Amazon forecast current-quarter sales below estimates and said wary retailers are looking for cheaper shopping options, sending shares down 5%. The after-hours drop in shares came despite second-quarter earnings and cloud computing sales that beat Wall Street estimates. Amazon CFO Brian Olsavsky said on a call with reporters that consumers are becoming more careful with … Read more
Apple on Thursday forecast steady growth after third-quarter iPhone sales topped Wall Street targets, even as overall results in China disappointed. The company’s shares rose 1% in extended trading. Apple said revenue in the fiscal fourth quarter would grow at a similar level to the 4.9% growth it posted in the April-June period. Its sales … Read more
Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy third-quarter sales forecast, signaling that strong digital ad spending on its social media platforms could cover the cost of capital investment. of artificial intelligence. The company’s shares rose 4% after the bell. The parent company of Facebook and Instagram said it … Read more