Amazon Q3 revenue up 12% to $201.9 billion, AWS up 39%

Amazon and Home Depot illustrate two different retail trajectories. Amazon's diversified model spans e-commerce, AWS cloud computing, advertising, and subscriptions, letting it benefit from both consumer spending and enterprise tech investment. In Q3 2026, that translated into 12% total revenue growth to $201.9 billion, with AWS up 39% to $46 billion as AI infrastructure demand accelerated. Home Depot, by contrast, relies on building materials and home improvement services tied to housing market activity. Its Q2 fiscal 2026 revenue rose 5.7% to $47.9 billion, but management noted housing affordability pressures are pushing consumers toward smaller projects. The contrast suggests Amazon's cloud and AI exposure is currently a stronger growth engine than Home Depot's housing-sensitive retail model, though both companies continue to expand.