Here’s what analysts are expecting, according to estimates compiled by LSEG:<\/p>\n
Earnings per share: $1.82 Revenue: $196.47 billion <\/p>\n
Wall Street is also looking at other key revenue numbers: <\/p>\n
Amazon Web Services: $40.54 billion expected, according to StreetAccountAdvertising: $19.43 billion expected, according to StreetAccount<\/p>\n
Investors are watching Amazon and the rest of the so-called hyperscalers’ capital expenditures<\/a> as the mood around massive investments in artificial intelligence<\/a> has grown increasingly jittery. Alphabet<\/a> shares sank last week after the company hiked its capex forecast<\/a> for the year to as high as $205 billion. <\/p>\n On Thursday, Microsoft<\/a> shares surged as much as 15% after the company reported<\/a> better-than-expected earnings and reaffirmed its 2026 capex plans. Meta<\/a>‘s stock tumbled<\/a> 9%, meanwhile, after it gave a light revenue forecast for the current quarter, with its AI bets eating into its cash flow. <\/p>\n Amazon’s capital expenditures reached $44.2 billion<\/a> in the first quarter, up 77% from a year ago, and the figure is expected to creep higher in the second quarter to $49.3 billion, per FactSet data. <\/p>\n The company held steady on its February guidance that capex will hit roughly $200 billion for 2026. But several analysts are expecting Amazon to follow in the footsteps of Alphabet and lift its forecast for the year. <\/p>\n Analysts at Morgan Stanley<\/a> wrote in a research note earlier this month that the “ecosystem remains compute-constrained and urgency to spend remains high.” They now expect Amazon’s capex to reach $218 billion this year, and forecast budgets to keep rising through 2028, when capex could total $318 billion. <\/p>\n The analysts were also bullish on Amazon’s cloud business, pointing to its “private lab deals” as a catalyst for “multi-year growth durability.” Amazon has continued to deepen its cloud and chips partnerships with the leading AI providers OpenAI<\/a> and Anthropic<\/a>. In April, it struck a deal with Meta to supply the social networking giant with AWS Graviton chips<\/a>.<\/p>\n “We also think AWS’s access to almost all of the leading models, small\/medium and customized models position it as a winner in a world where optimizing token cost per task is the key,” Morgan Stanley analysts wrote.<\/p>\n Cloud growth will be in focus after Amazon’s primary rivals both posted strong results. Google Cloud revenue jumped 82%<\/a> year over year in the most recent quarter. Microsoft’s Azure cloud revenue rose 43%<\/a> during the fiscal fourth quarter. <\/p>\n AWS revenue is expected to rise about 31% from a year ago, according to StreetAccount, compared with 28%<\/a> growth in the first quarter, which represented its fastest expansion in more than three years.<\/p>\n While Amazon continues to invest in AI, it has trimmed its corporate head count. The company held layoffs in its customer service and seller support divisions in recent months. <\/p>\n Stock Chart IconStock chart icon Amazon stock chart.<\/p>\n Last week, it announced<\/a> job cuts in its artificial general intelligence unit, marking the latest reorganization of that group after Amazon installed a new AGI leader<\/a> and the head of its AGI Lab<\/a> announced his departure. <\/p>\n During the second quarter, Amazon hosted its annual Prime Day discount bonanza. The company moved up the event from its typical July time frame, citing a busy calendar marked by the World Cup and America’s 250th anniversary of independence. <\/p>\n Mizuho analysts wrote in a Monday note that the timing shift could lead to a slowdown in Amazon’s North America retail sales growth in the third quarter before they reaccelerate in the fourth quarter. <\/p>\n U.S. online spending across all retailers during Prime Day, which ran June 23 through June 26, grew about 9.3% year over year to $26.4 billion<\/a>, according to Adobe. Amazon doesn’t release sales figures from the event. <\/p>\n Evercore analysts described the event as “reasonably successful” in a note to clients earlier this week. Analysts at KeyBanc said their proprietary data showed Prime Week spending rose 41.7%, compared with 50.5% last year, indicating the event was “strong, but not as strong as last year.”<\/p>\n Amazon stock is up about 3% year to date, while the S&P 500 has risen roughly 8%. <\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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