Amazon Lifts Spending Forecast as AWS Contracted Revenue Backlog Reaches $578 Billion

Amazon raised its 2026 capital-spending forecast to $220 billion from $200 billion as its cloud unit, Amazon Web Services (AWS), recorded a $578 billion contracted revenue backlog. The backlog posted a triple-digit percentage gain year over year. Amazon expects its spending to weigh on free cash flow until new data centers begin paying off. President and CEO Andy Jassy said the higher spending plan may still fall short of demand. Jassy also said AWS could become a $1 trillion business within five to 10 years. Amazon’s management expects AWS growth to continue through at least 2028. Amazon’s third-quarter revenue rose 12.1% year over year to $201.94 billion, below the $202.22 billion estimate. Earnings per share were $1.89, short of the $1.97 estimate.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.