Amazon Q1 2026 earnings

PARAGRAPH 1 --- What happened: Amazon reported Q1 2026 results on April 29, with companywide revenue increasing 17% YoY to $181.5 billion, driven by a 28% YoY growth in Amazon Web Services (AWS), the fastest in 15 quarters. Net income jumped to $14.02 billion, beating estimates. Following this, at least 14 Wall Street firms raised Amazon's price target, with an average upside potential of 17.42%.

PARAGRAPH 2 --- Market impact: The strong performance of AWS, Amazon's cloud computing arm, has driven a significant revaluation of the company. Analysts have identified AWS as the key growth driver, with its vertically integrated AI infrastructure stack and accelerating momentum convincing them to raise price targets. This has pushed Amazon's stock up around 25% over the past month, making it one of the best stocks to buy in 2026 according to billionaire George Soros.

PARAGRAPH 3 --- What to watch next: Investors should watch for Amazon's Q2 2026 earnings report, scheduled for late July, to see if AWS can maintain its strong growth momentum. Additionally, the evolution of Amazon's AI infrastructure stack and its potential impact on AWS's competitive position will be crucial to monitor, particularly as the company increases its investment in Anthropic and works more closely with OpenAI.