Amazon is expected to report revenue growth for the third quarter of 11%, according to analysts surveyed by LSEG.Earnings per share:Amazon Web Services:After Amazon's growth slowed dramatically last year due to rising inflation and economic concerns, expansion has ticked up a bit in 2022, though it's still weaker than usual for the company. Amazon's retail business is expected to show some improvement from consumers tepidly resuming discretionary spending.
Investors will be listening closely to commentary about the fourth quarter, which includes the critical holiday period. The December quarter will also include the results ofAnalysts surveyed by LSEG are looking for fourth-quarter earnings per share of 66 cents and revenue of $166.6 billion, an increase of close to 12% from a year earlier.
Amazon's cloud computing business, the company's profit engine, will also attract close scrutiny from Wall Street. Growth at Amazon Web Services has slowed in recent quarters as big businesses looked to reel in spending. The frenzy around generative artificial intelligence is leading to bigger workloads in the cloud, which should be a boon for AWS and its rival public cloud vendors. But Amazon's smaller competitors in the space, Google andAmazon shares are up 42% this year, topping the Nasdaq's 23% gain. Investors have cheered the company's cost-cutting efforts after it became clear that Amazon, like many of its tech peers, had expanded too quickly during the pandemic.
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