Business
Amazon misses Q3 revenue and profit targets as AWS sales surge 39%
October 29, 2026 at 10:59 PM · Updated 17m ago
Coverage
4 reports · over 2 hours
TETechCrunch
Andy Jassy says Prime Video is on track to earn ‘tens of billions of dollars’
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TETechCrunch
AWS will be a $1T business, Jassy says. But first, it will spend big.
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TGThe Guardian
Amazon gives Wall Street mixed financial picture in earnings report
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TETechCrunch
Amazon reported booming cloud revenue but otherwise missed expectations
(opens the publisher’s site)Amazon on Thursday reported third-quarter earnings that missed analyst expectations but showed strong growth in its cloud unit AWS.
- Amazon reported third-quarter net income of $20.69 billion, or $1.89 per share, below the $1.97 analysts expected.
- AWS sales rose 39 percent to $45.98 billion, beating analyst estimates and outpacing the prior quarter's growth.
- Amazon's free cash flow turned negative at $42.4 billion over the trailing twelve months.
- Amazon forecast fourth-quarter net sales between $240 billion and $247 billion, a 12 to 16 percent increase year over year.
- Jassy said AWS could become a trillion-dollar business with over 40% annual growth through 2028 and 2026 capex of about $220 billion.
- Jassy said Prime Video now has a tens-of-billions revenue run rate and is profitable, citing Reacher, Project Hail Mary and Thursday Night Football.
- Amazon shares fell about 6% in after-hours trading following the release of its third-quarter results.