Amazon (AMZN) First Quarter 2024 Earnings Report | Wilnesh News

Amazon First-quarter earnings will be released after the bell on Tuesday.

Here’s what analysts at the London Stock Exchange expect:

• Earnings per share: 83 cents
• income: $142.5 billion

Wall Street is also paying attention to several other numbers from the report:

• Amazon Web Services: Revenue was $24.5 billion, according to StreetAccount
• advertise: Revenue was $11.7 billion, according to StreetAccount

Analysts expect Amazon to report revenue growth of 12%, which would mark its fourth consecutive quarter of low-double-digit expansion and a slight acceleration from a year earlier.

Revenue grew faster due to broad cost cuts, adjustments to Amazon’s fulfillment business and stabilization of cloud spending. StreetAccount expects operating revenue to reach $11.2 billion, an increase of more than 130% over the same period last year.

Under Chief Executive Andy Jassy, ​​Amazon has become more disciplined on spending while growing monetization services such as advertising, cloud computing, Prime membership and third-party marketplaces.

The company has laid off more than 27,000 employees since the end of 2022, and the layoffs will continue into 2024.

After a difficult 2021 and 2022, Amazon shares soared 75% last year and are up 19% so far this year, outperforming the Nasdaq (up about 6.5%).

Analysts expect Amazon AWS revenue to grow 12%. That’s a slight slowdown from revenue growth of 13% in the previous quarter, but a sharp increase from the first quarter of 2023, when sales grew by only 9%.

Executives said in February that they expected growing demand for generative artificial intelligence technology to drive AWS growth. Jassy echoed that sentiment in his annual letter to shareholders released earlier this month.

Advertising, another high-margin business, will also be a key area to watch, with revenue expected to grow more than 23% annually to $11.7 billion.Digital Advertising Peer Yuan, Google and break All of last week’s earnings reports beat analysts’ expectations.

Wedbush analysts wrote in a note to clients last week that they expect Amazon’s advertising business to grow strongly in the first quarter and to see “healthy spending intentions throughout the remainder of 2024.”

“We believe it is early for Amazon’s opportunity and expect Amazon’s growth to be higher than that of the broader market, supported by continued expansion of off-platform advertising opportunities, continued profitability of Prime Video ads, emerging demand from non-popular advertisers, and core content. Digital Advertising Markets. They rate Amazon stock an outperform.

Wall Street is also watching whether Amazon will follow its tech peers in announcing its first dividend. Google parent Alphabet paid its first dividend last week alongside its quarterly results, while Meta approved its first-ever dividend in February.

Amazon it’s over By 2023, cash and equivalents will reach $73.4 billion.

The company will discuss the results with investors on a conference call at 5:30 p.m. ET.