We reported our Q2 2026 financial results today, with $200.6 billion in revenue, up 20% year-over-year, and operating income of $27.5 billion, up 43%. AWS grew 37% to a $169 billion annualized revenue run rate and our chips and AI businesses each surpassed $25 billion annual revenue run rates, growing triple-digit percentages year-over-year. In Stores, Prime membership grew double digits YoY, we once again achieved record delivery speeds for Prime members in the first half of the year, and we added millions of new products to our selection. I'm proud of our teams for delivering this kind of growth at this pace, at this scale, while continuously making the experience better for our customers. https://lnkd.in/gmEvupkj
Brian, At that scale, the 20% revenue growth matters. The 43% operating income growth says something deeper. The machine is getting more efficient while still compounding. That usually comes from years of hard plumbing work finally showing up in the numbers: fulfilment density, infra leverage, chip control, tighter cost discipline. You feel it in the income line long before most people grasp what changed!
The line most people will skim past is operating income up 43% on revenue up 20%. At two hundred billion a quarter, growing profit at more than twice the rate of the top line is the hardest thing in this post by some distance. The chips number is what makes that look durable rather than one good quarter. A twenty five billion run rate on silicon you designed yourself means the margin on AI demand stays inside the building instead of going to a supplier. That reshapes the next few years more than the AWS growth rate does. One thing I'd want to know. How much of that chip run rate is external customers versus internal consumption by AWS itself? Those are two very different businesses wearing the same number.
Impressive results. Beyond the numbers, what stands out is how operational excellence, long-term investment, and continuous customer focus can scale together. Sustainable growth is rarely the result of one great quarter—it's the result of consistently improving the system behind the business.
It's incredible to think where Amazon Business was when I joined in 2017 to where it is today. This highlight in the latest quarterly earnings shows just how far we have come: 🔶 Reached $60 billion in annualized gross sales for Amazon Business and continued to expand selection—adding nearly 30% more items compared to last year, including Same-Day Delivery of fresh groceries for businesses in 2,300+ U.S. cities and towns.
Amazon’s results reveal more than strong growth. They show what happens when AI investment is connected to operational execution and customer value. AWS grew 37%, its fastest pace in 18 quarters, while Amazon increased the number of items delivered the same day or overnight by more than 40%. Net sales rose 20%, and operating income increased 43%. The important connection is that AI is not being treated solely as a technology product. It is strengthening infrastructure, logistics, employee safety, shopping assistance, advertising, and delivery reliability. That is where AI creates measurable business value: when better intelligence reaches the frontline, improves execution, keeps the customer promise, and ultimately protects revenue and customer trust. Amazon is demonstrating that AI strategy and operational strategy can no longer be separated.
Revenue and operating income have clear scoreboards; The Solar Guild's proposed 12-month challenge to AWS asks whether verifiable societal value can be measured--and competed on--with the same rigor.
The chips and AI revenue inflection is striking, but scaling supply chain velocity to match triple-digit growth rates typically creates hidden friction. How are you managing the margin compression that usually follows when demand outpaces logistics optimization?
Brian Olsavsky 43% operating profit growth, on 20% revenue—this is a masterclass in operational leverage at scale. The $25B+ runrate of chips and AI is no longer a side-project, but a core profit engine. The real question: How will the weighting of retail versus cloud shift over the next 5 years, and how will capital allocation change?
The $25B chip and AI run rates may be the most interesting part here. The AI race is no longer only about who has the strongest model. It is also about who can control the economics underneath it - from silicon and infrastructure to the applications customers actually use.
Benefits declining - 2 day guarantee delivery gone - nice short term thinking cutting all benefits to prime members. What moat is there now- taking while giving no extra value. Not sure who thought this was a winning long term formula? It’s why Walmart and others keep gaining market share. Value proposition what is it?