Amazon.com Inc (NASDAQ:AMZN) reported record-breaking Q4 results today, comfortably topping revenue expectations even as it narrowly missed on the bottom line. Total revenue climbed 14% year-over-year to $213.4 billion, fueled by a significant re-acceleration in AWS, which grew 24% which is its fastest pace in over three years. While North American and International retail segments both showed double-digit strength, earnings per share (EPS) of $1.95 fell just short of the $1.97 consensus due to one-off tax and severance charges.
The primary point of contention was Amazon’s staggering 2026 capital expenditure (CapEx) guidance. CEO Andy Jassy announced plans to invest approximately $200 billion this year, a 60% increase from 2025, to scale AI infrastructure, custom chips, and the “Amazon Leo” model. While AWS operating margins remain healthy at 35% with a healthy $244 billion backlog, management signaled that this aggressive “growth at all costs” strategy will weigh on short-term operating income.
For more details, key highlights, and commentary, check out the high-level earnings summary.
