Amazon Q3 earnings updates: Analysts expect answers on AI progress and AWS as AMZN lags other Mag 7 stocks

Amazon CEO Andy Jassy

Noah Berger/Noah Berger

Amazon is heading into its latest earnings report as the laggard of the Magnificent Seven this year, and investors are looking for some key updates that could spark new momentum.

Specifically, Wall Street wants to know more about its AI ambitions and how it plans to position itself against stiff competition from other Big Tech players like Microsoft and Alphabet. AWS, retail margins, and any lingering concerns over the impact of tariffs will also be on investors’ radar.

The call with analysts is scheduled for 5 p.m. ET.

Wall Street analysts estimate Amazon will report revenue of $177.8 billion and EPS of $1.58 for Q3

Third Quarter

Net sales estimate $177.82 billion
Online stores net sales estimate $66.93 billion
Physical Stores net sales estimate $5.56 billion
Third-Party Seller Services net sales estimate $42.05 billion
Subscription Services net sales estimate $12.49 billion
Amazon Web Services net sales estimate $32.39 billion
North America net sales estimate $104.96 billion
International net sales estimate $40.77 billion
Third-party seller services net sales excluding F/X estimate
+10.8%
Subscription services net sales excluding F/X estimate +10.7%
Amazon Web Services net sales excluding F/X estimate +17.9%
EPS estimate $1.58
Operating income estimate $19.72 billion
Operating margin estimate 11.1%
North America operating margin estimate +6.98%
International operating margin estimate 4.02%
Fulfillment expense estimate $27.49 billion
Seller unit mix estimate 60.7%

Fourth Quarter

Net sales estimate $208.45 billion
Operating income estimate $23.78 billion
Capital expenditure estimate $32.33 billion

Year

Capital expenditure estimate $118.76 billion

Source: Bloomberg

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