Amazon.com Inc. is expected to report stalling sales growth in the first quarter after demand fell for cloud computing and the tech giant embarked on a wide-ranging cost-cutting plan.
The company is scheduled to report first-quarter earnings Thursday after markets close. Analysts polled by FactSet on average predict $124.6 billion in sales, or about 7% growth, which would be a slight slowdown from the revenue growth Amazon saw a year ago. Analysts expect Amazon made $2.2 billion in profit from January to March, an improvement from the nearly $4 billion the company lost in the same period a year earlier.
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