| AMZN |
Report |
AWS Revenue |
BEAT |
pred ~$41.0B vs. cons $40.5B |
MEDIUM |
| AMZN |
Report |
Total Net Sales |
BEAT |
pred ~$198.0B vs. cons $196.5B |
MEDIUM |
| AMZN |
Report |
Operating Income |
BEAT |
pred ~$23.5B vs. cons $22.3B |
MEDIUM |
| AMZN |
Guide |
Q3 2026 Revenue Guidance |
BETTER |
guide ~$207B vs. cons $203.5B (Q3 2026) |
MEDIUM |
| AMZN |
Guide |
FY2026 Total Capex Guidance |
LOWER |
guide ~$212B vs. cons $205B (FY2026) — raise viewed as bearish signal despite higher absolute number |
MEDIUM |
| AMZN |
Guide |
AWS Operating Margin Outlook |
LOWER |
guide/implied ~33.0% vs. cons 34.0% (Q3 2026) on Trainium ramp and Leo cost drag |
LOW |
| AMZN |
Return |
Day-1 residual (stock − beta × S&P 500) |
-3.0% |
— |
MEDIUM |
| AMZN |
Return |
5-day cumulative residual |
-5.5% (FOLLOW-THROUGH) |
Even with an AWS/revenue beat, a capex guide raise (following GOOGL/META precedent this season) forces sell-side to push out FCF breakeven and trim FY27 margin/EPS estimates once models are updated over the following days, extending the initial negative reaction rather than reversing it; the 'AI capex fatigue' narrative already hit the whole hyperscaler cohort and Amazon's own bond-funded buildout keeps scrutiny elevated, so estimate revisions likely drift lower through the week before any stabilization. |
MEDIUM |