Apple Misses on iPhone Sales, Amazon Sees Record Profit
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.
And Amazon soared past Wall Street expectations in its recent earnings report. The company beat on revenue and earnings thanks to strong holiday sales. Amazon also set a new record, posting profits above $1 billion for the first time.
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An Illinois jury ruled this week that several major egg producers conspired to limit the U.S.'s supply of eggs in order to raise prices in a case stemming from a federal lawsuit originally filed 12 years ago.
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