Apple's revenue grew considerably during the most recent quarter but iPhone sales were down. The company sold 77.3 million iPhones during the holiday quarter, about one million less than the same time last year. It's the first time Apple has ever seen declining sales on its iPhones during the holiday season. However, the company did post $88.3 billion in revenue, up 13% from last year.
There was good news and bad news in the earnings report for Alphabet, the parent company of Google. The company beat expectations on revenue but fell short on earnings. Ad sales were strong but that profit was offset by increased ad spending.
And Amazon soared past Wall Street expectations thanks to strong holiday sales. The company beat on revenue and earnings. Amazon also set a new record, posting profits above $1 billion for the first time.
We dive into these earnings reports with Gene Munster, Managing Partner at Loup Ventures. Munster believes Amazon's profitability was a one-time thing. He is also predicting that Apple will release a new iPhone soon with a screen that's 25% bigger.
Plus, Cheddar's CEO Jon Steinberg talks to veteran newsman Dan Rather about his new partnership with The Young Turks. Rather now has a half-hour show airing on the network's YouTube channel. "The News with Dan Rather" will offer commentary and analysis on today's news, something he never did on "CBS Evening News." The show airs Mondays at 5:30pm ET.
As U.S. cities and airlines are weighing COVID-19 protocols like mask and vaccine mandates, Canada continues to ban travelers who are not fully vaccinated -- including professional athletes. The MLB season is now underway, and the Toronto Raptors have advanced to the NBA playoffs, so several athletes are expected to not participate in upcoming games in Canada. Gabe Lacques, MLB reporters and Baseball Editor for USA Today Sports, joins Cheddar News' Closing Bell to dsicuss.
Stocks closed mixed Wednesday as investors digested the latest earnings reports, in particular Netflix, which weighed on the tech-heavy Nasdaq. Netflix's quarterly results were disappointing — the streaming giant reported its first quarterly subscriber loss in a decade. Kevin Nicholson, Global Fixed Income CIO at RiverFront Investment Group, joins Closing Bell to discuss today's close, what investors are keeping an eye on, how the Federal Reserve could try to tame inflation, and more.
Stocks shed early gains and closed broadly lower on Wall Street Thursday after the head of the Federal Reserve said the central bank needs to take more aggressive action to fight high inflation.
Sallie Krawcheck, CEO and co-founder of Ellevest, joins Cheddar News' Closing Bell, where she explains how her firm is meeting the demand of women in the workplace who are looking to make and save more money.
Bence Jendruszak, COO and Co-Founder of SEON, joined Cheddar News' Closing Bell, where he says his platform sees more victims of online fraud during economic downturns, but explains why his company's solution can stop that trend.
