Slide 1: Q1 2026 Financial Results Conference Call Slides
Q1 2026 Financial Results Conference Call Slides
Slide 2: This presentation may contain forward-looking statements which are inherently difficult to predict. Actual results
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 MM $400,000 Net Sales (MM) Up 17% Y/Y; Up 15% F/X Adjusted (1) $37,587 21% $104,143 $39,789 57% $200,000 $181,519 22% $155,667 North America International AWS $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (1) Information throughout this presentation regarding the effect of foreign exchange ra
Slide 4: Net Sales – TTM
Net Sales – TTM (1) MM $1,200,000 Net Sales - TTM (MM) Up 14% Y/Y; Up 13% F/X Adjusted $137,045 18% $742,776 $650,313 $168,170 $437,561 $600,000 23% 59% North America International AWS $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (1) Trailing twelve-month period. 4
Slide 5: Operating Income
Operating Income MM $40,000 Up 30% Y/Y $23,852 $20,000 $18,405 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 5
Slide 6: Operating Income – TTM
Operating Income – TTM MM $120,000 Up 19% Y/Y $85,422 $71,691 $60,000 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 6
Slide 7: Net Income
Net Income (1) MM $40,000 Up 77% Y/Y $30,255 $20,000 $17,127 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (1) Q1 2026 net income includes pre-tax gains of $16.8 billion included in non-operating income from our investments in Anthropic. 7
Slide 8: Net Income – TTM
Net Income – TTM MM $120,000 Up 38% Y/Y $90,798 $65,944 $60,000 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 8
Slide 9: Segment Results – North America
Segment Results – North America MM Net Sales MM Operating Income $200,000 $20,000 Up 12% Y/Y [Down 31%] Up 42% Y/Y; Y/Y [Down 32%] F/X Adjusted $104,143 $100,000 $92,887 $10,000 $8,267 $5,841 $0 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 TTM Net Sales $437.6B;
Slide 10: Segment Results – International
Segment Results – International MM Net Sales MM Operating Income $80,000 $2,500 Up 19% Y/Y; Up 40% Y/Y; Up 11% F/X Adjusted Up 6% F/X Adjusted $1,424 $39,789 $40,000 $1,250 $33,513 $1,017 $0 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 TTM Net Sales $168.2B; TTM
Slide 11: Segment Results – AWS
Segment Results – AWS MM Net Sales MM Operating Income $60,000 $30,000 Up 28% Y/Y Up 23% Y/Y; Up 26% F/X Adjusted $37,587 $29,267 $14,161 $30,000 $15,000 $11,547 $0 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 TTM Net Sales $137.0B; TTM Operating Income $48.2B 1
Slide 12: Free Cash Flow – TTM
Free Cash Flow – TTM (1) MM $60,000 Up 101% Y/Y Down 95% Y/Y (2) $30,000 $25,925 $1,232 $0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 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 and
Slide 13: Shares
Shares MM 16,000 10,876 10,949 263 195 8,000 10,613 10,754 0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 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 MM Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Operating Cash Flow $113,903 $121,137 $130,691 $139,514 $148,531 Purchases of property and equipment, net of proceeds from (87,978) (102,953) (115,903) (128,320) (147,299) sales and incentives Free Cash Flow $25,925 $18,1