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Amazon (AMZN) Reports Q2 Earnings: What Key Metrics Have to Say

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For the quarter ended June 2026, Amazon (AMZN - Free Report) reported revenue of $200.61 billion, up 19.6% over the same period last year. EPS came in at $1.88, compared to $1.68 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $197.11 billion, representing a surprise of +1.77%. The company delivered an EPS surprise of +2.73%, with the consensus EPS estimate being $1.83.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Amazon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Y/Y net sales growth - AWS: 37% compared to the 32% average estimate based on six analysts.
  • Third-party seller services Y/Y Change: 16% versus 14.2% estimated by five analysts on average.
  • Subscription services Y/Y Change: 12% compared to the 12.9% average estimate based on five analysts.
  • Advertising services Y/Y Change: 26% versus 22.8% estimated by five analysts on average.
  • Net Sales- AWS: $42.23 billion compared to the $40.63 billion average estimate based on nine analysts. The reported number represents a change of +36.8% year over year.
  • Net Sales- Subscription services: $13.73 billion versus the six-analyst average estimate of $13.78 billion. The reported number represents a year-over-year change of +12.5%.
  • Net Sales- Online stores: $70.43 billion compared to the $69.57 billion average estimate based on six analysts. The reported number represents a change of +14.6% year over year.
  • Net Sales- Physical stores: $5.79 billion versus the six-analyst average estimate of $5.86 billion. The reported number represents a year-over-year change of +3.6%.
  • Net Sales- International: $42.2 billion compared to the $42.58 billion average estimate based on six analysts. The reported number represents a change of +14.8% year over year.
  • Net Sales- Third-party seller services: $46.78 billion compared to the $46.06 billion average estimate based on six analysts. The reported number represents a change of +15.9% year over year.
  • Net Sales- Advertising services: $19.81 billion compared to the $19.27 billion average estimate based on six analysts. The reported number represents a change of +26.2% year over year.
  • Net Sales- North America: $116.18 billion compared to the $113.94 billion average estimate based on six analysts. The reported number represents a change of +16.1% year over year.

View all Key Company Metrics for Amazon here>>>

Shares of Amazon have returned -6.2% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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