Amazon is set to report third-quarter 2026 results on October 29, with AWS likely the central catalyst even as heavy capital spending may weigh on near-term margins. Management guided to third-quarter net sales of $197-$202 billion and operating income of $22.5-$26.5 billion, with an approximately 80-basis-point foreign-exchange headwind. The Zacks Consensus Estimate puts AWS revenue at $45.4 billion, up 37.5% year over year, after 37% growth to $42.2 billion in the second quarter, supported by a $496 billion backlog. Based on Synergy Research Group data, Amazon held 28% of worldwide cloud market share in the second quarter, versus 20% for Microsoft and 15% for Alphabet, which are steadily narrowing the gap. Third-quarter partnerships, including an expanded NVIDIA deal for two million additional GPUs in 2027-2028, are likely to shape AWS's positioning.
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Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/27/2026 | 253.10 |
| Change that session | +1.61% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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