AWS Revenue Jumps 39% to $46 Billion in Amazon's Third Quarter

Oct 29, 2026
AWS generated $46 billion in third quarter revenue, up 39% from a year earlier, while Amazon's increased AI infrastructure spending pushed free cash flow into an outflow.

Amazon reported in its third quarter earnings release that AWS revenue rose 39% from a year earlier to $46 billion. AWS operating income increased to $17.8 billion from $11.4 billion.

Amazon's total revenue rose 12% to $201.9 billion, while operating income reached $28.1 billion. Net income fell to $20.7 billion from $21.2 billion, primarily because the prior year included $9.5 billion in gains related to its Anthropic investment.

Free cash flow shifted from a $14.8 billion inflow to a $42.4 billion outflow for the trailing 12 months. Amazon attributed the change mainly to a $94.8 billion increase in property and equipment purchases, reflecting AI investments. The company continues to expect about $220 billion in cash capital expenditures for 2026.

Amazon said spending by Fortune 500 customers on Bedrock grew nearly sevenfold, while Bedrock token volume rose nearly 17 times. Tens of thousands of customers now use Bedrock AgentCore, with twice as many agents deployed during the third quarter as in the previous three quarters combined.

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