Amazon to report Q1 earnings on April 29; options traders expect 1.55% stock move, below the 5.88% average post-earnings move of the past four quarters.

Amazon is scheduled to announce first-quarter results after market close on Wednesday, April 29. Wall Street expects EPS of $1.63 (reflecting 2.5% year-over-year growth) and revenue projected to rise about 14% to $177.27 billion.

UBS analyst Stephen Ju expects 38% AWS (Amazon Web Services) growth in 2026, well above the Street's forecast of 26%, and raised his price target to $304 from $301. He estimates the deals with OpenAI and Anthropic will add about $200 billion to the backlog.

Evercore analyst Mark Mahaney reaffirmed a Buy rating with a price target of $285 and expects Amazon to surpass Q1 revenue and EPS estimates, but Q2 2026 guidance to be mixed, with Q2 revenue expected to meet consensus but operating income in line or falling short of Street expectations.