LIVE: Here come Amazon's earnings
- Amazon reports its first-quarter results on Thursday afternoon.
- Wall Street analysts are expecting it to report strong sales and earnings growth.
- Visit Business Insider's homepage for more stories.
Wall Street is predicting that the first quarter was another strong one for Amazon.
The retailing and cloud computing giant reports its results for the first three months of the year on Thursday afternoon. Analysts have forecast that the company will post strong revenue and earnings growth.Amazon has seen the growth of its retail business slow in recent quarters. But it's been buoyed by the supercharged growth of its Amazon Web Services cloud unit and its advertising sales.
Here's what analysts, on average, are expecting from the company and how their forecasts compare with Amazon's prior-year results:
- Q1 revenue: $59.68 billion. In the same period a year ago, Amazon recorded $51.04 billion in sales.
- Q1 EPS (GAAP): $4.67. The company posted a profit of $3.27 a share in the first quarter last year.
- Q2 revenue (outlook): $62.37 billion. In the second quarter last year, Amazon brought in $52.9 billion in sales.
- Q2 EPS (outlook): $6.34. The e-commerce giant earned $5.07 a share in the same period of 2018.
In recent trading before the market close, Amazon's stock was up $14.25 a share, or about 1%, to $1,916.00.
We'll be covering Amazon's results as they cross the wire, so refresh this page or click here for the latest updates.