From CNBC: 2024-04-30 12:01:01

Amazon CEO Andy Jassy is set to reveal first-quarter earnings, where analysts expect earnings per share of 83 cents and revenue totaling $142.5 billion. Key metrics to watch include Amazon Web Services with expected revenue of $24.5 billion and advertising revenue reaching $11.7 billion.

Thanks to cost-cutting measures and strategic operational changes, Amazon anticipates a 12% revenue growth, with operating income projected at $11.2 billion. Amid layoffs and cost control, CEO Andy Jassy has steered Amazon towards profitability in key areas like cloud computing and advertising.

Analysts predict a 12% growth in Amazon Web Services revenue, with executives foreseeing increasing demand for artificial intelligence tech. Advertising revenue is also expected to climb over 23%, reflecting Amazon’s strong performance in the digital ad market compared to peers like Meta and Google.

Watch for potential announcements of Amazon’s first-ever dividend as the company closed 2023 with $73.4 billion in cash. The earnings call at 5:30 p.m. ET will reveal more insights into Amazon’s financial outlook for 2024, particularly in the areas of cloud computing and advertising growth.



Read more at CNBC:: Amazon (AMZN) Q1 earnings report 2024