ab 31 July 2026 Global Research US Equity Strategy 2Q26 Earnings Brief: July 31 Amazon reported 2Q results with revenue of $200.6bn (vs $197bn consensus) with the beat primarily driven by AWS revenue accelerating 37% YoY (vs 31% consensus). Within AWS, both the AI and chips businesses exceeded $25bn in ARR individually (vs $20bn in Q1). EPS came in at $5.75 (vs $1.82 consensus) but included significant gains from investments in a private AI company. Revenue guidance for Q3 was lowered to $197bn-$202bn (vs $ ...