Amazon reports its September-quarter results after the US market closes on Thursday, and the stakes have risen sharply in the last 24 hours. The company’s earnings call begins at 2 pm Pacific time, or 2:30 am IST on Friday, so the verdict will be in well before Dalal Street opens.
Big Tech’s earnings season has sent mixed signals so far. Alphabet shares fell 10% in US premarket trade after the Google parent reported negative free cash flow of $9.07 billion for the quarter, far worse than analysts had expected, while keeping its full-year capital expenditure guidance at $195 billion to $205 billion. Its search advertising revenue rose 12% to $63.35 billion but missed estimates. Microsoft, by contrast, gained about 3% after its capital spending rose 30% to $45.2 billion, short of the $50.67 billion analysts had forecast. Nasdaq-100 futures were down more than 1%.
