Amazon Accelerates on AWS Growth, While AI Investment Pressures Cash Flow ☁️ Amazon reported Q2 2026 revenue of $200.6 billion, up 20% year over year and above market expectations. Operating income rose 43% to $27.5 billion. 🚀 AWS was the main highlight, with revenue increasing 37% to $42.2 billion, its fastest growth in 18 quarters. The result indicates that cloud demand and AI infrastructure continue to support Amazon’s expansion. 🤖 Net income reached $62.6 billion, equivalent to EPS of $5.75, although much of the increase came from a $53.4 billion valuation gain related to Anthropic. The reported EPS therefore does not fully reflect the company’s core operating performance. 💸 Trailing 12-month free cash flow fell to negative $7.6 billion as Amazon increased spending on AI and data centers. Despite this pressure, the shares rose in after-hours trading as investors focused on AWS growth and the outlook for AI-related revenue. #Amazon