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.
European antitrust regulators gave Amazon approval for its MGM acquisition deal. Amazon expects MGM's collection of content will help it compete in the increasingly crowded world of streaming services.
Online retailer Boxed reported a significant growth in its latest earnings, and CEO Chieh Huang joined Cheddar News to talk about its Q4 report, what's upcoming for the company, and how the business avoided the mass labor shortages dubbed the great resignation. "We've been really lucky when it comes to what we're known about as a company. Half of what comes up if you search us on the internet is how we treat our frontline team even before, I guess, it was the kind of soup du jour to do so," he said. "We treat them extraordinarily well."
The Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.
Lisa Whalen, managing director of automotive and mobility analysis at Morning Consult, joins Cheddar News to discuss Uber and Lyft's decision to enact price surcharges on riders.
With a zero-covid policy in China, country officials are imposing lockdowns in the region in an attempt to control the spread. With China being home to about one-third of global manufacturing, these lockdowns are wreaking havoc on the already fragile supply chain, causing disruption to production of phones and cars alike. Suketu Gandhi, Supply Chain Partner at Kearney joined Cheddar's Azia Celestino to discuss.
Brian Napack, President & CEO of Wiley, discusses the ways COVID-19 and remote learning is impacting growth, and talks about how Wiley is capitalizing from the trends seen in their corporate clients.
