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Technology

Amazon set to report second quarter earnings after the bell

Amazon is set to report its second quarter earnings Thursday after the bell.

The results come as Amazon CEO Jeff Bezos just surpassed Microsoft cofounder Bill Gates to become the richest person in the world. Amazon’s stock has been on an absolute tear over the past two years, nearly doubling in price in that period.

Here are the most important numbers:

  • EPS: $1.42 per share expected, according to consensus estimates from Thomson Reuters
  • Revenue: $37.18 billion expected, according to Thomson Reuters
  • Amazon Web Services (AWS) revenue: $4.08 billion expected, according to FactSet

There’s been a lot going on at the company. Amazon announced its deal to buy Whole Foods for $14 billion last month. The company has also purchased Souq.com, one of the largest e-commerce shops in the Middle East, in March. It’s also looking seriously at the health industry: CNBC reported that the company is exploring opportunities in health care technology and pharmaceuticals.

Amazon’s cloud business, Amazon Web Services, continues to be the company’s fastest-growing and most profitable unit. Wall Street expects AWS to post $4.08 billion in revenue, up 41 percent year-over-year.

Amazon continues to expand internationally, rolling out Prime and other services in new regions. It just announced the launch of a new Prime Now service in Singapore on Thursday.

This is a breaking news story. Please check back for updates.

Source: Tech CNBC
Amazon set to report second quarter earnings after the bell

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