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Amazon beat revenue and earnings estimates last quarter and is expected to sustain strong 12% revenue growth this quarter, reassuring investors ahead of Thursday’s earnings report.
Amazon's online store revenue grew 11% YoY with stable prices and increased market share. Wedbush raised its price target to $280 and maintained an Outperform rating ahead of upcoming earnings.
Amazon shares jumped 4.29%, while Fox and Netflix posted smaller gains, signaling bullish momentum in media and e-commerce names.
Amazon beat Q2 revenue ($167.7B, +13.3% YoY), EPS and operating income estimates, while its stock slipped about 4% post-report amid strong results across online retail peers.