operating Income $200 $20 Up 16% Y/Y [Down 31%] Up 21% Y/YY/Y; [Down 32%] F/X Adjusted $116.2 $100.1 $100 $10 $9.1 $7.5 $0 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TTM Net Sales $453.7B; TTM Operati
Slide 10: Segment Results – International
Segment Results – International Billions Net Sales Billions Operating Income $80 $4 Up 15% Y/Y; Up 15% Y/Y Up 18% F/X Adjusted $42.2 $40 $36.8 $2 $1.7 $1.5 $0 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TTM Net Sales $173.6B; TTM Operating Income $5.4B 10
Slide 11: Segment Results – AWS
Segment Results – AWS Billions Net Sales Billions Operating Income $60 $30 Up 37% Y/Y Up 64% Y/Y $42.2 $16.6 $30.9 $30 $15 $10.2 $0 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TTM Net Sales $148.4B; TTM Operating Income $54.7B 11
Slide 12: Free Cash Flow – TTM
Free Cash Flow – TTM (1) Billions $30 Down 142% Y/Y Up 101% Y/Y(2) $18.2 $15 $0 $(7.6) $(15) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Long-Term Goal – Optimize Free Cash Flows (1) Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales a
Slide 13: Shares
Shares Millions 16,000 10,952 11,027 292 244 8,000 10,660 10,783 0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Common Shares Outstanding Stock-Based Awards Outstanding Long-Term Goal – Efficiently Managing Dilution 13
Slide 14: Appendix
amazon Appendix
Slide 15: Free Cash Flow Reconciliation – TTM
Free Cash Flow Reconciliation – TTM Billions Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Operating Cash Flow $121.1 $130.7 $139.5 $148.5 $161.4 Purchases of property and equipment, net of proceeds from (102.9) (115.9) (128.3) (147.3) (169.0) sales and incentives Free Cash Flow $18.2 $14.8 $11.2 $1.2 $(7