According to Fortune magazine, Amazon reported strong overall performance for its second quarter of 2026, with its stock rising over 9% in after-hours trading. In key metrics, AWS cloud revenue reached $42.2 billion, a 37% year-over-year increase—the fastest growth rate in nearly 18 quarters—while operating profit hit $16.6 billion, up 64% year-over-year, with margins rising to 39.4%. AWS’s backlog of customer contracts totaled $496 billion. The company’s overall net sales increased 20% year-over-year to $200.6 billion, with operating profit of $27.5 billion. Looking ahead, CEO Andy Jassy stated that Amazon’s 2026 capital expenditure forecast has been raised from $200 billion to $220 billion, primarily driven by rising memory costs; however, even with this increase, capacity is still expected to fall short of demand over the next two years. Jassy also noted that 85% of global IT spending remains on-premises, indicating that the cloud migration wave is far from over, and AWS is capturing the “largest share” of enterprise migration initiatives.
Amazon Q2 2026 Earnings Beat Expectations, AWS Growth Reaches 18-Quarter High
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Summary
Amazon reported Q2 2026 earnings that exceeded expectations, with AWS revenue reaching $42.2 billion, a 37% year-over-year increase. The daily market report shows AWS operating profit rose 64% to $16.6 billion. Total net sales increased 20% to $200.6 billion. CEO Andy Jassy raised 2026 capital spending to $220 billion. Altcoins to watch may react to ongoing global cloud migration and rising memory costs.
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