Amazon AWS Backlog Hits $496 Billion as Cloud Margin Reaches 39%

โดย The Motley Fool·US·Read original
Summary · why it matters

Amazon Web Services' backlog climbed to $496 billion while its operating margin reached 39%, according to The Motley Fool. AWS revenue growth accelerated to 37% year over year in the second quarter of 2026, up from the lower 20% range for most of 2025, and AWS accounted for 60% of Amazon's operating profits in that quarter. Amazon is on course to spend around $220 billion this year on capital expenditures, with nearly all of that total going to data centers. CEO Andy Jassy told investors the company would not be able to build computing capacity fast enough to fully meet demand in 2026, with the shortage likely persisting through 2027, and 2028 demand already appearing. Amazon's stock trades at less than 25 times next year's expected earnings.

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AWS operating margin reached 39%, it drove 60% of Amazon's operating profits, and the stock trades under 25x next year's earnings.

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