"When the company reported Q2 earnings on July 31, its financial performance was overshadowed by a bleak outlook, with guidance weaker than Wall Street's forecast. Amazon beat on earnings and revenue, with EPS coming in at $1.68 versus expectations of $1.33 and revenue of $167.7 billion versus expectations of $162.09 billion. Revenue from AWS was $30.87 billion versus expectations of $30.8 billion, while advertising revenue registered $15.7 billion versus expectations of $14.9 billion."
"Nonetheless, analysts remain bullish on the e-commerce and cloud services giant, with the stock receiving a series of price target adjustments in the lead-up to and wake of the company's Q2 earnings call. On Aug. 1, Bank of America raised its price target to $272 from $265, Barclays raised its price target to $275 from $240 and Piper Sandler raised its price target to $255 from $250."
Shares of Amazon.com Inc. declined modestly over recent trading sessions, bringing its year-to-date loss to 0.39%. Amazon announced same-day grocery delivery starting in August. Founder Jeff Bezos sold nearly 3 million shares worth $665.8 million as part of a plan to sell up to 25 million shares through May 2026. Q2 results beat expectations with EPS of $1.68 and revenue of $167.7 billion, including AWS revenue of $30.87 billion and advertising revenue of $15.7 billion. Q2 sales grew 13% year-over-year. Q3 operating income guidance of $15.5–$20.5 billion trailed analyst forecasts. Several firms raised price targets following earnings.
Read at 24/7 Wall St.
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