Amazon. Com Inc. is expected to report strong earnings Thursday after its mid-year Prime Day event boosted sales, and its advertising and cloud computing units continued to grow.
The Seattle-based e-commerce giant’s success in the pandemic comes as American consumers increasingly meet their shopping, entertainment and work needs online, strengthening the power of the world’s largest tech companies.
Using its size and leverage, Amazon this year has sought to increase its presence in non-retail industries, even as federal regulators continue to surround the company and scrutinize its growth and business plans.
Amazon is expected to post second-quarter earnings after markets close on Thursday. Analysts surveyed by FactSet predict on average $ 115.4 billion in quarterly revenue and earnings per share of $ 12.28. In April, the company said it expected second-quarter sales to be between $ 110 billion and $ 116 billion and operating income between $ 4.5 billion and $ 8 billion.
The retailer has been exceeding financial expectations since the start of the pandemic, which brought a flood of shoppers and new growth to the company’s e-commerce operations that it has been able to sustain. Still, analysts predict that Amazon’s tremendous growth will slow, as the economy reopens from the height of the pandemic, when it saw profits nearly double.
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The entry Amazon’s Profit-Run about to continue was first published in Es de Latino News.