Plus: Ford misses Q4 2022 earnings estimates by $1.1B
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Apple has missed Wall Street estimates, seeing its largest quarterly revenue decline since 2016 in the new Q4 2022 earnings report. The company missed sales, profit, and revenue expectations. More: - Apple CEO Tim Cook said Apple's Q4 performance was hindered by three main factors:
- The rise of the U.S. dollar's value,
- iPhone 14 Pro and iPhone 14 Pro Max production issues in China
- and the macroeconomic environment.
- Apple's adjusted earnings per share were $1.88 versus the $1.94 estimates.
- Its overall revenue was $117.15B, a relatively large miss compared to the $121B estimates.
- Apple's sales dropped by 5% compared to 2021, the largest YoY drop since 2019.
- The California-based company stated that its overall number of active devices now stands at 2 billion globally, up from 1.8 billion in 2021.
- The company's share price dropped by 4% in extended trading after the earnings report was published.
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Amazon has beaten Q4 revenue Wall Street estimates by nearly $4B, reporting $149.2B in revenue. The company's stock price, however, dropped by 4% after the report. More: - Wall Street estimated that Amazon would post $145.42B in revenue during Q4 2022, a figure that was easily beaten by the e-commerce giant.
- The Andy Jassy-led company posted $1.39 in adjusted earnings per share.
- Amazon expects to see a growth rate of anywhere between 4% and 8% during Q1 2023 compared to the same period in 2022. This would mean that the company earns $121B-$126B during this quarter.
- The company's stock price dropped by 4% after the earnings report. Analysts believe the drop is tied with the Q1 estimate, which was expected to be higher.
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President Joe Biden and House Speaker Kevin McCarthy plan to meet again to discuss raising the national debt ceiling. The statement was made by the speaker's office. More: - On Jan. 19, the United States hit its national debt ceiling of $31.4T. Congress now has a short period (June 2023) to agree on a bipartisan deal that would see the U.S. lift its debt ceiling so that financial markets could continue to operate as usual.
- McCarthy, R-Calif., has stated that both he and Biden agree that the debt ceiling should be raised, but they don't agree on how the U.S. should approach the situation. McCarthy insists that the U.S. government should agree on spending cuts in order to win the Republican vote.
- The debt ceiling is a cause for debate among many critics who claim that the U.S. cannot sustain its continued rise. Others argue that this is necessary to pay for spending that has already been approved.
- If Congress were to fail to raise the national debt ceiling, it could cause a global crisis because investors around the world are tied to the U.S. financial market.
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Ford has missed Q4 2022 earnings estimates, including failing to reach its own Q4 2022 revenue estimates by as much as $1.1B. The automaker blamed execution issues as the main reason for the considerable miss. More: - Ford saw 51 cents in adjusted earnings per share, compared to the 62 cents Wall Street estimated.
- Its Q4 2022 earnings stand at $10.4B, representing little to no growth compared to the same period in 2021.
- The U.S. automaker outperformed in revenue, however, seeing $41.8B in revenue compared to the $40.37B estimated.
- Investors expected that the company would report similar figures to General Motors, as the latter blew past Wall Street expectations, earning $2.12 in adjusted earnings per share vs. the $1.69 expected.
- Ford shares (NYSE: F) were down by 6.42% in after-hours trading.
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Los Angeles Football Club has become the first U.S. soccer team to reach a $1B valuation. The team joined Major League Soccer in 2018 for a $110M fee. More: - LAFC won its first MLS championship in 2022, helping the team increase its valuation and popularity.
- The team has sold out every MLS regular season and playoff match since its league debut in 2018, a stunning achievement considering the team plays in a 22,000-seat stadium.
- The franchise had $116M in revenue and $8M in operating income in 2022.
- Since 2019, the average MLS team valuation has grown by 85%.
- On average, an MLS franchise is now worth $579M, up from $313M.
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SoftBank-backed Zopa has raised a $93M funding round to offer loans and digital banking services. The company has now surpassed a $1B valuation. More: - Zopa is a fintech company that offers peer-to-peer loans with low rates, flexible terms, and no early repayment fees.
- Zopa has $3.7B in deposits in its savings business and has approved $9.9B in loans so far.
- The company has around 850,000 customers.
- IAG SilverStripe, Uprising, and Augmentum participated in the funding round.
- Zopa is based in London, U.K.
- Since its inception in 2005, the company has raised nearly $900M.
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- The European Central bank has hiked interest rates by a half-point. Deposit rates in the eurozone now stand at 2.5%.
- Goldman Sachs' traders earned over $3B in commodities trades in 2022. The figure is the highest regarding trading in the asset class since 2009.
- Ronovo Surgical has raised a $50M funding round to offer robotic laparoscopic surgeries. The company is based in Shanghai.
- Avatar: The Way of Water has entered the list of the top 10 highest-earning U.S. domestic movies of all time. The movie has earned $623.5M at the domestic box office, surpassing The Avengers, which earned $623.4M.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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