Earnings call analysis

Amazon.com (AMZN) Q3 2026 Earnings Call: Guidance and Outlook

The company provided guidance for the fourth quarter of 2026, anticipating continued growth in sales and operating income.

About Amazon.com. com, Inc. operates a vast global retail enterprise, distributing consumer goods and subscription services through both its extensive online platforms and a network of physical stores across North America and internationally. Its operations are structured into three primary segments: North America, International, and Amazon Web Services (AWS).

Call date

Oct 29, 2026

Sentiment score

+45 Positive

Management tone, -100 to +100

Sentiment change

vs Q2 2026 call

Sector

Consumer Discretionary, Broadline Retail

Next report

Feb 4, 2027

View calendar

Quarterly guidance

Net Sales: $240 billion to $247 billion
Operating Income: $28.5 billion to $33.5 billion

Annual guidance

Annual guidance: No annual guidance was given.

Outlook

AWS Growth: Expects AWS to grow north of 40% in each of 2027 and 2028.
CapEx: Expects 2026 cash CapEx of approximately $220 billion, with meaningfully more in 2027.
Retail Shift: Expects the majority of retail to eventually flip from physical stores to e-commerce.
Advertising: Expects year-over-year growth to return to the high teens in Q4.
Robotics: Plans to continue deploying robotics to improve productivity and safety in fulfillment centers.

Sources and method

Dombey's summary of the Amazon.com Q3 2026 earnings call held Oct 29, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.

Updated Nov 8, 2026. All earnings call analyses

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