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Q1 2026 Net Sales Estimates
Projected net sales for various Amazon segments in Q1 2026 (in billions USD)
Primary Sources
Amazon earnings preview: All eyes on AWS as investors want AI payoff
All eyes are on AWS ahead of Amazon earnings as Wall Street looks to see AI spending pay off By William Edwards You're currently following this author! Want to unfollow? Unsubscribe via the link in your email. Noah Berger/Getty Images for Amazon Web Services 2026-04-28T18:49:01.760Z Amazon will report Q1 earnings on Wednesday afternoon. Amazon Web Services' Q1 revenue growth will be a key metric to watch. Wall Street consensus is for 26% year-over-year growth in AWS revenues. Amazon is set to report first-quarter earnings on Wednesday, and investors will be looking to see if the company's AI spending is paying off. Wall Street will have its eyes on one part of its business most closely: Amazon Web Services, Amazon's top profit driver.The firm is expected to spend $200 billion in 2026 on AI projects like data centers and chip development as it looks to use AI to improve the AWS user experience, write software, and improve data storage.Investors will want to see progress in AWS revenue growth for proof that all of that cash being dumped into its AI buildout is delivering meaningful returns. In Q4 2025, AWS revenue rose by 24% year-over-year.The stock has had a stellar month, rising 29% over the last 30 days. Year-to-date, it's up 14%, trading at around $260 a share. Analysts expect net sales of $177.23 billion and earnings per share of $1.62. Here's what Wall Street analysts say to watch for when the company reports on Wednesday afternoon.RBC Capital MarketsThe bank says AWS revenues will be a crucial metric to watch as investors seek for clues that all of Amazon's AI spending is paying off."We believe the 1Q26 print will be pivotal in demonstrating whether AWS can deliver acceleration sufficient to validate the $200B capex guide that exceeded all Street expectations," analyst Brad Erickson wrote in a client note on Monday. Erickson said Amazon bulls will be looking for at least 30% year-over-year growth in AWS revenues.RBC has an "Outperform" rating on the stock, and a price target of $300 a share, implying 15% upside.UBSUBS is uber-bullish on AWS, and says it expects Amazon's cloud business to announce significant growth of 38% on revenues."Where we continue to diverge most meaningfully vs the Street is in the ramp in AWS revenue for 2026 — which currently remains at 38% (vs Street 26%), which then compounds into 2027," wrote analyst Stephen Ju in an April 23 note. "Our 2027 Operating Income estimate is hence ~39% higher than consensus, and we con...
Amazon earnings preview: Big AI deals meet a $200B spending binge
Amazon reports Q1 earnings Wednesday with a $244 billion cloud backlog and blockbuster deals with Meta, OpenAI, and Anthropic, but investors are watching whether the company's $200 billion ...
Amazon Q1 earnings put the spotlight on AI spending and revenue
Earlier this month, CEO Andy Jassy wrote in his annual shareholder newsletter that AWS's AI revenue has a run rate of more than $15 billion as of Q1 2026 and continues to grow. What's more, he ...
Amazon 2026 Q1 Earnings Preview: AWS and Advertising Dual Engines Power ...
Amazon is expected to report Q1 2026 revenue of $177.2 billion, up 13% YoY, driven by AWS and advertising growth. The company plans a record $200 billion capital expenditure for 2026, primarily for AI infrastructure. Despite strong AWS and advertising performance in Q4 2025, net income missed expectations. The market is closely watching Amazon's AI investments and strategic partnerships ...
