Sales across three businesses
Amazon reported $200.6 billion in net sales for the quarter ended June 30, 2026, a 20% increase from the same quarter a year earlier. Its July 30 release separated the results into North America, International and Amazon Web Services, making clear that the consolidated company combines consumer commerce with a large cloud business.
North America sales were $116.2 billion, International sales were $42.2 billion and AWS sales were $42.2 billion. Although the latter two rounded totals matched, they describe very different activities and economics. The geography-based retail segments and cloud segment should not be treated as interchangeable businesses.
Cloud growth and operating income
AWS sales increased 37% year over year, according to the company. AWS operating income reached $16.6 billion, compared with $10.2 billion a year earlier. Amazon’s total operating income was $27.5 billion, up from $19.2 billion. These figures place cloud operations in context without assuming that every dollar of cloud sales produces the same profit.
Operating income reflects the costs assigned to the company’s operations and excludes certain items below that line. Comparisons are affected by changes in revenue, spending and business mix. The reported segment figures are useful for identifying where earnings came from, but they do not reveal the profitability of every individual service or customer.
Why net income needs context
Amazon reported $62.6 billion in quarterly net income. The company said the quarter included $53.4 billion of non-operating pre-tax other income, primarily from its investments in Anthropic. That item matters when interpreting the bottom line: it is not simply operating profit from selling goods or cloud services.
A reader comparing the quarter with an earlier period should follow the income statement from sales through operating income to net income, rather than equating an investment-related gain with a recurring operating result. The release provides financial statements and notes that allow the figures to be checked in context.
Cash flow and capital spending
Amazon reported $161.4 billion in operating cash flow for the trailing twelve months through June 30, while free cash flow was an outflow of $7.6 billion over that period. The company attributed the decline in free cash flow primarily to increased property and equipment purchases, principally reflecting investments in artificial intelligence.
The trailing twelve-month cash-flow period differs from the three-month income statement period. Spending on infrastructure can support future services, but its eventual returns depend on utilization, pricing, costs and demand. The report records spending and results; it does not establish what those investments will ultimately earn.
A closer look at the time periods
The quarter’s sales and operating income refer to three months, whereas the cash-flow measures quoted in the release cover the preceding twelve months. Comparing them directly without adjusting for that difference could give a misleading impression of the relationship between cash generation and spending. Amazon’s release reports both the consolidated totals and the segment breakdowns, so readers can trace the difference between a whole-company measure and one business line. The sales growth percentages compare the same quarter in consecutive years; the company also provides a comparison excluding the effect of exchange-rate movements. Those measures answer related but distinct questions. They do not, on their own, establish how much infrastructure capacity will be used or how profitable future investments will become. Subsequent accounts can show how spending and cash generation develop over time.
Key points in the report
- Quarterly sales rose 20% to $200.6 billion.
- AWS sales rose 37% to $42.2 billion.
- Net income included substantial non-operating income.
Sources and scope
Read the Amazon second-quarter results and the Amazon investor relations for the underlying figures and definitions. This article describes the specified reporting period; subsequent releases may change the picture.