Amazon Sales Reach $201.9 Billion as Coinbase Posts Net Income of $719 Million
Key Facts
Amazon reported results on October 29 for the third quarter ended September 30, 2026, posting net sales of $201.9 billion, up 12% year over year. Revenue and earnings per share fell short of analysts’ expectations, while investors focused on the performance of its core operations and the scale of cash spending on AI. The company said net sales “increased 12% to $201.9 billion in the third quarter.” Amazon shares fell 7% in after-hours trading when the results were released. The stock closed at $243.79 in the October 29 session, according to EL7 data.
The market reaction reflects investor sensitivity to the company’s ability to fund its AI expansion alongside growth in its businesses. Amazon said it expects to spend $220 billion on capital expenditures during 2026, with a large portion directed toward building AI data centers. That spending remained a key focus in assessing the results, alongside revenue and earnings per share, which came in below analysts’ expectations. In its guidance for the following period, the company forecast fourth-quarter sales of between $240 billion and $247 billion. That would represent expected year-over-year growth of between 12% and 16%.
In the cryptocurrency sector, Coinbase reported net income of $719 million for the third quarter of 2026 and adjusted net income of $78 million. The company also said its share of cryptocurrency trading volume reached 10.7% during the quarter, marking its fourth consecutive quarter of market-share gains. This extends its improved position in trading over recent quarters, according to the company’s disclosure. Subscription and services revenue accounted for 49% of Coinbase’s net revenue in the third quarter. The figure highlights the contribution of revenue sources beyond trading to the company’s revenue mix.
In the energy sector, investors were awaiting ExxonMobil’s results, scheduled for release on Friday, October 30, 2026; the company had not yet announced them at the time of publication. A preliminary company statement showed that higher refining margins could add $4.5 billion to earnings from its refining business in the third quarter compared with the second quarter. By contrast, lower prices for upstream assets could reduce earnings by about $1.3 billion on the same quarter-over-quarter basis. Reuters reported that the average closing price of Brent crude fell about 5.6% in the third quarter compared with the second quarter. Full results are scheduled for release at 5:30 a.m. Central time, followed by an earnings review call at 8:30 a.m.