Amazon (AMZN) Q1 earnings report 2024 [Video]

Amazon will report first-quarter earnings after the bell on Tuesday.

Here’s what analysts are expecting according to LSEG:

• Earnings per share: 83 cents
• Revenue: $142.5 billion

Wall Street is also watching several other numbers in the report:

• Amazon Web Services: $24.5 billion in revenue, according to StreetAccount
• Advertising: $11.7 billion in revenue, according to StreetAccount

Analysts are expecting Amazon to report revenue growth of 12%, which would mark a fourth straight quarter of expansion in the low double digits and a slight acceleration from a year earlier.

Earnings are growing much faster, thanks to widespread cost-cutting, tweaks to Amazon’s fulfillment operations and the stabilizing of cloud spending. Operating income of $11.2 billion is expected, according to StreetAccount, up over 130% from a year earlier.

Under CEO Andy Jassy, Amazon has become more disciplined in its spending, while growing profitable services like advertising, cloud computing, Prime memberships and its third-party marketplace.

The company has laid off more than 27,000 employees since late 2022, with the cuts bleeding into …