Amazon and Intel Report October 29 With Cloud Growth and Chip Turnarounds in Focus
Amazon and Intel report third-quarter results on the same evening this month. Both companies release after the market closes on Thursday, October 29, continuing the busiest week of earnings season.
Analysts expect Amazon to post earnings per share (EPS) of about $1.96 on revenue of $202.1 billion, according to the consensus estimates compiled by World Market Stats. Those figures are analyst expectations, not a company forecast, and estimates differ slightly across data providers.
The number investors will study most closely is Amazon Web Services. The cloud division drives the bulk of Amazon’s operating profit, and its growth rate is the barometer for enterprise spending on computing and AI tools. Amazon’s overall revenue has been growing at a strong double-digit clip, and the second quarter brought sharp year-over-year profit growth.
Intel’s report comes from a different place. The chipmaker gave its own outlook for the third quarter, guiding revenue to a range of $15.8 billion to $16.8 billion, with gross margin of about 41 percent on a GAAP basis and 42 percent on a non-GAAP basis at the midpoint of the range. Analysts expect EPS of roughly 40 cents.
Intel’s story centers on execution. The company is working through a turnaround of its manufacturing business, where it both designs and fabricates chips, and investors will compare its revenue guide and margin outlook against its factory commitments and AI-chip demand.
Both reports will land in a market already digesting the week’s earlier results from Microsoft, Alphabet, and Tesla. Together, these October reports shape the year’s biggest read on whether corporate America can keep funding the AI investment cycle while delivering the profit growth that current stock prices imply.
As always with earnings, the headline beat or miss is only part of the story. Guidance for the final quarter of the year and any commentary on demand trends often move shares more than the quarterly figures themselves.
