From Seattle's own, GeekWire, August 1:
In-depth Amazon coverage from the tech giant’s hometown, including e-commerce, AWS, Amazon Prime, Alexa, logistics, devices, and more.
Amazon’s cloud revenue growth rate and its artificial intelligence initiatives will be closely scrutinized when the company reports second-quarter earnings Thursday afternoon, Aug. 3.
Wall Street analysts expect the company to report net sales (revenue) of $131.5 billion, up 8.5% from a year ago, as reported by Yahoo Finance. Analysts expect earnings of 35 cents a share, vs. a loss of 20 cents a share a year ago (which included a valuation loss on the company’s Rivian Automotive investment).
In its prior guidance for the second quarter, Amazon said it expected net sales between $127 billion and $133 billion; and operating income between $2 billion and $5.5 billion, compared with $3.3 billion in operating income a year ago.
Amazon “should benefit from an uptick in macroeconomic sentiment across the board,” wrote Wedbush analyst Michael Pachter in a note to clients this week.
“Given Amazon’s exposure to both consumer and corporate spending we see the company as well positioned to benefit from a greater consumer confidence (through subscription, online stores, physical stores, and third-party seller services) and from increased corporate spending (through AWS and advertising services),” Pachter added....
....MUCH MORE
