Copy link
lighning bolt icon
An icon in the shape of a lightning bolt.
Impact Link
Save Saved
Read in app
This story is available exclusively to Business Insider
subscribers. Become an Insider
and start reading now. Have an account? Log in.
Amazon is on deck to report earnings on Thursday.
Wall Street is expecting sales to clock in at $162 billion, with EPS of $1.33.
Analysts will be listening for updates on AI, AWS, and the impact of tariffs on e-commerce.
Online retail giant Amazon is next in line among the mega-cap Mag Seven to report earnings.
Along with Apple, the tech titan will report results for the last quarter after the closing bell on Thursday.
Wall Street is feeling bullish heading into the report, with focus on AI and the AWS segment, as well as any further details about how sellers on the platform are navigating tariffs.
UBS calls the company the “most coiled” Big Tech name, and sees it poised to rally after the stock was revalued during the tariff sell-off this spring.
Amazon stock is up 5% year-to-date through Wednesday’s close.
The results will be published shortly after the closing bell, with the analyst call scheduled for 5 p.m. ET.
2025-07-31T15:30:57Z
Investors will be listening for Amazon’s latest tariff plans
Amazon’s latest plans to deal with tariffs, and potentially raise prices, as so many other companies have done, are likely to be a key theme on the earnings call.
Some Amazon customers loaded up earlier this year on items that could get hit with President Donald Trump’s tariffs, CEO Andy Jassy said in May. He said Amazon’s product selection and ability to source from sellers in China give it an edge over other retailers, especially when it comes to offering low prices.
Jassy also said then that it wasn’t clear exactly what effect tariffs would have on the prices of products sold on Amazon. The company’s guidance for the second quarter was below what analysts were hoping for, in part because Amazon was waiting to see what would happen with tariffs.
Three months later, on the eve of another trade negotiation deadline, investors will be listening for an update.
2025-07-31T15:00:52Z
UBS says Amazon is the “most coiled” Big Tech name
Amazon and FedEx delivery trucks
Jeffrey Greenberg/Universal Images Group via Getty Images
Amazon is shaping up to be one of the most undervalued Magnificent Seven companies, UBS analyst Stephen Ju said.
The stock’s valuation was deeply revised downwards at the height of tariff volatility earlier this year, but it’s poised for a comeback as trade deals solidify.
“We believe Amazon to be ‘most-coiled’ among our coverage given the more extensive investments across e-commerce, AWS, content/advertising, and Kuiper,” Ju wrote.
UBS expects AI spending to continue rising. Ju is raising his 2025 capex forecast for Amazon from $107 billion to $112 billion, citing improving cloud infrastructure sentiment.
The bank reiterated its “Buy” rating and raised its price target from $249 to $271, implying about 18% upside.
2025-07-31T14:00:30Z
Amazon earnings estimate: Wall Street predicts sales of $162 billion, EPS of $1.33
Second quarter
Net sales estimate $162.15 billionEPS estimate $1.33Online stores net sales estimate $59.13 billionPhysical stores net sales estimate $5.49 billionThird-Party Seller Services net sales estimate $38.97 billionSubscription Services net sales estimate $11.92 billionAWS net sales estimate $30.77 billionNorth America net sales estimate $97.36 billionInternational net sales estimate $34.21 billionThird-party seller services net sales excluding F/X estimate +7.49%Subscription services net sales excluding F/X estimate +9.68%Amazon Web Services net sales excluding F/X estimate +17%Operating income estimate $16.97 billionOperating margin estimate 10.4%North America operating margin estimate +5.78%International operating margin estimate 1.87%Fulfillment expense estimate $25.74 billionSeller unit mix estimate 61.5%
Third quarter
Net sales estimate $173.25 billionOperating income estimate $19.41 billionCapital expenditure estimate $26.44 billion
