** Shares in Amazon.com AMZN.O up ~2% on Thursday ahead of quarterly report due out after the market close with investor anticipation high after impressive reports from Microsoft MSFT.O and Meta Platforms META.O late on Wednesday

** Wall Street sees AMZN reporting Q2 adj EPS of $1.33 vs $1.26 in Q2 2024 on rev of $162.09 bln, which would be up 9.5% vs $147.98 bln year ago, according to LSEG data

** In last 8 quarters AMZN's EPS beat the Street very handily every time while revenue met or beat expectations 7 times with a ~0.4% miss in Q2 2024

** Amazon is expected to seek to reassure investors that Amazon Web Services (AWS), its cloud business, is growing fast enough to offset any pullback in consumer spending that could hurt its retail operations. AWS, which accounts for less than a fifth of AMZN sales but typically ~60% of its profit, is expected to have grown ~17% in the April-June period

** In busier than average trading session AMZN shares are ~$235 vs median PT of $250, which is above $240 median a month ago, according to LSEG, which shows 73 analyst ratings: 22 'strong buy,' 47 'buy' and 4 'hold' ratings

** YTD it has risen ~7% vs gain of ~5% for the blue chip Dow Industrial Average .DJI and a 0.9% decline for the S&P 500 consumer discretionary index .SPLRCD

** ** AMZN options primed for a 5.8% swing for the shares, in either direction, on Fri; over the last eight quarters, on average, the shares moved 5.5% the day after results, according to Trade Alert

(Reporting by Sinead Carew, Saqib Iqbal Ahmed)

((sinead.carew@thomsonreuters.com))