Amazon is finally ready to announce its quarter two earnings and to say that people have been anticipating the results is a massive understatement.
This is because some of the biggest tech companies in the world have recently reported numbers that were lower than expected, which leads people to wonder whether or not Amazon will follow suit.
Indeed, in Meta Platforms’ recently announced fiscals report, we learned that the tech giant suffered a year-over-year revenue drop—the first time ever in their company’s history. Meanwhile, both Alphabet (Google parent company) and Microsoft also reported earnings that didn’t live up to what financial analysts predicted.
So with all of these massive tech conglomerates struggling, many are wondering how Amazon will fare in this mid-year assessment.
Bloomberg initially predicted that Amazon will have a strong year-over-year surge, from $113.08 billion to $119.53 billion. However, if Amazon stays consistent with the recent sliding trend of other tech companies, this prediction will be super off-base.
Due to an impending possible recession, it may be the case that people aren’t spending as much online, which could result in a poor quarter for Amazon. In any case, analysts are awaiting the results with eager and pricked ears.