--- title: "Amazon Q3 Earnings Preview: All Eyes on AWS After Posting Best Growth in Years in Q2" type: "News" locale: "en" url: "https://longbridge.com/en/news/303425412.md" description: "Amazon is set to report Q3 earnings, with analysts expecting revenue of $202.28 billion and EPS of $1.96. AWS growth remains the primary focus, having posted record 37% YoY growth in Q2. Analysts maintain positive ratings, citing strong AWS margins and AI segment performance as key upside drivers, while monitoring e-commerce trends ahead of the holiday season." datetime: "2026-10-28T16:07:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/303425412.md) - [en](https://longbridge.com/en/news/303425412.md) - [zh-HK](https://longbridge.com/zh-HK/news/303425412.md) generator: "portal-rs" --- # Amazon Q3 Earnings Preview: All Eyes on AWS After Posting Best Growth in Years in Q2 E-commerce and cloud giant **Amazon.com Inc** (NASDAQ:AMZN) looks to keep stock momentum going with third-quarter financials reported Thursday after market close. Here are the earnings estimates, what analysts are saying and the key items to watch. ## Amazon.com Q3 Earnings Estimates Analysts expect Amazon.com to report third-quarter revenue of $202.28 billion, up from $180.17 billion in last year’s third quarter, according to data from Benzinga Pro. The company has beaten analyst revenue estimates in eight straight quarters and in nine of its last 10 quarters overall. Analysts expect Amazon.com to report third-quarter earnings per share of $1.96, up from $1.95 last year. The company has beaten analyst estimates for earnings per share in two straight quarters and in nine of the last 10 quarters overall. **Read Also: Amazon's Nvidia Chips Are Sitting in Warehouses Without Power as AI Spending Soars, Business Insider Reports** ## What Analysts Are Saying Bank of America Securities analyst Justin Post sees the AWS segment driving upside for Amazon.com in the third quarter. The analyst maintained a Buy rating with a $320 price target in a recent investor note. Post expects Amazon.com to report AWS margins of 39%, ahead of Street estimates of 34.7%. Other key items for the analyst to watch are the company’s backlog, custom silicon and Bedrock. The analyst also sees boosted holiday hiring and AWS growth as potential upside drivers. Here are other analyst ratings on Amazon.com stock and their price targets: - UBS: Maintained Buy rating, raised price target from $318 to $348 - Morgan Stanley: Maintained Overweight rating, raised price target from $335 to $350 - Wells Fargo: Maintained Overweight rating, lowered price target from $338 to $329 - Cantor Fitzgerald: Maintained Overweight rating, lowered price target from $320 to $310 ## Key Items to Watch AWS growth will be the biggest focus for investors and analysts, as the segment has posted record quarters recently. In the second quarter, AWS revenue was $42.2 billion, up 37% year-over-year. This represented the fastest growth for the AWS segment in 18 quarters. AWS growth easily outpaced the North America and International segments, which grew 16% and 15% year over year, respectively. The company’s AI and Chips segments will also be closely watched with Amazon previously saying both segments had run rates of more than $25 billion in the second quarter. While it may not excite analysts and investors as much, Amazon’s e-commerce business is also heading into the holiday season. Amazon could offer an early look at 2026 holiday expectations amid higher gas prices and lingering macroeconomic uncertainty. ## Amazon Stock Price Action Amazon.com stock is down 0.4% to $252.20 on Wednesday versus a 52-week trading range of $196.00 to $287.16. Amazon stock is up 11.4% year-to-date, with shares down around 12% from all-time highs set in August. **Read Also: Amazon, Built On Keeping Customers Inside Homes, Now Wants To Send Audiences To Movie Theaters: 'A Reason To Leave The House'** *Image via Shutterstock* ### Related Stocks - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [AMAA.US](https://longbridge.com/en/quote/AMAA.US.md) - [AMZD.US](https://longbridge.com/en/quote/AMZD.US.md) - [AMZG.US](https://longbridge.com/en/quote/AMZG.US.md) - [AMZO.US](https://longbridge.com/en/quote/AMZO.US.md) - [AMZP.US](https://longbridge.com/en/quote/AMZP.US.md) - [AMZU.US](https://longbridge.com/en/quote/AMZU.US.md) - [AMZW.US](https://longbridge.com/en/quote/AMZW.US.md) - [AMZY.US](https://longbridge.com/en/quote/AMZY.US.md) - [AMZZ.US](https://longbridge.com/en/quote/AMZZ.US.md) - [AZYY.US](https://longbridge.com/en/quote/AZYY.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) ## Related News & Research - [Amazon Q3 Earnings Preview: AWS Growth Expected to Rise to 41%, Wall Street Top Price Target $400](https://longbridge.com/en/news/303221221.md) - [I'd Buy Half a Position in Amazon Stock Before Its Oct. 29 Report -- and Half After](https://longbridge.com/en/news/303054275.md) - [Amazon.com, Inc. $AMZN Stock Sold by Cohen Klingenstein LLC](https://longbridge.com/en/news/302980467.md) - [VCs will make billions on Anthropic’s IPO, but Amazon is set to make much (much) more](https://longbridge.com/en/news/303307575.md) - [Cyndeo Wealth Partners LLC Sells 28,961 Shares of Amazon.com, Inc. $AMZN](https://longbridge.com/en/news/303185666.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**