From Nasdaq.: 2024-04-30 07:33:00

Amazon’s stock has surged, up 22% in six months and 18% year to date, outperforming the S&P 500. The e-commerce giant’s cost-cutting strategies are paying off, with net profit margin increasing by 672 basis points. Investors are eager to see if Amazon can sustain its strong momentum.

Amazon is set to announce its first quarter fiscal 2024 earnings results, expected to post earnings of 83 cents per share on revenue of $142.47 billion. The company’s cost-cutting initiatives have led to slimmer cost profiles, driving faster earnings growth. Full-year earnings are projected to rise 42% year over year to $4.14 per share.

In the fourth quarter, Amazon beat revenue estimates by $3.7 billion, reporting revenue of $169.96 billion. The AWS segment revenue increased 13% year over year to $24.2 billion, with operating margins at 29.6%. CEO Andy Jassy emphasized investments in AI to drive future growth.

Amazon’s stock remains attractive for growth portfolios, with a focus on long-term potential. Investors are looking for strong profit guidance in the upcoming earnings report to support their investment thesis. The company’s cost-cutting measures have significantly improved its cost structures across various segments.



Read more at Nasdaq.:: Amazon (AMZN) Q1 2024 Earnings: What to Expect