Filing Flows › Amazon.com (AMZN) › Q2 2026 › vs Q1 2026
Amazon.com (AMZN) Q2 2026 vs Q1 2026 (quarter over quarter)
Amazon.com's revenue rose $19.1B (+11%) from $181.5B in Q1 2026 to $200.6B in Q2 2026. The biggest changes: Net service sales +$12.7B (+12%); Online stores +$6.2B (+10%); Other +$184M (+11%). Operating margin 13.7% against 13.1% (+0.5 pts).
Amazon.com, Q2 2026: revenue $200.6B (+20% year over year), operating margin 13.7%, net earnings $62.6B, operating cash flow $45.4B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 13.7% | 13.1% | +0.5 pts |
| Net margin | 31.2% | 16.7% | +14.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Third-party seller services | $46.8B | $41.6B | $5.2B | +13% |
| AWS | $42.2B | $37.6B | $4.6B | +12% |
| Advertising services | $19.8B | $17.2B | $2.6B | +15% |
| Subscription services | $13.7B | $13.4B | $303M | +2% |
| Net service sales | $122.6B | $109.8B | $12.7B | +12% |
| Online stores | $70.4B | $64.3B | $6.2B | +10% |
| Physical stores | $5.8B | $5.8B | $9.0M | +0.2% |
| Other | $1.8B | $1.6B | $184M | +11% |
| Revenue | $200.6B | $181.5B | $19.1B | +11% |
| Other income, net | $53.4B | $16.0B | $37.4B | +234% |
| Operating profit | $27.5B | $23.9B | $3.6B | +15% |
| Costs & expenses | $173.1B | $157.7B | $15.5B | +10% |
| Pre-tax earnings | $80.9B | $39.8B | $41.0B | +103% |
| Cost of revenue | $95.8B | $87.5B | $8.3B | +10% |
| General & admin | $2.8B | $2.6B | $201M | +8% |
| Other operating costs | $74.6B | $67.6B | $7.0B | +10% |
| Net earnings | $62.6B | $30.3B | $32.4B | +107% |
| Income tax | $18.2B | $9.6B | $8.6B | +90% |
| Depreciation & amortization | $20.0B | $18.9B | $1.0B | +6% |
| Share-based compensation | $6.0B | $4.0B | $2.0B | +50% |
| Working capital & other | $43.3B | $27.2B | $16.1B | +59% |
| Operating cash flow | $45.4B | $26.0B | $19.4B | +74% |
| Capital expenditures | $54.2B | $44.2B | $10.0B | +23% |
| Negative free cash flow (OCF − capex) | $8.8B | $18.2B | −$9.3B | -51% |
Questions
How much did Amazon.com's revenue grow quarter over quarter in Q2 2026?
Amazon.com's revenue rose $19.1B (+11%) from $181.5B in Q1 2026 to $200.6B in Q2 2026.
What drove Amazon.com's revenue change in Q2 2026?
Net service sales +$12.7B (+12%); Online stores +$6.2B (+10%); Other +$184M (+11%).