"When the company reported Q2 earnings on July 31, its financial performance was overshadowed by a bleak outlook, with guidance weaker than Wall Street's forecast. Amazon beat on earnings and revenue, with EPS coming in at $1.68 versus expectations of $1.33 and revenue of $167.7 billion versus expectations of $162.09 billion. Revenue from AWS was $30.87 billion versus expectations of $30.8 billion, while advertising revenue registered $15.7 billion versus expectations of $14.9 billion. Q2 sales saw year-over-year growth of 13% to $167.7 billion."
"On Aug. 1, Bank of America raised its price target to $272 from $265, Barclays raised its price target to $275 from $240 and Piper Sandler raised its price target to $255 from $250. This comes on the back of numerous adjustments in July, with Capital ($270 from $233), Citi ($265 from $225), Needham ($265 from $220), Cantor Fitzgerald ($260 from $240) and Truist ($250 from $226)"
Amazon recorded a 1.04% gain over the past five trading sessions and a 1.36% year-to-date rise. The company will begin offering same-day grocery delivery in August. Jeff Bezos sold nearly 3 million shares for $665.8 million as part of a plan to sell up to 25 million shares through May 2026. Q2 results beat EPS and revenue expectations, with AWS and advertising revenues topping forecasts and Q2 sales up 13% year-over-year to $167.7 billion. Q3 operating income guidance of $15.5–$20.5 billion was below analysts' $19.48 billion forecast. Multiple firms raised price targets following earnings, and the stock rallied about 50.33% from its 2024 bottom to its Feb. 4, 2025 high before sliding 7.76% from that peak.
Read at 24/7 Wall St.
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