PREVIEW: Amazon.com shares jump, seen reporting jump in Q1 rev, EPS

Shares in retail and cloud-computing service giant Amazon.com AMZN.O up 3% with investors encouraged by rival Microsoft's performance; AMZN to report Q1 financial results after market close

Wall Street sees AMZN reporting adj EPS of $1.36 vs $0.98 in year-ago quarter on rev of $155.04 bln vs $143.31 bln year-ago, according to the latest data gathered by LSEG

In the last 8 quarters AMZN blew past Street expectations for EPS while revenue met or beat 7 times

Shares in AMZN were boosted on Thursday after cloud rival Microsoft MSFT.O late on Wednesday forecast stronger-than-expected quarterly growth for its cloud-computing business Azure after blowout results in the latest quarter

The MSFT news was particularly encouraging as investors had slammed Amazon shares in early Feb due to Q4 cloud computing weakness and lower-than-expected Q1 rev, profit estimates

Investors will also be watching for clues on consumer health from Amazon's online retail business with import tariffs a big area of concern

AMZN last traded at $190.48 vs median PT of $245, down from $270 a month ago, as per LSEG, which shows 73 analyst ratings: 20 'strong buy,' 48 'buy' and 5 'hold' ratings

YTD AMZN down ~13% in line with ~13% drop for S&P 500 consumer discretionary index .SPLRCD