Q3 report from Amazon (AMZN) under the new CEO

Amazon the online retail behemoth, which has a market value of $1.68 trillion (behind Apple, Microsoft, and Alphabet), is set to release third-quarter earnings after the market close on Thursday, Oct. 28. Zacks expects a return per share of $8.72, down from $12.37 in the previous quarter. Sales are predicted to reach $111.85 billion, up from $96.15 billion in the previous quarter.

The internet shopping sector has continued to develop since the Covid-19 outbreak, but with the lessening of lockdown measures, consumers appear to be returning to their former habits. This tendency may be observed in Amazon’s revenue, which was lower than experts projected in the most recent quarter. As a result, the business’s stock has declined more than 7% since its Q2 report, with the company predicting that the sluggish growth will continue over the next several quarters in comparison to last year’s pandemic time.

In addition to retail, the Covid-19 epidemic has benefited the cloud sector, with Amazon Web Services (AWS), Amazon’s cloud subsidiary, making $14.8 billion in revenue and selling 13% of $113.08 billion in total sales in the second quarter.Arctic Wolf Networks, Sun Life, and a partnership with Wyndham Hotels & Resorts to build services for 21 hotel brands are among the new AWS users, all of whom are anticipated to contribute to cloud income. AWS revenue is predicted to reach $15.5 billion in Q3, according to Zacks, while the Amazon Prime streaming segment, which operates in 22 countries, produced $7.9 billion in…