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.
House Speaker Nancy Pelosi on Thursday reversed her position on efforts from rank-and-file members to restrict or ban members of Congress from trading stock in individual companies while in office.
The 40-page paper was widely seen as the first step in doing just that, but the document provides only partial hints as to if the Fed is supportive of a central bank digital currency.
The People's Bank of China (PBOC) announced on Tuesday that 261 million individuals, or about a fifth of the country's population, have now set up digital yuan wallets.
Courier service Dutch-X is transitioning its fleet of cargo vans to more e-bikes for New York City deliveries as last-mile deliveries in packed urban centers continue to surge. Cheddar's Michelle Castillo has more.
Amazon says it plans to open a clothing store in a Southern California mall later this year, a first for the online behemoth and a fresh challenge for already struggling traditional retailers.
The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market.
Stocks ended sharply lower on Wall Street Thursday, and the benchmark S&P 500 closed at a three-month low as corporate earnings and inflation continued to hold investors’ attention.
Starbucks is no longer requiring its U.S. workers to be vaccinated against COVID-19, reversing a policy it announced earlier this month.
Crews are making railroad repair in Los Angeles after a train derailed near the location where thieves have been raiding cargo containers, leaving the tracks littered with empted boxes of packaged goods sent by retailers.
Stocks continued to fall on Wall Street Wednesday as investors review the latest corporate earnings and prepare for higher interest rates.
