Amazon Earnings Forecast Soars on Strong Q2 Performance

Erste Group Bank has increased its earnings per share forecast for Amazon.com to $10.50, up from the previous estimate of $10.36. This new prediction surpasses the current consensus estimate of $8.05. The e-commerce giant reported a quarterly profit of $5.75 per share, exceeding analysts' expectations of $1.82.

The company's net margin stands at 17.44%, and its return on equity is 18.00%. Amazon's revenue for the quarter reached $200.61 billion, marking a 19.6% year-over-year increase.

Several analysts have recently re-affirmed their 'overweight' rating on Amazon.com, with price targets ranging from $330 to $390 per share. The company's institutional investors and hedge funds own approximately 72.20% of its stock.