Amazon Expected To Post Record Earnings, Again
If you thought last quarter was good, just wait until Amazon reports Q3 earnings on Thursday—analysts expect it to show big gains for the king of e-commerce.
Analysts expect total revenue to rise by 29% year-over-year, with US e-commerce sales jumping 16% and Amazon Web Service revenues skyrocketing 52%, MarketWatch reports. Cantor Fitzgerald recently raised its price target on Amazon shares to $1k and shares are trading at $835.
Amazon has been in a groove, promising additional retail locations in DC, adding new products to its Dash Button line and opening specialized distribution centers throughout the country. Earlier this month the e-commerce behemoth announced plans to go after the grocery business with small convenience stores and curbside pickup. [MW]