Equity Profile

AMZN

Amazon.com, Inc.

Consumer DiscretionaryBroadline Retail$2.6T

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Amazon.com, Inc. (AMZN) is a leading global retailer that offers a wide range of products and services, including e-commerce, cloud computing, and digital streaming....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors will closely monitor.

N/A

Revenue Growth

Revenue growth reflects Amazon's ability to expand its market share and attract more customers, which is crucial for its long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AMZN Q2-2026 Earnings Preview

Context

Company Snapshot

Amazon.com, Inc. (AMZN) is a leading global retailer that offers a wide range of products and services, including e-commerce, cloud computing, and digital streaming. As a major player in the consumer discretionary sector, Amazon's performance is closely tied to consumer spending trends and technological advancements.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+25.97%

Avg Stock Reaction

-0.66%

Last Quarter Recap

In Q1 2026, Amazon reported an EPS of $2.78, significantly beating estimates by 74.29%. The stock reacted positively, gaining 1.29% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as Amazon has a strong history of beating EPS estimates, but concerns about revenue growth persist.

Bull Case

If Amazon continues to outperform on EPS and shows strong revenue growth, it could signal robust demand for its services and products, leading to a positive stock reaction.

Bear Case

Conversely, if revenue growth disappoints or if there are signs of slowing consumer spending, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth for AWS this quarter?

AWS revenue growth is critical for Amazon's profitability, and any slowdown could raise concerns about the company's overall performance.

How is Amazon addressing potential challenges in consumer spending?

With economic uncertainties, understanding Amazon's strategies to maintain consumer demand will be key for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Amazon's ability to maintain strong AWS growth despite economic headwinds, as the company's diverse revenue streams provide resilience.

Supporting Evidence

Amazon's history of beating EPS estimates suggests strong underlying performance.

Options pricing indicates a higher expected move than historical averages, reflecting potential for positive surprises.

Key Risk

If AWS revenue growth comes in below 20%, it could challenge the bullish narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Amazon's ability to sustain its growth in a competitive retail landscape and amid changing consumer behavior.

Bull Confirmed If

AWS revenue growth of 25% year-over-year or better would confirm the bullish outlook.

Bear Confirmed If

Any AWS revenue growth below 15% could signal a bearish trend.

Pre-Earnings Positioning

Options Market

Implied Move

±6.18%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±6.2% while AMZN has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

21.6%

Calls (23.4M)P/C Ratio: 0.36Puts (7.4M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

This setup has occurred 30 times across Consumer Discretionary in the last 2 years. 13 of 21 (62%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.9%, with a raw directional average of +2.2% (modestly positive historical bias).

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$12.9M

51,500 sh

2 insiders

Net

$12.9M

Net selling

Most Active Insiders· 2 open-market trades

President and CEOJassy Andrew R
$7.9M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Amazon beats expectations, history suggests a potential stock increase of around 2.5%, confirming strong demand and growth.

In-Line / Cautious

An in-line report may lead to muted reactions as investors await further guidance from management.

Miss

If Amazon misses expectations, the stock could drop by around 4.4%, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

11 buys·8 sells

Members

House + Senate

Est. Notional

$1.7M–$6.7M

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
7

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on AWS revenue growth and any new service launches.
2Insights into consumer spending trends and how they are affecting sales.
3Management's outlook on future growth and potential challenges.
4Details on cost management and efficiency improvements.
5Any commentary on competition and market share.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Amazon.com, Inc. (AMZN) is a leading global retailer that offers a wide range of products and services, including e-commerce, cloud computing, and digital streaming....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors will closely monitor.

N/A

Revenue Growth

Revenue growth reflects Amazon's ability to expand its market share and attract more customers, which is crucial for its long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AMZN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+25.97%

Avg Stock Reaction

-0.66%

Last Quarter Recap

In Q1 2026, Amazon reported an EPS of $2.78, significantly beating estimates by 74.29%. The stock reacted positively, gaining 1.29% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as Amazon has a strong history of beating EPS estimates, but concerns about revenue growth persist.

Bull Case

If Amazon continues to outperform on EPS and shows strong revenue growth, it could signal robust demand for its services and products, leading to a positive stock reaction.

Bear Case

Conversely, if revenue growth disappoints or if there are signs of slowing consumer spending, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth for AWS this quarter?

AWS revenue growth is critical for Amazon's profitability, and any slowdown could raise concerns about the company's overall performance.

How is Amazon addressing potential challenges in consumer spending?

With economic uncertainties, understanding Amazon's strategies to maintain consumer demand will be key for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Amazon's ability to maintain strong AWS growth despite economic headwinds, as the company's diverse revenue streams provide resilience.

Supporting Evidence

Amazon's history of beating EPS estimates suggests strong underlying performance.

Options pricing indicates a higher expected move than historical averages, reflecting potential for positive surprises.

Key Risk

If AWS revenue growth comes in below 20%, it could challenge the bullish narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Amazon's ability to sustain its growth in a competitive retail landscape and amid changing consumer behavior.

Bull Confirmed If

AWS revenue growth of 25% year-over-year or better would confirm the bullish outlook.

Bear Confirmed If

Any AWS revenue growth below 15% could signal a bearish trend.

Pre-Earnings Positioning

Options Market

Implied Move

±6.18%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±6.2% while AMZN has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

21.6%

Calls (23.4M)P/C Ratio: 0.36Puts (7.4M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$12.9M

51,500 sh

2 insiders

Net

$12.9M

Net selling

Most Active Insiders· 2 open-market trades

President and CEOJassy Andrew R
$7.9M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Amazon beats expectations, history suggests a potential stock increase of around 2.5%, confirming strong demand and growth.

In-Line / Cautious

An in-line report may lead to muted reactions as investors await further guidance from management.

Miss

If Amazon misses expectations, the stock could drop by around 4.4%, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

11 buys·8 sells

Members

House + Senate

Est. Notional

$1.7M–$6.7M

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
7

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on AWS revenue growth and any new service launches.
2Insights into consumer spending trends and how they are affecting sales.
3Management's outlook on future growth and potential challenges.
4Details on cost management and efficiency improvements.
5Any commentary on competition and market share.