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Amazon Q2 Earnings Live Blog Coming After the Close Thursday

Among the things to watch for Amazon’s e-commerce results and the ongoing spending on its Covid-19 response.
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TheStreet and RealMoney tech columnist Eric Jhonsa is live blogging Amazon’s  (AMZN) - Get, Inc. Report second-quarter earnings report due out after the close on Thursday, July 30. Amazon shares are up 66% this year amid bullish sentiment surrounding the company’s strength in both e-commerce and cloud technology, two sectors that have seen accelerated adoption over the past few months given the coronavirus pandemic and stay-at-home orders.

Among the key things to watch for on Thursday are Amazon’s e-commerce numbers, for which there are high expectations; the ongoing spending on Amazon’s Covid-19 response, which the company said in its first-quarter earnings call would cost it as much as $4 billion in profits in the second quarter; how the pandemic has impacted spending on its Amazon Web Services cloud business; the latest on Amazon’s fast-growing advertising platform and how it has been impacted by the pandemic; and any updates on Amazon’s linchpin Prime service.

Analysts are expecting Amazon to post second quarter revenue of $81.37 billion (up 28%) and GAAP EPS of $1.48 (down 72% due to major COVID-related expenses). For the third quarter -- Amazon usually provides sales and operating income guidance in its reports -- the revenue consensus is at $86.4 billion (up 24%) and GAAP operating income of $3.1 billion (down 2%).

We’ll also be reporting on and analyzing Amazon’s earnings call with analysts, scheduled for 5:30 p.m. E.T.

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