Amazon will release its Q3 earnings report after the market closes.

• Amazon is set to report third-quarter earnings results Thursday.
• Amazon CEO Andy Jassy's cost-cutting efforts have been met with approval from Wall Street, resulting in a 23% increase in the company's shares year to date.
• Amazon executives predicted that the current quarter was difficult to forecast due to shoppers being preoccupied with the news cycle in August.

will report results for the third quarter after the bell Thursday.

Here's what analysts are expecting:

• Earnings: $1.14 per share expected by LSEG
• Revenue: $157.2 billion expected by LSEG
• Amazon Web Services: $27.5 billion, according to StreetAccount
• Advertising: $14.3 billion, according to StreetAccount

In its latest earnings report, the company cautioned that sales in the third quarter may decline due to the intense news cycle. Amazon CFO Brian Olsavsky stated in August that the company noticed shoppers were preoccupied by a mix of global events, including the Paris Olympics and the assassination attempt on former President Donald Trump at a Pennsylvania rally in July.

"At the time, Olsavsky stated that customers have limited attention, which made it challenging to accurately forecast the quarter."

The fifth consecutive quarter of revenue growth is projected to be around 10% on Wall Street, which is a slight decrease from the previous year's 12.6% increase.

Amazon CEO Andy Jassy's cost-cutting efforts have led to a significant increase in earnings growth. In 2022 and 2024, Amazon laid off more than 27,000 employees, marking the largest layoffs in the company's history. Unlike his predecessor, Jeff Bezos, Jassy has been more cautious about investing in unproven, costly projects.

Last week, the company announced that it would discontinue its Amazon Today rapid delivery service, resulting in the layoff of a small number of employees, according to CNBC.

According to StreetAccount, Amazon is predicted to report an increase of over 31% in operating income to $14.7 billion during the quarter, despite initially forecasting a range of $11.5 billion to $15 billion in August.

Jassy's campaign to control costs has been praised by Wall Street, resulting in a 23% increase in Amazon shares year to date. Meanwhile, the Nasdaq has experienced a 30% growth during the same period.

"Over the past year or two, the newer CEO has driven significant operating income and profit margins in the retail business, attracting new investors and keeping existing ones in the company, according to Brad Erickson, a senior analyst at RBC Capital Markets, who spoke on CNBC's "Squawk Box" on Wednesday."

This week, Amazon, which reports quarterly results on Thursday, joins Google parent, which posted third-quarter earnings that exceeded expectations, in a busy week of tech earnings. Additionally, Facebook and Microsoft released their earnings reports on Wednesday.

In July, Amazon held its annual Prime Day megasale during the third quarter, resulting in "record-breaking sales," though specific figures were not disclosed. Online spending in the U.S. increased by 11% year over year to a record $14.2 billion during the promotion event, according to Adobe Analytics data, which was roughly in line with expectations of $14 billion in sales.

Amazon executives are eager to provide an update on the company's plans for Project Kuiper, which aims to provide high-speed broadband internet services to people around the world through a network of 3,236 satellites in low Earth orbit. While Amazon has stated that it expects to invest more than $10 billion in the project, third-party analysts have estimated that the company may need to spend up to $20 billion to get it off the ground, according to GeekWire, citing data from market research firm Quilty Space.

According to Oppenheimer analyst Jason Helfstein, the risks associated with satellite launches and regulatory milestones are quantifiable, and management is guiding to a $10B lifetime investment. He pointed to SpaceX's Starlink as an indicator of success. The firm has an outperform rating on Amazon's stock.

Helfstein stated that there is a substantial long-term revenue opportunity with a target audience of over 1 billion people.

In October 2020, Amazon launched its first two prototype satellites into orbit with the help of a United Launch Alliance rocket. However, the company has postponed its first full-scale Kuiper mission from early 2025 to the first half of the year due to ULA prioritizing two U.S. Space Force missions.

Olsavsky typically holds a media call with the press after Amazon releases its earnings results, but the press hasn't received an invitation to attend.

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