Amazon Earnings Preview: Fiscal Q2 2025

  • According to Visible Alpha consensus, Amazon's total revenues expected for Q2 remained stable at $162.2 billion, driven by continued resilience in Amazon's online retail and AWS businesses. The tariff issues continue to present challenges to the outlook. AWS margin came in at 39% last quarter, and for Q2, it is expected to drop down to 35% quarter-over-quarter.