Amazon Q3 preview: AWS is booked up, Wall Street eyes spending plans

Amazon reports third-quarter results Thursday, with analysts expecting revenue of about $202 billion (+12%) and EPS of $1.96. AWS is projected at $45.4 billion (+37.5%), while CEO Andy Jassy says capacity is largely booked through 2027 and part of 2028, with capex around $220 billion this year.

• Revenue expected at about $202B, up 12% year over year
• AWS forecast at $45.4B (+37.5%), with $496B in signed backlog
• 2026 capex around $220B, up from the earlier $200B plan
• Anthropic stake valued at about $190B, including $92B in convertible notes