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.
This June marks the 25th anniversary of the infamous 1997 "Bite Fight”, the iconic boxing rematch between Mike Tyson and Evander Holyfield when Tyson shockingly bit a piece of his opponent’s ear off. As a macabre tribute to the incident, the boxing legend’s line of cannabis products, Tyson 2.0, has released “Mike Bites", edibles in the shape of an ear complete with a bite mark. Tyson, the chief brand officer and co-founder, along with CEO Adam Wilks joined Cheddar News to talk about the unique gummies. "I just think this is just me owning what I did. I'm owning my responsibility. I've done that. That was pretty bad at the time, but I turned it over to make it pretty good," the former heavyweight champion said.
President Joe Biden is ordering the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months in a bid to control energy prices.
Catching you up on what you need to know on Mar 31, 2022, with updates on Biden's push for more COVID funding, a wave of storms hammering the South, Etsy sellers going on strike, and more.
Cheddar's Michelle Castillo reports on the activations for the streaming wars between HBO Max, Prime Video, Disney+, and Paramount+ from South by Southwest 2022 — and returns with a souvenir.
An inflation gauge closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.
A late slump left stocks decisively lower on Wall Street Thursday, wrapping up the worst quarter for the market since the pandemic broke out two years ago.
