Amazon (AMZN) is set to report Q4 results today after the close with a call at 5:30pm ET.

The CapitalIQ consensus calls for a 76% yr/yr decrease in non-GAAP EPS to $3.44 from $14.09 a year ago. Revenue is expected to grow 9.6% yr/yr to $137.59 bln, current guidance is $130-140 bln.

AMZN typically guides for revenue and operating income but not EPS.

AMZN guided to Q4 operating income of $0-3 bln. Q4 operating income consensus is $2.57 bln while Q1 consensus is $6.35 bln.

Last quarter, Amazon reported a rare, yet sizeable Q3 earnings miss and guided Q4 revs below consensus.

AMZN experienced about $1 bln of inflationary pressures in Q3, primarily from wage increases. It will likely be worse in Q4.

Investors will watch watch to see whether Amazon decides to announce a Prime subscription price increase. This is something some are speculating.

AWS had a terrific quarter in Q3. Revs jumped 39% yr/yr to $16.1 bln. That was an acceleration from +37% growth in Q2 , +32% in Q1 and +28% in Q4.

TECHS:

AMZN appears to be hanging on for dear life with no real support below to the 2500 level at least.

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