Filed under: After the bell, Earnings reports, Forecasts, Products and services, Amazon.com (AMZN)
The week got off to a shaky start in the wake of several earnings disappointments, thus a lot of attention will be paid to Amazon (NASDQ: AMZN) when it reports its second quarter numbers this afternoon after the market closes.
Analysts are looking to see Amazon show earnings of 26 cents per share, and revenue of $3.96 billion. The last time that the company reported earnings was April 23, when be itat analysts’ estimates by 2 pennies, with a reported 34 cents per share for its first quarter.
It has definitely been a tough couple of months for retailers, but we could see some strength in Amazon as a result of changes it made during the quarter which grants users to shop the store from their cell phones via its new service TextBuyIt.
Analyst forecasts:
Shawn Milne, an analyst with Oppenheimer & Co. , is optimistic regarding this afternoon’s earnings release, and has told his clients that he is looking to see a solid quarter from the company, and expects strong international growth to create upside in the quarter. While he’s overall positive on the company, he did go so far as to warn that there is the potential for a tough quarter for the company’s North American business, stemming from an overall reduction in spending.
Scott Devitt, an analyst with Stifel Nicolaus & Co., is also expecting to see a good quarter, and has predicted that the company is going to match on its revenues estimates and report earnings that are a penny higher than the 26 cents that Wall Street is expecting.
If history is able to repeat itself, we should see a decent quarter from the company. Amazon has been able to match or exceed analysts’ estimates for the last 8 straight quarters, with the last miss coming back in July of 2006.
What are you expecting to see from Amazon this afternoon? Will the company be able to overcome the slowing American economy and put up another strong set of numbers, or will wee see the effect of consumer spending hitting the company’s bottom line? Let us hear your thoughts.
Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the on the internet investment advisory service Investor’s Observer.
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