The e-commerce giant is expected to report a marginal decline in its online sales for the first quarter and see revenue from its AWS cloud-computing business continue to slow.The e-commerce giant is expected to report a marginal decline in its online sales for the first quarter and see revenue from its AWS cloud-computing business continue to slow.
What to expect Earnings: Analysts surveyed by FactSet expect Amazon to record 21 cents a share in earnings for the first quarter, whereas the company generated a 38-cent per-share loss in the year-prior period. On Estimize, which crowd sources projections from hedge funds, academics and others, the average estimate is for 23 cents a share in earnings.
Stock movement: Amazon shares have declined following eight of the company’s past 10 earnings reports, including each of the last two. The stock is up 25% so far this year, as the S&P 500 SPX has increased 6%. “AWS is among our top focus areas and given improving Azure and Google Cloud results in 1Q23, we will be listening for signs of stabilization trends and insights around optimizations and newer workloads,” he wrote in a note to clients.