LIVE: Here come Amazon earnings

Jeff BezosFounder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin's space exploration plans in Washington, U.S., May 9, 2019.Clodagh Kilcoyne/Reuters

Amazon is set to report third-quarter earnings after the market closes on Thursday.

The Seattle-based company earlier this year said it planned to make one-day shipping the new standard for Amazon Prime, the membership program that drives sales on Amazon.com and offers members perks such as fast, free shipping and access to other Amazon services such as the Prime Video streaming service.

Analysts will be watching for indications into how much Amazon is spending on the move to one-day shipping after the company earlier this year said it was costing more than anticipated.

Amazon's massively profitable cloud business Amazon Web Services will also be a point of interest, as it seeks to retain its dominance in the market against challengers including Microsoft Azure.

Here's what Wall Street is expecting:

  • Q3 revenue: $68.8 billion, up more than 21 percent from the same quarter last year
  • Q3 earnings per share: $4.59 (GAAP)

Amazon's earnings come just as antitrust scrunity renews speculation the company will spin off Amazon Web Services into a separate company.

We'll be reporting the earnings live, so refresh for updates.

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