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.
Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe.
The Treasury Department pushed for the requirement to help close the tax gap in the crypto industry by forcing better IRS reporting, but legislators on both sides of the aisle argue that the language is too broad and could curb innovation in the space.
The number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, another sign that the U.S. job market is rebounding rapidly from last year’s coronavirus recession.
Samsung said it plans to build a $17 billion semiconductor factory in Texas amid a global shortage of chips used in phones, laptops, cars and other electronic devices.
Stocks ended with scant gains after another wobbly day of trading on Wall Street Wednesday as the market remained unsettled ahead of the Thanksgiving holiday.
Climate change that may have contributed to a lobster boom in Maine could soon lead to a bust. Chloe Aiello reports.
Businesses are turning increasingly to virtual items as gift options this holiday season, especially as shipping delays and shortages make some physical items less available.
Federal officials said Monday they are seeking more than $160,000 in fines from eight airline passengers over incidents involving alcohol.
Good Morning America co-host Michael Strahan will be among the crew on Blue Origin’s next flight to space.
President Joe Biden is ordering a record-setting 50 million barrels of oil released from America's strategic reserve to help bring down energy costs.
