By Yelin Mo and Brenda Goh BEIJING (Reuters) -Apple’s weak China sales performance may have shocked investors, but customers and analysts have been noting the rising challenges the company faces in its third-largest market. Intensifying competition from domestic rivals, coupled with longer upgrade cycles as consumers spend more cautiously amid an economic slowdown, have stunted…
By Akash Sriram and Greg Bensinger (Reuters) -Amazon.com beat fourth-quarter revenue expectations on Thursday as new generative AI features in its cloud and ecommerce businesses spurred robust growth during the critical holiday period. Investors cheered the results, sending Amazon shares up as much as 8% in trading after the market close. Amazon’s roster of high-spending…
By Davide Barbuscia and Lewis Krauskopf (Reuters) – Investors hoping for imminent rate cuts by the Federal Reserve received a sobering reminder of the U.S. central bank’s focus on fighting inflation, after Chairman Jerome Powell poured cold water on bets policymakers would lower borrowing costs in March. At the end of the central bank’s first…
By Jeffrey Dastin and Akash Sriram (Reuters) -Alphabet disappointed Wall Street on Tuesday as holiday-season advertising sales came in below expectations and the company said its spending on items such as servers to power artificial intelligence would jump this year. Alphabet shares fell 6% in after-hours trade. Against a backdrop of mixed U.S. economic signals,…
By Ron Bousso LONDON (Reuters) -Shell reported a $28 billion profit for 2023 on Thursday after beating fourth quarter earnings forecasts on strong liquefied natural gas (LNG) trading, allowing the oil giant to increase its dividend and extend share repurchases. Annual profit was down 30% from the previous year’s record, marked by lower chemicals and…
By Katie Paul, Stephen Nellis and Max A. Cherney (Reuters) – Facebook owner Meta Platforms plans to deploy into its data centers this year a new version of a custom chip aimed at supporting its artificial intelligence (AI) push, according to an internal company document seen by Reuters on Thursday. The chip, a second generation…
(This Jan. 26 story has been corrected to fix the release date of Meta Platforms earnings results in paragraph 3.) By David Randall NEW YORK (Reuters) – The U.S. stock market’s strong start to the year faces a major test next week in a stretch packed with big tech earnings, the Federal Reserve’s monetary policy…
