Amazon.com Inc (NASDAQ:AMZN)'s third quarter earnings are expected to surge more than 34% for the third quarter driven by continued strong growth in its Amazon Web Services (AWS) business, Wall Street analysts have forecast.
Earnings per share (EPS) are expected to increase from $0.85 in the year-ago quarter to $1.14.
Revenue is also seen jumping almost 10% to $157 billion from $143 billion for Q3 2023.
Amazon has guided revenue in the range of $154 billion to $158.5 billion, representing growth between 8% to 11%.
Operating income is expected to grow from $11.2 billion in Q3 2023 to between $11.5 billion and $15 billion.
Amazon will hand down its Q3 earnings report on October 24.
The company’s shares traded hands at about $187 late morning on Thursday, having gained almost 25% so far in 2024.