Amazon set to report first-quarter earnings after the bell

amazon reports first-quarter earnings after the bell wednesday. wall street expects eps of $1.64 on revenue of $177.3 billion, per lseg. that would be 14% revenue growth, accelerating from 8.6% a year ago. aws revenue is expected at $36.92 billion, up roughly 26% from last year. advertising should hit $16.87 billion. amazon's capex is projected to reach $200 billion in 2026, up sharply from last year and $50 billion above analyst estimates. the company deepened investments in openai and anthropic during the quarter, with both committing to more aws compute over several years. amazon also laid off 16,000 employees at the start of the quarter, after cutting 14,000 in october. it announced plans to acquire satellite company globalstar for roughly $11.57 billion. amazon now has 270 leo satellites in orbit after a monday launch, with 32 more going up thursday. it's asked the fcc for an extension on its july deadline to have half of its 3,236-satellite constellation in orbit. spacex urged the agency to reject the request.