Amazon and Macy's report second-quarter financial results

Amazon reported a 245% increase in net income for the June quarter, reaching $62.6 billion. However, much of this growth was driven by a $50.5 billion upward adjustment related to its equity investments in the private company Anthropic. This unrealized markup on nonvoting preferred stock represents 62.4% of Amazon's pre-tax income and is significantly larger than the combined earnings from its retail, advertising, and cloud businesses.

Excluding this markup, Amazon's pre-tax income was approximately $30.4 billion, compared to $20.9 billion in the previous year, representing roughly 46% growth. Total net sales for the quarter were $200.6 billion, an increase of 19.6%.

Macy's reported second-quarter 2026 net sales of $4.9 billion, a 1.1% increase from the previous year. Comparable sales rose by 2.7% across the company. Performance was strong across its brands, with Bloomingdale's seeing an 11.3% increase in comparable sales and Bluemercury increasing by 6.2%.

Macy's GAAP net income nearly doubled to $169 million from $87 million in the prior year. The company also raised its full-year sales and earnings outlook and reported a cash position of $1.3 billion.