Amazon.com, Inc. AMZN is scheduled to announce its Q3 results Thursday. Cantor Fitzgerald analysts Youssef Squali, Naved Khan and Kip Paulson shared a preview of the upcoming results.
The analysts anticipate revenue growth of roughly 29 percent year-over-year, driven by the company’s expanding retail market share, and sturdy 3P and AWS businesses. While the firm’s checks suggest the whole ecommerce space is witnessing healthy double-digit growth, the analysts believe Amazon is “one of the prime beneficiaries of such a trend.”
For Q3, Cantor analysts are modeling revenue of $32.49 billion and EPS of $0.58, below the Street’s consensus of $32.66 billion and $0.78, respectively.
It should be noted that for Q2, the firm had estimated revenue of $29.09 billion and EPS of $0.86, while the actual results came in at $30.404 billion and $1.78, correspondingly. The Street expected $29.53 billion in sales and $1.10 in EPS at the time.
Cantor analysts provided some other estimates for Amazon’s Q3. They envision a gross margin of 35.3 percent, up +140bps year-over-year on the back of a larger mix of AWS, 3P and digital. They also expect F/X to cause a revenue tailwind of approximately $85 million, driving EPS up by about $0.01.
The firm maintains a Buy rating and $1,000 price target on shares of Amazon.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.