Amazon (AMZN) Q3 FY2026 Earnings Overview: $220B AI Spending Outlook Weighs on Shares Despite 39% AWS Growth

Amazon reported Q3 FY2026 sales of $201.944 billion, below $202.1 billion Investing.com consensus, and shares fell 1.41% in the completed session. This analysis examines rapid AWS growth, the $220 billion cash capex plan, and whether higher operating profit can become sustained free cash flow.