Amazon (NASDAQ: AMZN) is about to give investors a much clearer picture of its business. The e-commerce and web services giant will announce second-quarter earnings results in early August. The report is likely to show gathering momentum on sales and profits, and that's a big reason why the stock soared so much in 2023.
Let's take a look at what investors might expect to hear from Amazon's management team on Aug. 3, along with a few reasons to consider buying the stock – and one reason to be cautious.
Amazon's Q1 report (released in late April) contained mixed news on its sprawling business empire. On the downside, product sales were flat in the e-commerce segment as consumers continued to pull back on discretionary spending and on the digital sales channel in general. Yet that modest result still indicated Amazon performed well above many of its peers. Costco Wholesale has been reporting declining e-commerce sales for several quarters, for example, including a 10% year-over-year drop in fiscal 2023's Q3 (ended May 7).
Source Fool.com