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.
Amazon founder and soon-to-be-space traveler Jeff Bezos is donating $200 million to the Smithsonian Institution to boost its National Air and Space Museum.
Johnson & Johnson says it is recalling five of its sunscreen products after some samples were found to contained low levels of benzene, a chemical that can cause cancer with repeated exposure.
The number of Americans applying for unemployment benefits has reached its lowest level since the pandemic struck last year, further evidence that the U.S. economy and job market are quickly rebounding from the pandemic recession.
Stocks closed lower Thursday, pulling major indexes a bit further below the record highs they marked at the start of the week.
While testifying before Congress on Wednesday, Federal Reserve Chairman Jerome Powell offered his most extensive comments yet on the possibility of a central bank digital currency.
Stocks ended a wobbly day on Wall Street with mixed results Wednesday as investors weighed the latest corporate earning reports and the Federal Reserve chair’s comments on inflation.
American consumers faced a third straight monthly surge in prices in June, the latest evidence that a rapid reopening of the economy is fueling pent-up spending for goods and services that in many cases remain in short supply.
Stocks closed lower on Wall Street Tuesday, bringing major indexes slighly below the record highs they set a day earlier.
Tesla founder Elon Musk took to a witness stand Monday to defend his company’s 2016 acquisition of a troubled company called SolarCity against a shareholder lawsuit that
Major stock indexes notched more record highs on Wall Street Monday as investors look ahead to a wave of earnings reports from big U.S. companies coming out this week.
