| AMZN |
Report |
AWS revenue (YoY growth) |
BEAT |
pred ~$41.3B / +29% vs. cons $40.5B / ~28% |
MEDIUM |
| AMZN |
Report |
Consolidated operating income |
BEAT |
pred ~$23.0B vs. cons $21.5B |
MEDIUM |
| AMZN |
Report |
Total net revenue |
BEAT |
pred ~$199.5B vs. cons $196.7B |
MEDIUM |
| AMZN |
Guide |
Q3'26 revenue guidance |
LOWER |
guide ~$206B (midpoint) vs. cons ~$209B (Q3 2026) |
MEDIUM |
| AMZN |
Guide |
Q3'26 operating income guidance |
LOWER |
guide ~$21.5B (midpoint) vs. cons ~$23B (Q3 2026) |
LOW |
| AMZN |
Guide |
FY2026 capex guidance |
LOWER |
guide raised to ~$215B vs. prior/cons ~$205B (FY2026) — higher spend, negative for FCF |
MEDIUM |
| AMZN |
Guide |
AWS operating margin |
UNCHANGED |
guide/pred ~33.5% vs. cons ~33.8% (Q2 2026) |
LOW |
| AMZN |
Return |
Day-1 residual (stock − beta × S&P 500) |
+2.5% |
— |
MEDIUM |
| AMZN |
Return |
5-day cumulative residual |
+0.5% (FADE) |
A clean AWS re-acceleration (~29%) plus an operating-income beat off a Prime-Day-flattered Q2 should spark a relief bounce in a washed-out, low-expectations stock (fwd P/E <18, down ~16% from highs). But the initial pop fades: the Prime Day pull-forward pressures Q3 comps so the Q3 revenue/OI guide screens soft, and a capex hike toward ~$215B (DRAM/AI-driven) reignites the 'prove-the-ROI'/FCF fatigue that panned Alphabet. Out-period math means Street trims Q3 estimates even after the Q2 beat, capping follow-through and pulling the residual back toward flat. |
LOW |