From Nasdaq: 2024-04-29 19:46:00

Wall Street eagerly awaits Amazon’s Q1 report on April 30 following Alphabet’s strong results. Amazon stock continues to rise, nearing $200 per share after a stock split in 2022. Earnings are projected to reach $0.81 per share, a 161% increase from the previous year, with sales expected to rise 12% to $142.55 billion.

Amazon’s AWS dominates the domestic cloud computing market, expected to see a 13% sales increase in Q1. The stock price has soared 77% in the last year, matching Alphabet’s performance. Positive earnings estimate revisions suggest continued growth, with annual earnings projected to rise 42% this year.

With a Zacks Rank #2 (Buy), Amazon’s stock looks promising ahead of its Q1 report. Positive earnings estimate revisions and a strong EPS outlook for FY25 indicate potential for growth. The Zacks ESP predicts that Amazon may exceed earnings expectations once again. Consider taking a closer look at Amazon stock before earnings are released.



Read more at Nasdaq: Time to Buy Amazon’s Stock as Q1 Earnings Approach?