Markets

Breakdown of the latest developments on the global exchanges
Oct 21, 2019, 12:00 PM GMT
#EarningsSeason

Amazon.com Inc. Reports on Thursday

The retail giant is expected to report its earnings for the quarter ending September 2019 on Thursday after the market close.

According to Zacks Investment Research, the Earnings Per Share that are going to be reported on Thursday will reach $4.46. In contrast, the recorded EPS for the same quarter last year was $5.75.

Amazon.com had previously experienced a period of sustained revenue growth for five consecutive quarters; however, the last earnings report for Q2 disappointed as the reported EPS tumbled to $5.22 from $7.09 in Q1.

Consequently, if the general market forecasts are met on Thursday, Amazon’s revenue would have markedly lessened for the second consecutive term.

These distortions in the company's revenue growth are owing to the prolonged trade war between the US and China, as the sustained uncertainty is impeding the free flow of global trade.

The share price of the company is currently trading at around 1757.51. Provided that the earnings report on Thursday fails to deliver any positive market surprises, the price is likely to tumble to 1692.45 and test the strength of the support level there.

Amazon.com Inc. share price 1D chart