Key facts
- Amazon's AWS revenue grew 39% year-over-year.
- Free cash flow turned negative $42.4 billion for the trailing 12 months.
- Company expects full-year capital expenditures of $220 billion, driven by AI.
Amazon reported its third-quarter earnings on Thursday, October 29, 2026, revealing a mixed financial picture. While the company's cloud computing division, Amazon Web Services (AWS), saw robust growth and exceeded revenue expectations, its overall performance fell short of analyst forecasts for total revenue and earnings per share. Significant investments in artificial intelligence contributed to a substantial negative free cash flow. The company reiterated its full-year capital expenditure forecast, largely driven by AI initiatives.