Amazon Q2 Earnings Preview: Analyst Expects Strong Growth In Sales, Cloud Services, But Cautious On Q3 Profit Guidance
Portfolio Pulse from Surbhi Jain
Amazon is expected to announce strong Q2 earnings, with BofA Securities' analyst Justin Post forecasting $149 billion in revenue and 18% growth in AWS. Despite a positive Q2 outlook, caution is advised for Q3 profit guidance due to high expectations and rising freight costs. Post maintains a Buy rating with a $220 price target.
July 26, 2024 | 7:54 pm
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Amazon is expected to report strong Q2 earnings with $149 billion in revenue and 18% growth in AWS. However, caution is advised for Q3 profit guidance due to high expectations and rising freight costs. BofA's Justin Post maintains a Buy rating with a $220 price target.
The positive Q2 earnings forecast and AWS growth are likely to boost Amazon's stock in the short term. However, caution for Q3 profit guidance may temper some of the enthusiasm. The Buy rating and $220 price target from BofA's analyst further support a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100