Amazon Second Quarter Earnings Preview

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Amazon will report second-quarter earnings on July 30 after the closing bell. Analysts expect a strong performance as the coronavirus lockdown boosted online shopping and the cloud services. Amazon stock gained over 27% in the second quarter as the demand for online services skyrocketed during the lockdown. Now the share is 0.38% higher at 3,011. That is 63% higher since the beginning of the year. 

Amazon 2Q Earnings Preview 

Analysts expect the company to deliver $1.75 earnings per share, the highest forecast stands at $3.64, while the lower estimates are for loses of -$0.4. The second quarter 2019 earnings came in at $5.22. The revenues, according to the company’s guidance, is expected between $75 to $81 billion. The consensus sees revenues at $81.52 billion with the higher estimate at $91.06 billion. Amazon guided for an operating loss of $1.5 billion to operating earnings of 1.5 billion. The guidance also points to 4 billion of coronavirus related costs. 

Amazon market capitalization has reached $1.52 trillion, and the enterprise value stands at 1.54 trillion. The P/E ratio is at 145.97, while the forward P/E ratio is at 142.86. The PEG ratio is 3.29, while the Price/Sales is at 5.21. 

In the first quarter, Amazon reported revenues of 75.45 billion, while the earnings per share came at 5.01, 29% lower from the previous year first quarter.   

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Amazon Share Daily Technical Analysis

Amazon trading at 3,029, keeping the bullish momentum that started since the March coronavirus sell-off lows. The technical picture looks bright, and higher levels are on the cards. The daily chart doesn’t provide any warning signal, but a break below the ascending trend channel would harm the bullish momentum.  

The earnings report might be the catalyst for a break higher. The first target for bulls is at 3,096 the high from July 27. More offers await at 3,237 the top from July 21, which guards the all-time highs at 3,334.  

On the other, bears looking for a break below the rising trend channel but first must break below 3,000 the low from yesterday’s trading session. A move below 2,898 might accelerate the correction towards 2,759 the 50-day moving average.  

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Amazon Daily Chart

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