Amazon Q4 earnings preview: All eyes on AWS deceleration, earnings outlook
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Amazon (NASDAQ:AMZN) is scheduled to announce Q4 earnings results on Thursday, February 2nd, after market close.
The consensus EPS Estimate is $0.17 (-99.4% Y/Y) and the consensus Revenue Estimate is $145.76B (+6.1% Y/Y).
Over the last 3 months, EPS estimates have seen 1 upward revision and 17 downward. Revenue estimates have seen 9 upward revisions and 17 downward.
Amazon's (AMZN) stock has appreciated by roughly 25% since bottoming in late 2022/early 2023, but it is still 45% below its all-time high. Shares are down around 31% in the past year.

Amazon (AMZN) announced significant layoffs in January, saying it would eliminate 18K roles as recession fears grow.
Investors will focus on the firmâs AWS business. Microsoftâs (MSFT) cautious guidance on cloud growth offered some insight into enterprise spending. MKM Partners, for example, trimmed AWS growth forecasts in light of the report from Microsoft in the week ahead of Amazon earnings.
Ahead of results, BofA Securities also noted Microsoft's comments on Azureâs growth deceleration highlights a tougher macroeconomic backdrop. Its analysts estimate greater-than-expected slowdown for AWS growth with the entire industry decelerating.
Oppenheimer too expects revenue pressure through mid-2023 from decreasing volume/usage, reduced funding for startups/SaaS/Internet companies; and other customer demand factors.
Amazon has also been stepping up investments outside of its cloud and ecommerce core business. This includes a deeper dive into healthcare via Amazon Pharmacy and investments in gaming. The company also expanded air cargo service into India.
Over the last 1 year, Amazon has beaten EPS estimates 100% of the time and has beaten revenue estimates 75% of the time.