5 Signs Amazon Could Destroy Estimates Next Week
Earnings season is just starting to heat up and Amazon (NASDAQ: AMZN) is sure to be one of the most closely watched stocks in the coming weeks. Since we last heard from the tech giant at the end of April, the stock has surged 27%, adding more than $300 billion in market value in less than three months.
There's little doubt that Amazon has been one of the biggest beneficiaries of the pandemic as nearly all of the company's businesses are set up to capitalize on such a crisis, including e-commerce, cloud computing, and video streaming, as well as emerging technologies like those behind the Amazon Go stores.
That means that Amazon has enjoyed a substantial tailwind in the second quarter and could blow away expectations, at least on the revenue side, when it reports earnings after hours on July 30. Analysts are expecting revenue to jump 27.5% to $80.8 billion but think earnings per share will shrink from $5.22 to $1.34 as the company promised to spend $4 billion on safety protocols around the coronavirus, including developing its own testing.
Source Fool.com
