Amazon Soars in Q2 as AWS Revenue Hits $169 Billion Run Rate

Amazon's Q2 2026 earnings call revealed significant growth across its cloud and retail segments. The company reported revenue of $200.6 billion, a 20% increase from the previous year, driven by acceleration in AWS and steady demand in Advertising.

The operating income reached $27.5 billion, up 43% year over year, with a notable benefit from tariff refunds and energy derivative accounting gains.

Amazon Web Services (AWS) revenue grew 36.7% year over year to $42.2 billion, reaching an annualized revenue run rate of $169 billion.

AWS operating income stood at $16.6 billion, with a margin of 39.4%, attributed to disciplined efficiency gains and server capacity optimization.