Amazon Q3 results: What Wall Street expects

Amazon (AMZN+1.02%) is expected to report third-quarter results on Thursday Expectations slightly missed in the last quarter.

The retail and cloud giant is expected to report revenue of $157.3 billion for the quarter ending in September, according to analyst estimates from FactSet (FDS-1.33%). Amazon is expected to report earnings per share (EPS) of $1.14. Last quarter, the company issued lower-than-expected third-quarter guidance, setting revenue expectations between $154 billion and $158.5 billion — or between 8% and 11% year-over-year growth.

Shares of Amazon rose 0.3% to $188.39 at Monday's close. The company's shares are up about 25.6% so far this year. After missing Wall Street expectations last quarter, shares of the company fell in after-hours trading.

In the second quarter, Amazon reported sales of $148 billion — up 10% from a year ago, but still below expectations of $148.7 billion, according to FactSet. However, the company reported second-quarter net income of $13.5 billion, above expectations of $11 billion.

Amazon Web Services, Amazon's cloud computing division, reported revenue of $26.3 billion, up 19% from a year earlier.

“We continue to make progress on a number of dimensions, but perhaps no greater than the continued reacceleration of AWS growth,” Amazon President and CEO Andy Jassy said in a statement on second-quarter results.

Earlier this month Amazon announced that it had three contracts signed “To support the development of nuclear energy projects.” The agreements include the construction of “several” small modular reactors (SMRs). These “advanced” nuclear reactors would have “a smaller physical footprint, allowing them to be built closer to the power grid,” Amazon said. And compared to traditional reactors, SMRs can come online faster because they take less time to build.

“Nuclear power is a secure source of carbon-free energy that can help power our operations and meet the growing needs of our customers. At the same time, it helps us move closer to our Climate Pledge promise to be carbon neutral across all of our operations by 2040,” Matt Garman, CEO of Amazon Web Services, said in a statement.

Garman said investing in nuclear energy is “an important area of ​​investment for Amazon” because it is “both carbon-free and scalable.”