Jassy reiterates that AWS can become a trillion-dollar revenue business
On October 30, 2026, Amazon CEO Andy Jassy reiterated on the quarterly earnings call that AWS is expected to become a trillion-dollar annual revenue business within the next 5 to 10 years, and he expects growth rates to exceed 40% in both 2027 and 2028. He also said that cash capital expenditures in 2026 will be about $220 billion, most of it directed to AWS, and will increase significantly further in 2027. On the same day, Amazon reported its third-quarter 2026 financial results: net sales rose 12% year over year to $201.94 billion, slightly below expectations; AWS net sales rose 39.3% year over year to $45.98 billion, the highest single-quarter growth rate in nearly five years. Purchases of property and equipment in the quarter reached $77.26 billion, and free cash flow over the past 12 months swung from an inflow of $14.79 billion in the same period a year earlier to an outflow of $42.36 billion; the company maintained its full-year 2026 cash capital expenditure guidance of about $220 billion unchanged. After the results were released, the stock fell by as much as more than 10% in after-hours trading.
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View story:Andy Jassy reiterates that AWS can become a trillion-dollar revenue business