亚马逊将于周四盘后公布第三季度财报。根据LSEG的数据，分析师预期如下：每股收益：1.96美元（调整后）营收：
Amazon is slated to report third-quarter earnings results after the bell on Thursday. Here's what analysts are expecting, according to LSEG: Earnings per $1.96 adjusted Revenue:
2023.1亿美元华尔街还在关注其他关键营收数据：亚马逊云服务（AWS）：
$202.31 billion Wall Street is also looking at other key revenue numbers: Amazon Web Services:
454.8亿美元，据StreetAccount报道广告：投资者预计亚马逊云业务将出现强劲增长。据StreetAccount报道，AWS销售额预计增长38%，而上一季度增长37%。这将标志着AWS营收连续第五个季度加速增长。
$45.48 billion, according to StreetAccount Advertising: Investors expect to see robust growth in Amazon's cloud segment. AWS sales are predicted to grow 38%, according to StreetAccount, compared with a 37% gain last quarter. It would mark AWS's fifth consecutive quarter of revenue acceleration.
这种势头预计不会放缓。首席执行官安迪·贾西表示，亚马逊的云容量明年“几乎已售罄”，并且已为2028年获得大量承诺。
That momentum isn't expected to slow down. CEO Andy Jassy said Amazon's cloud capacity is "largely sold out" for next year, and it's received significant commitments for 2028 as well.
“我们总是会留出一定数量用于按需服务以及我们的推理服务Bedrock或EC2，但大块的容量几乎都已售罄，”贾西上周在安德里森·霍洛威茨播客节目中表示。“28年的大部分容量已售罄。”华尔街将聆听亚马逊高管关于AI支出的任何评论。
"We always leave a certain amount for on demand and our inference service Bedrock or EC2, but largely sold out all the big chunks," Jassy said on an Andreessen Horowitz podcast last week. "A good chunk of '28 is sold out." Wall Street will be listening for any commentary from Amazon executives around AI spending.
上一季度，该公司将2026年的资本支出预测上调至2200亿美元，此前为2000亿美元。StreetAccount调查的分析师预计，亚马逊的资本支出在2027年将小幅上升至超过2800亿美元。
Last quarter, the company hiked its capital expenditure forecast for 2026 to $220 billion, up from $200 billion. Analysts surveyed by StreetAccount expect Amazon's capex to creep up more than $280 billion in 2027. AI build-out hits snag as Google and Microsoft put off raising capex forecasts Alphabet earnings miss reflects first real sign that AI is taking a bite out of search As Waymo expands overseas, it remains a niche cash-burning business Hands-on with Apple’s first touchscreen laptop: Touch is totally optional Amazon has rushed to bring more data centers online to meet surging demand for AI computing power.
亚马逊已加快推进更多数据中心上线，以满足对人工智能算力不断增长的需求。激进的支出侵蚀了该公司的现金流。
The aggressive spending has eaten into the company's cash flow In July, the company reported negative free cash flow of $7.6 billion for the trailing twelve months, compared with positive free cash flow of $18.2 billion one year earlier.
7月，该公司报告称，过去12个月的自由现金流为负76亿美元，而一年前为正182亿美元。根据FactSet的估计，预计本季度将出现现金流为负，流出99亿美元。
It's expected to be cash flow negative in the current quarter, with an outflow of $9.9 billion, according to FactSet estimates.
Alphabet和Meta在最新的季度财报中均报告了负自由现金流。
Alphabet and Meta both reported negative free cash flow in their latest quarterly earnings reports.
微软周三表示，其财政第一季度的自由现金流有所下降，但现金流仍保持正值，与其超大规模云服务商同行不同。
Microsoft said Wednesday its free cash flow declined in the fiscal first quarter, but its cash flow remained positive, unlike its hyperscaler peers.
随着亚马逊在人工智能上投入更多，它正在稳步削减员工人数。自2022年以来，该公司已裁员超过5.7万人，约占其企业员工总数的16%。今年，裁员通过较小规模的多轮裁员持续进行。
As Amazon shells out more on AI, it's steadily trimmed its headcount. The company has laid off more than 57,000 staffers since 2022, or roughly 16% of its corporate workforce. The job cuts have continued on a rolling basis this year via smaller rounds of layoffs.
亚马逊周三在其设备软件和服务团队裁掉了一些员工，以“更高效地运营并更好地与我们的产品路线图保持一致”，一位亚马逊发言人向CNBC证实。该公司表示，此次裁员导致少于250名员工被解雇。
The company on Wednesday laid off some staffers in its device software and services team to "operate more efficiently and better align with our product roadsmap," an Amazon spokesperson confirmed to CNBC. Fewer than 250 employees were let go as a result of the job cuts, the company said.
第三季度，亚马逊因阻止Meta Muse人工智能代理在其平台上购物而登上新闻头条。该公司表示，未提前获悉Muse将访问其网店，且从未同意参与。
During the third quarter, Amazon made headlines when it blocked Meta Muse AI agent from shopping on its platform. The company said it was not given advance notice that Muse would access its webstore, and it never agreed to participate.
这一举措符合亚马逊对第三方代理访问其网站的总体立场。亚马逊已封锁数十个外部代理，包括Perplexity，该公司去年起诉Perplexity，指控这家初创公司隐瞒其AI购物机器人。
The move is in line with Amazon's broader stance on third-party agents accessing its site. Amazon has blocked dozens of external agents, including Perplexity which the company sued last year over allegations that the startup concealed its AI shopping bots.
在封锁第三方代理访问其网站的同时，亚马逊越来越多地投资于自身工具。5月，亚马逊将其Rufus AI购物聊天机器人重新命名为Alexa for Shopping。
While it locks down its site from third-party agents, Amazon has increasingly invested in its own tools. In May, Amazon rebranded its Rufus AI shopping chatbot to Alexa for Shopping.
周四，亚马逊表示，超过4亿购物者使用过该助手，使用Alexa for Shopping代理功能的人数“自年初以来增长了八倍多”。该公司表示，该工具现在拥有超过100项购物相关功能，包括创建礼品清单、管理订阅和处理账户变更。
On Thursday, Amazon said more than 400 million shoppers have used the assistant, and the number of people using Alexa for Shopping's agentic features has "grown more than eight times since the start of the year." The tool now has more than 100 shopping-related capabilities, the company said, including the ability to build gift lists, manage subscriptions and handle account changes.
随着Meta和OpenAI等竞争对手深入推进AI购物工具，分析人士表示，这些服务可能对亚马逊的数字广告业务构成风险。用户正转向Muse和ChatGPT等服务来研究产品，或者在某些情况下，将购买交给AI代理，这意味着他们绕过了亚马逊网站上的赞助广告。
As rivals Meta and OpenAI push deeper into AI shopping tools, analysts have said the services could pose a risk to Amazon's digital advertising business. Users are turning to services like Muse and ChatGPT to research products, or in some cases, handing off purchases to AI agents, which means they're bypassing sponsored ads on Amazon's site.
德意志银行分析师上周在一份报告中写道：“我们预计亚马逊最终将开发自己的代理购物产品，其专有的购买数据和电子商务基础设施使其处于有利地位。关键问题是，亚马逊是否能够在保持有吸引力的货币化条件下容纳第三方代理。”
"We expect Amazon to eventually develop its own agentic shopping offering, with its proprietary purchase data and commerce infrastructure positioning it well," Deutsche Bank analysts wrote in a note last week. "The key question is whether Amazon can accommodate third-party agents on terms that preserve attractive monetization."