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.
The crypto lobbying boom kicked off last year, sparked by a broadly-worded provision in the bipartisan infrastructure bill. Cheddar's Alex Vuocolo takes a deeper look.
U.S. auto safety regulators have launched another investigation of Tesla, this time tied to complaints that its cars can stop on roads for no apparent reason.
U.S. stocks ended Wednesday's session mixed following the release of the minutes from the Federal Reserve’s most recent meeting, and amid ongoing tensions between Russia and Ukraine. Dan Eye, Chief Investment Officer at Fort Pitt Capital Group joined Cheddar News' Closing Bell to discuss.
Online tutoring service Paper recently raised $270 million in a Series D funding round. Paper says its online platform serves nearly two million students and offers unlimited, 24/7 academic support via its multilingual tutors. The company partners directly with school districts instead of families, and says this allows it to provide personalized tutoring to all students regardless of their socioeconomic status. Philip Culter, co-founder and CEO of Paper, joined Cheddar News' Closing Bell to discuss.
Applications for U.S. unemployment benefits rose last week, but remain near historically low levels, reflecting relatively few layoffs across the economy
