Earnings review- Amazon (AMZN) Q2 2026
Muffett Investments
Earnings Watch · Stock Analysis Division
Earnings Review
1 August 2026
◆ Consumer Cyclical · Internet Retail
Amazon.com, Inc.
Report Period
Q2 FY2026
Reported: 2026-07-30
Headline
Mixed Results
→ Mixed Results
Key Metrics at a Glance
Revenue Growth
N/A
YoY
Operating Margin
N/A
N/A
Free Cash Flow
-$18.2B
-127.0% YoY
Net Position
Net Debt
-$108.1B
EPS (Diluted)
$12.44
N/A
Financial Metrics — Detailed Breakdown
| Metric | Q2 FY2026 | Q2 FY2025 | YoY Change | Consensus Est. | vs. Estimate |
|---|---|---|---|---|---|
| Total Revenue | N/A | $167.7B | N/A | — | N/A |
| Gross Profit | N/A | $86.9B | N/A | — | N/A |
| Gross Margin | N/A | 51.8% | N/A | — | N/A |
| Operating Income | N/A | $19.2B | N/A | — | N/A |
| Operating Margin | N/A | 11.4% | N/A | — | N/A |
| Net Income | N/A | $18.2B | N/A | — | N/A |
| Net Margin | N/A | 10.8% | N/A | — | N/A |
| Operating Cash Flow | $26.0B | $17.0B | +53.0% | — | N/A |
| Free Cash Flow | -$18.2B | -$8.0B | -127.0% | — | N/A |
| FCF Margin | N/A | -4.8% | N/A | — | N/A |
| Total Debt | $209.9B | $133.2B | +57.5% | — | N/A |
| Cash & Equivalents | $101.8B | $66.2B | +53.8% | — | N/A |
| Net Cash / (Debt) | -$108.1B | -$67.0B | -61.2% | — | N/A |
| EPS (Diluted) | $12.44 | $N/A | N/A | $— | N/A |
⚠ Management Commentary — Signals
- No significant red flags detected in EDGAR filing.
📈 Price Reaction
Pre-Earnings Close
$226.65
2026-07-30
Post-Earnings Price
$235.50
Next trading session
1-Day Move
+3.90%
vs. market
52-Week Range
$196.00 – $278.56
Price data sourced from Yahoo Finance. Reaction shown vs. prior trading session close.
Our Verdict
Cautious
Amazon.com, reported a mixed results quarter, with revenue came in at N/A. Free cash flow came in at -$18.2B. The balance sheet remains under watch given the debt load.
- Free cash flow declined -127.0% YoY — elevated capex or working capital drag.
- Modest positive price reaction of +3.9% — market broadly satisfied but not euphoric.
