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Benzinga

Amazon set to report Q2 results on July 30 as Bank of America lifts AWS growth forecast to 33%

AI Market Summary
Ahead of Amazon's July 30 earnings, major brokers raised revenue and operating income expectations and lifted AWS growth forecasts to ~33% YoY, citing stronger demand for Bedrock and AI workloads tied to Anthropic. Focus is shifting toward cloud growth, margins, and AI backlog rather than headline EPS. A higher 2026 capex outlook could temper near-term sentiment, but improved AI monetization expectations support a constructive setup.
Impact level
● Medium
Affected assets
NCSKAMZN2USD/USDT-4.64%
AI Insight · NCSKAMZN2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Amazon is scheduled to report 2024 second-quarter earnings on July 30. Barclays raised its revenue and operating profit expectations and lifted its AWS year-over-year growth forecast to 33% from 31%, citing rising demand for Bedrock services driven by AI customers such as Anthropic. Analysts also estimate Anthropic-related workloads could add more than $1.5 billion in sequential AWS revenue growth for the quarter, while 2026 capital spending could rise to about $210 billion.
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