LIVE: Amazon reports earnings

• Amazon's fourth quarter earnings report comes amid heightened concerns over the company's spending in one-day shipping and slowing growth in its massive Amazon Web Services cloud unit.
• Amazon's stock has lagged its peers and the broader market over the past year.
• Wall Street analysts still seem bullish over Amazon's long-term prospects.
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Amazon is reporting fiscal fourth quarter earnings at market close on Thursday.

Wall Street expects Amazon to report sales growth of roughly 19% this quarter, as the company is spending billions of dollars in faster delivery and its cloud business. All that investment, however, is likely to cut into Amazon's profitability.

Here's what Wall Street is expecting for the quarter:

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• EPS: $4.04, according to analysts surveyed by FactSet, vs. $6.04 last year
• Revenue: $86.0 billion, according to FactSet, vs. $72.4 billion a year ago
• Amazon Web Services: $9.8 billion, according to analysts surveyed by FactSet, vs. $7.4 billion last year

Estimates for the market-leading Amazon Web Services cloud unit show continued deceleration, as competition from Microsoft and Google intensifies. The estimated 32% growth in AWS for the fourth quarter is the weakest year-over-year revenue growth since Amazon started disclosing the unit's revenue in 2015.

Concerns over Amazon's heightened spending and AWS's slowdown have caused the company's stock to lag behind its peers and the broader market over the past year. Amazon's stock is trading roughly flat this year, falling behind its peers like Apple (up about 11%), Alphabet (up 9% or so), and Microsoft (up about 8%). In 2019, it underperformed the broader market for the first time in 5 years.