Amazon Q1 2026 results: strong growth, AI and record pace at AWS

Date of last update: 12.05.2026

Amazon entered 2026 with very strong momentum. The company not only increased sales and operating profit, but also clearly accelerated the growth of AWS and investments related to artificial intelligence. First-quarter results show that Amazon is increasingly building its advantage around AI, cloud infrastructure and automation, while continuing to develop its marketplace and tools for sellers. What exactly is driving Amazon’s growth today, and what do these results mean for brands selling on the platform?

Table of contents:

1. Amazon Q1 2026 results: AWS grows at the fastest pace in 15 quarters

2. What does this mean?

3. FAQ: Amazon Q1 2026 results

You can read this article in 4 minutes.

Amazon Q1 2026 results: AWS grows at the fastest pace in 15 quarters

Amazon ended the first quarter of 2026 with very strong results. Net sales rose by 17% year on year and reached $181.5 billion. Excluding the favourable impact of exchange rates, growth was 15%. This shows that Amazon’s business scale continues to grow, and the momentum is not based solely on currency effects.

AWS was Amazon’s fastest-growing segment

North America remains the largest segment, where sales increased by 12% to $104.1 billion. The International segment generated $39.8 billion in sales, which means growth of 19% year on year, or 11% excluding exchange rate changes. AWS stood out most, however, increasing sales by 28% to $37.6 billion. According to Andy Jassy, this was AWS’s fastest growth in 15 quarters.

AWS accounts for a large part of Amazon’s profitability

Amazon’s operating income rose from $18.4 billion in Q1 2025 to $23.9 billion in Q1 2026. AWS made the largest contribution to this result, generating $14.2 billion in operating profit. By comparison, the North America segment achieved $8.3 billion, and International - $1.4 billion. It is therefore clear that the cloud remains one of the main engines of profitability for the entire group.

At net profit level, Amazon posted an increase to $30.3 billion, compared with $17.1 billion a year earlier. It is worth noting, however, that this figure includes $16.8 billion in pre-tax gains related to the investment in Anthropic. This is important context, because without this item the profit growth would have been lower.

Amazon increases investment in AI and infrastructure

Cash flow also tells a lot. Operating cash flow for the last 12 months increased by 30% to $148.5 billion. At the same time, free cash flow fell to $1.2 billion from $25.9 billion a year earlier. The main reason is the strong increase in capital expenditure, primarily investments in artificial intelligence, data centres and technology infrastructure.

AI is becoming one of AWS’s key development directions

Amazon’s results and statements show that AI is becoming one of the most important investment areas. The company is developing its own Graviton, Trainium and Nitro chips, and the chip business has reached an annual run rate of over $20 billion. Amazon also highlights cooperation with companies such as Anthropic, OpenAI, Meta, Uber and NVIDIA, which strengthens AWS’s position as infrastructure for major AI projects.

What is changing for sellers and brands on Amazon?

For sellers and brands operating on Amazon, changes within the marketplace itself are also important. Amazon is developing faster delivery, expanding its product range, rolling out AI tools in Seller Central and expanding advertising solutions. This means competition on the platform will increasingly be based on data, automation, content quality and speed of response.

Check: Professional Amazon sales management

The forecast for the second quarter is just as striking. Amazon expects net sales in the range of $194-199 billion, which would mean growth of 16-19% year on year. The company also expects operating income in the range of $20-24 billion. The assumptions include Prime Day in the second quarter of 2026.

What does this mean?

Q1 2026 shows Amazon as a company that is simultaneously strengthening its core e-commerce business and shifting the focus of its investment towards AI. AWS is growing faster, advertising exceeds $70 billion in revenue on a TTM basis, and the marketplace continues to develop delivery, seller tools and the shopping experience.

For brands, this means one thing: simply being present on Amazon is not enough. The rising pace of change means the advantage will be built by those who can analyse data faster, manage their catalogue better, use advertising more effectively and adapt their strategy to the platform’s new tools. Amazon is not slowing down. And brands that want to grow with it need to act just as decisively.

FAQ: Amazon Q1 2026 results

1. What were Amazon’s most important results in Q1 2026?

Amazon ended the first quarter of 2026 with net sales of $181.5 billion. That is growth of 17% year on year. Operating income rose to $23.9 billion, and net profit reached $30.3 billion.

2. Which Amazon segment grew the fastest?

AWS showed the strongest momentum. Sales in this segment rose by 28% year on year and reached $37.6 billion. This is one of the clearest signals that Amazon is increasingly building its position around cloud, AI and technology infrastructure.

3. Why did Amazon’s net profit increase so sharply?

Net profit rose to $30.3 billion, but it is important to remember the wider context. The result includes $16.8 billion in pre-tax gains related to the investment in Anthropic. This had a significant impact on the final financial outcome.

4. What does the decline in free cash flow mean?

Free cash flow fell to $1.2 billion, mainly due to higher investment in capital assets. Amazon is sharply increasing spending on data centres, infrastructure and AI-related solutions. This shows that the company is playing the long game, even at the expense of short-term cash.

5. What do Amazon’s results mean for brands and sellers?

For brands present on Amazon, this is a clear signal: competition will increasingly be based on data, automation, advertising and customer service quality. Simply being on the platform is no longer enough. What is needed is a strategy that combines sales, content, logistics and advertising.

6. What are Amazon’s forecasts for Q2 2026?

Amazon forecasts net sales in the second quarter of 2026 at $194-199 billion. That would mean growth of 16-19% year on year. The company also expects operating income between $20 billion and $24 billion.

7. Why is AI so important in Amazon’s results?

AI is now present in almost every area of Amazon’s operations - from AWS, through Trainium and Graviton chips, to Seller Central, advertising and customer service. This is no longer an additional development direction. It is one of the main pillars of the company’s continued growth.