Amazon AWS Growth and Heavy AI Investment Coexist
Amazon reported Q3 2026 revenue of $201.94 billion. AWS revenue rose 39% to $45.98 billion and operating income increased 55% to $17.77 billion, exceeding the analyst estimates cited by CNBC. AWS represented about 23% of Amazon’s revenue but roughly 63% of its operating income, according to iThome. Amazon said AI spending drove most of the decline in trailing-12-month free cash flow, which fell to negative $42.4 billion from positive $14.8 billion a year earlier. The company maintained an estimated $220 billion in cash capital expenditures for 2026, primarily for AI and cloud infrastructure.
AWS remained Amazon’s main driver of operating income, while its expanding AI infrastructure investment put pressure on free cash flow. The results highlight the scale of both the cloud business’s profitability and the company’s infrastructure spending.
文/陳曉莉|2026-10-30 發表
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AWS
Amazon周四（10/29）公布2026年第三季財報，營收達2,019.4億美元，年增12%，營業利益280.8億美元，年增61%，營業利益率達13.9%，創下歷史新高。其中，雲端業務Amazon Web Services（AWS）營收比去年同期成長39%，創近5年最快增速，成為推動Amazon獲利成長的主要動力。
Amazon本季淨利為206.9億美元，較去年同期的211.9億美元下滑2%，稀釋後每股盈餘（EPS）為1.89美元，低於去年同期的1.95美元。淨利下滑主要是因為去年同期認列了95億美元的Anthropic投資相關稅前收益，墊高了比較基期。
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