Wall Street eyes spending as Amazon reports third-quarter results
Amazon (AMZN) is scheduled to release third-quarter earnings after the bell this afternoon. The third quarter has historically been a big investment quarter for Amazon, so analysts will be keeping a close eye on spending. There’s concern that Amazon’s decision to cut costs in an effort to compete with rival Walmart could impact operating income. A key focus for investors will be Amazon’s forecast for its holiday quarter. According to Bloomberg, analysts are expecting GAAP earnings per share of 3 cents on revenue of $42.19 billion. Amazon’s stock has jumped about 30% so far this year.
Alphabet earnings: What to watch
Google’s parent company Alphabet (GOOGL) will post third-quarter earnings after the bell this afternoon. JPMorgan expects the tech giant to report results above expectations, driven by strength in mobile search and YouTube. Ad revenue will also be an important focal point for Wall Street. Market research firm eMarketer estimates Google will generate $49.72 billion in mobile internet ad revenue in 2017, accounting for 35% of market share. According to Bloomberg estimates, analysts are expecting a profit of $8.34 and sales of $21.95 billion.
Twitter soars on possibility of first-ever GAAP profitable quarter
Twitter (TWTR) shares are soaring after the social media platform announced third quarter results ahead of the bell. The social media platform posted adjusted earnings of 10 cents a share on revenue of $590 million, and said its total monthly active users (MAU) rose to 330 million. On a GAAP basis, Twitter reported a loss of 3 cents. The stock was last trading up 14.1% at $19.58 a share.