Amazon is set to report its third-quarter earnings results after the bell on Thursday, and Wall Street is fairly bullish ahead of the report.
Shares are little changed, up 0.07% at $US973.63 a piece, ahead of the announcement.
Wall Street is expecting adjusted earnings of $US1.75 per share on revenue of $US42.194 billion. Bloomberg data shows. A vast majority, 87%, of analysts surveyed by Bloomberg rate the company as a “buy” compared to just one “sell.”
Goldman Sachs analyst Heath Terry said he will be primarily be watching the performance of Amazon’s Web Services business. He expects 41% year-over-year growth in the business.
Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.