Amazon and Apple reported revenue results on Thursday that fell short of Wall Street analysts' expectations and warned that supply chain issues could weigh on business in the December quarter.
Both companies reported revenue results on Thursday that fell short of Wall Street analysts' expectations and warned that supply chain issues could weigh on business in the December quarter.Amazon missed Wall Street projections for both sales and profit for the three months ended September 30 — a rare miss for the internet giant. It posted net sales of $110.8 billion, up 15% from the same period a year earlier, but below analyst projections of $111.6 billion.
"Demand was very robust," he said, but he also noted that"larger-than-expected supply constraints," including silicon shortages and a"related manufacturing disruption," had a $6 billion negative impact on the business. Amazon's stock fell as much as 5% and Apple shares fell more than 4% in after-hours trading Thursday.Supply chain disruptions and staffing issues caused by the pandemic have escalated in recent months, hitting a wide range of industries.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple and Amazon are struggling, so investors may want to look to these tech stocks insteadOPINION: Companies focused on getting goods to consumers are struggling with supply-chain issues heading into the holidays, writes tpoletti, but enterprise software companies are looking strong.
Read more »
Nasdaq hits record high with Apple, Amazon results on deckThe Nasdaq hit a record high on Thursday, boosted by gains in Apple and Amazon ahead of their quarterly earnings, while solid results from companies such as Caterpillar and Merck helped ease concerns about slowing economic growth denting corporate profits.
Read more »
Apple Warns of Supply-Chain Disruptions as It Reports Record Year-End ResultsApple said supply constraints were worse than expected in its fourth quarter, crimping revenue, and expects them to cause larger headwinds this quarter
Read more »
Major analysts hope Amazon can bury supply chain concerns heading into third-quarter earningsNew for subscribers: Major analysts hope Amazon can bury supply chain concerns heading into third-quarter earnings. Check out CNBCPro today.
Read more »
Apple results hit by supply chain woes, Cook says holiday quarter impact will be worseSupply chain woes cost Apple Inc $6 billion in sales during the company's fiscal fourth quarter, which missed Wall Street expectations, and Chief Executive Tim Cook said that the impact will be even worse during the current holiday sales quarter.
Read more »
Dr. Dev Pragad, CEO of Newsweek by Brits in the Big Apple\u003Cp\u003ESir Colin Callender CBE is Chairman of Playground LLC, a theatre and television production company he founded in 2012 based in New York and London.\u003C\u002Fp\u003E\n\u003Cp\u003EAs a pioneering Emmy, BAFTA, Golden Globe, Olivier and Tony award-winning producer, Callender was one of the leading forces behind the new British independent production sector at the birth of Channel 4, and played a central role in HBO’s unprecedented commercial and critical success that helped transform the entertainment landscape, setting new benchmarks for quality film and television production.\u003C\u002Fp\u003E\n\u003Cp\u003ESince its launch in 2012, Playground has produced more than 90 hours of prime-time television drama garnering 16 Emmy nominations, 26 BAFTA nominations, 10 RTS nominations and 12 Golden Globe nominations, including a Golden Globe and BAFTA win for Best Miniseries.\u003C\u002Fp\u003E\n\u003Cp\u003EPlayground’s television productions include WOLF HALL, the BAFTA and Golden Globe Award-winning miniseries starring Mark Rylance, Damian Lewis and Claire Foy for BBC and Masterpiece on PBS, THE DRESSER, the RTS winning television adaptation of Ronald Harwood’s acclaimed play starring Ian McKellen and Anthony Hopkins and directed by Richard Eyre for BBC and Starz, HOWARDS END, Academy Award winner Kenneth Lonergan’s adaptation of EM Forster’s classic novel starring Hayley Atwell, Matthew Macfadyen and Tracey Ullman for BBC and Starz, LITTLE WOMEN, adapted by Heidi Thomas and starring Emily Watson, Michael Gambon and Angela Lansbury for BBC and Masterpiece on PBS, KING LEAR, starring Anthony Hopkins, Emma Thompson and Florence Pugh and directed by Richard Eyre for BBC and Amazon.\u003C\u002Fp\u003E\n\u003Cp\u003EMost recently Playground produced the hit adaptation of ALL CREATURES GREAT AND SMALL, based on the beloved novels by James Herriot for Channel 5 and Masterpiece on PBS.\u003Cbr \u002F\u003E\n\u003C\u002Fp\u003E\n\u003Cp\u003EBrought to you by the Br
Read more »