Amazon AWS reported Q3 revenue of $45.98 billion, up 39% year over year. It beat analyst expectations of $45.29 billion. Operating income rose 55% to $17.77 billion. AWS now makes up almost 23% of Amazon’s total revenue. Growth in core compute and storage hit the fastest rates in several years. AWS signed new deals with Meta and OpenAI during the quarter. It announced plans to buy more Nvidia GPUs for AI workloads. AWS also acquired data analysis startup DuckLabs. CEO Andy Jassy said AWS could grow over 40% in 2027 and 2028. He projected AWS could become a trillion-dollar revenue business in five to ten years. AWS will make its Trainium chips available outside its cloud in late 2027. Azure’s revenue is now 72% the size of AWS, up from 58% two years ago.
What changed
AWS revenue grew about 37% in Q2 2026.
What it unlocks
Enterprises can now run core and AI workloads on expanded AWS GPU capacity.
- $45.98B AWS revenue, +39% YoY
- $17.77B AWS operating income, +55% YoY
- AWS now 23% of Amazon revenue
- Azure at 72% of AWS size
Sources