As Wall Street looks toward 2023, earnings growth for the companies that make up the S&P 500 index could hinge on just one of them: Amazon.com Inc.
But for Amazon to do that kind of heavy lifting, it will have to find ways to entice consumers who have been more reluctant to click away buying things online. And it will have to find ways to draw bigger gains out of its cloud-services division as tech spending becomes more iffy.Amazon on average is expected to swing to a profit of $1.86 per share in 2023 by analysts, contrasting with an expected loss of 10 cents a share currently expected for 2022 after three quarters of reported returns.
Software giant Oracle Corp. ORCL, +0.48% reports earnings on Monday, and Adobe Inc. ADBE, +1.67% reports reports on Thursday, as Wall Street tries to suss out software demand amid a broader pullback in tech spending and tech-industry layoffs. The calls to put on your calendar Adobe, Oracle: In October, Adobe ADBE, +1.67% said it would stick with its fourth-quarter outlook. The move made the company — known for the design platforms like Photoshop, Illustrator and InDesign — an outlier in the tech industry, where layoffs and weaker sales have become more prevalent.
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