Amazon's third-quarter 2026 results showed strong momentum in cloud computing, with Amazon Web Services (AWS) revenue climbing 39% year over year to $45.98 billion. The cloud division also reported operating income of $17.8 billion, up from $11.4 billion a year earlier.
Across the company, net sales rose 12% to $201.9 billion, while diluted earnings per share came in at $1.89. Both figures were below analyst expectations cited in the report.
AI investment shapes spending plans
Amazon said its trailing 12-month free cash flow was negative $42.4 billion, compared with positive $14.8 billion for the year ending September 30, 2025. The company attributed much of its increased spending to investments in artificial intelligence and reiterated its expectation of about $220 billion in cash capital expenditures for 2026.
For the fourth quarter, Amazon forecast net sales of $240 billion to $247 billion. Its spending plans and AWS growth will be key indicators of how investments in AI infrastructure may shape the company's next phase of expansion.
