Amazon's Trailing Free Cash Flow Turns Negative at $42.4 Billion

Amazon's trailing twelve-month free cash flow was negative $42.4 billion in its Q3 2026 report on October 29, compared with positive $14.8 billion a year earlier. Amazon reiterated it expects about $220 billion in 2026 cash capital expenditures, driven largely by AI investment. AWS sales rose 39% in the same quarter.