Amazon (AMZN) is set to report Q3 results today after the close with a call to follow at 5:30pm ET.

The CapitalIQ consensus looks for a jump (+74% yr/yr) in non-GAAP EPS to $7.36 from $4.23 a year ago. Revenue is expected to grow 32% yr/yr to $92.56 bln, current guidance is $87-93 bln. AMZN typically guides for revenue and operating income for the next quarter.

Operating income is a metric that's closely watched. AMZN has previously guided to Q3 operating income of $2-5 bln while current consensus is at $1.13 bln. Q3 operating income consensus is $4.70 bln.

This should be another interesting quarter for AMZN as many see the company as among the biggest winners from the pandemic as more people are shopping online due to shelter-in-place orders.

TECHS

Finally, the stock has been on an absolute tear as it has roughly doubled from its mid-March lows as investors are betting that AMZN's business is booming with all the lockdowns in place.

The huge upside quarters from Fedex (FDX) in mid-September and UPS (UPS) this week have raised expectations for AMZN today.

That said, it’s been more in a sideways trading range since early July. We'll see if this report gets the stock moving higher again.

Amazon beats by $5.01, beats on revs; mid-point of Q4 revenue guidance is above consensus

Reports Q3 (Sep) earnings of $12.37 per share, $5.01 better than the S&P Capital IQ Consensus of $7.36; revenues rose 37.4% year/year to $96.14 bln vs the $92.56 bln S&P Capital IQ Consensus.

  • Operating income rose 96% yr/yr to $6.19 bln vs prior guidance of $2-5 bln while current consensus is at $4.70 bln.

  • AWS segment sales rose 29% yr/yr to $11.60 bln while Q3 AWS operating margin was 30.5% vs 25.1% a year ago.

  • Co issues upside guidance for Q4, sees Q4 revs of 112-121 bln vs. $112.4 bln S&P Capital IQ Consensus.

    • Co guides to Q4 operating income of $1.0-4.50 bln vs consensus of $5.69 bln.

"We're seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season."

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