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Amazon.com, Inc. (NASDAQ: 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.”
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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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.