What You Need To Know Ahead of Amazon’s Earnings Report Tuesday [Video]

Amazon (AMZN) is set to report first-quarter earnings after markets close Tuesday, days after announcing a new grocery delivery subscription service and expansions to its artificial intelligence (AI) tools.

Analysts expect Amazon will significantly increase its revenue and profit year-over-year, with net income projected to rise to $8.98 billion, or 84 cents per share, more than double the $3.17 billion and 31 cents per share it reported in the first quarter of 2023, according to consensus estimated compiled by Visible Alpha. Total net sales of $142.59 billion are predicted, up from $127.36 billion a year ago.

The e-commerce and web hosting giant announced a pair of initiatives a week before the earnings report, a grocery delivery subscription service and new tools in its Amazon Bedrock product, which offers building blocks for customers to make personalized AI tools.

Bank of America Securities analysts wrote in a recent note that the subscription service could compete …