Amazon.com, Inc. has announced financial results for its first quarter ended March 31, 2026.
Net sales increased 17 per cent to $181.5 billion in the first quarter, compared with $155.7 billion in first quarter 2025. Excluding the $2.9 billion favourable impact from year-on-year changes in foreign exchange rates throughout the quarter, net sales increased 15 per cent compared with first quarter 2025.
- North America segment sales increased 12 per cent year-on-year to $104.1 billion.
- International segment sales increased 19 per cent year-on-year to $39.8 billion, or increased 11 per cent excluding changes in foreign exchange rates.
- AWS segment sales increased 28 per cent year-on-year to $37.6 billion.
Operating income increased to $23.9 billion in the first quarter, compared with $18.4 billion in first quarter 2025.
- North America segment operating income was $8.3 billion, compared with $5.8 billion in first quarter 2025.
- International segment operating income was $1.4 billion, compared with $1.0 billion in first quarter 2025.
- AWS segment operating income was $14.2 billion, compared with $11.5 billion in first quarter 2025.
Net income increased to $30.3 billion in the first quarter, or $2.78 per diluted share, compared with $17.1 billion, or $1.59 per diluted share, in first quarter 2025. First quarter 2026 net income includes pre-tax gains of $16.8 billion included in non-operating income from investments in Anthropic.
Operating cash flow increased 30 per cent to $148.5 billion for the trailing twelve months, compared with $113.9 billion for the trailing twelve months ended March 31, 2025.
Free cash flow decreased to $1.2 billion for the trailing twelve months, driven primarily by a year-on-year increase of $59.3 billion in purchases of property and equipment, net of proceeds from sales and incentives. This increase primarily reflects investments in artificial intelligence. This compares to free cash flow of $25.9 billion for the trailing twelve months ended March 31, 2025.
“We’re making customers’ lives easier and better every day across all our businesses, and their response is driving significant growth,” said Andy Jassy, President and CEO, Amazon. “AWS is growing 28 per cent (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-on-year), advertising grew to over $70 billion in trailing twelve-month revenue, and unit growth in our Stores reached 15 per cent (the highest since the tail end of Covid lockdowns).
“We also hit exciting milestones with delivery speed (more than one billion items same-day or overnight in 2026 and counting), Project Hail Mary (nearly $615 million at the box office to date and the second most successful non-sequel, non-franchise opening of recent memory), and Amazon Leo continues to resonate with prospective customers, with Delta Air Lines the latest to sign on. We’re in the middle of some of the biggest inflections of our lifetime, we’re well positioned to lead, and I’m very optimistic about what’s ahead for our customers and Amazon.”
Financial Guidance
The following forward-looking statements reflect Amazon’s expectations as of April 29, 2026, and are subject to substantial uncertainty.
Second Quarter 2026 Guidance
- Net sales are expected to be between $194.0 billion and $199.0 billion, or to grow between 16 per cent and 19 per cent compared with second quarter 2025. This guidance anticipates an unfavourable impact of approximately 10 basis points from foreign exchange rates.
- Operating income is expected to be between $20.0 billion and $24.0 billion, compared with $19.2 billion in second quarter 2025.
- This guidance assumes that Prime Day occurs in second quarter 2026.
- This guidance assumes, among other things, that no additional business acquisitions, restructurings or legal settlements are concluded.
Forward-Looking Statements
These forward-looking statements are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including fluctuations in foreign exchange rates and energy prices, changes in global economic and geopolitical conditions, tariff and trade policies, resource and supply volatility, customer demand and spending, inflation, interest rates, labour market constraints, and the rate of growth of online commerce, cloud services and emerging technologies.
More information about factors that could affect Amazon’s financial results is included in filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.
Link to the entire report here: https://amazon2022tf.q4web.com/news/news-details/2026/Amazon-com-Announces-First-Quarter-Results/default.aspx
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