Get Ready for Amazon's Second-Quarter Earnings

The e-commerce company's shares top $1,000 ahead of its earnings report
Author:
Publish date:

Amazon (AMZN) - Get Report  is up 40% year-to-date to $1,049.88 but it could go higher after it reports second-quarter results after Thursday's closing bell.

The U.S. online and offline retailer is expected to report earnings of $1.41 per share, down from $1.78 per share last year, according to analysts surveyed by FactSet. Revenue is expected to jump to $37.2 billion, up from $30.4 billion in the year ago period. In the last earning's call, Amazon said it expects revenue to come in between $35.25 billion and $37.75 billion for the second quarter.

Investors can expect management to get a deluge of questions about the Whole Foods (WFM)  deal during the earnings call. The $13.7 billion deal that was announced in mid-June after six months of talks between the two companies was a "historical moment," Whole Foods CEO John Mackey said during a town hall meeting. "Together, these two companies are going to do tremendous dreams together," Mackey said. "We're going to make a big difference in the food industry."

Watch More with TheStreet: