From CNBC: 2024-08-01 12:00:01

Amazon CEO Andy Jassy discussed the upcoming second-quarter earnings on Mad Money. Analysts expect earnings per share of $1.03 and revenue of $148.56 billion. Amazon Web Services is projected to bring in $26 billion, while advertising revenue is expected to be $13 billion. Analysts predict 10.5% revenue growth, slightly lower than previous quarters.

Tech giants like Alphabet, Microsoft, and Meta have recently released their earnings reports. Wall Street is anticipating Amazon Web Services’ performance, particularly in artificial intelligence. Amazon is focusing on cost-cutting measures and the growth of its advertising segment. Amazon Prime Video now includes ads, offering a new revenue stream.

Amazon’s advertising business is thriving, with the potential to reach $150 billion in sales. The company secured a significant media rights deal with the NBA, enhancing its advertising and Prime Video platforms. Amazon’s stock has risen 23% this year, outperforming the Nasdaq. Investors and analysts are closely watching Amazon’s earnings report for further insights.



Read more at CNBC:: Amazon (AMZN) Q2 earnings report 2024