The company’s quarterly earnings beat expectations, at $0.54 per share. Revenue was up 25% from a year ago, boosted in part by an 128% increase in cloud services.
46 mins ago
Amazon tests investors’ patience.
Shares of the company plummeted in after-hours trading after Amazon posted a 20% quarterly revenue gain, alongside a $437 million profit loss, its biggest quarterly profit loss in 14 years. Some doubters call the setup a ponzi scheme; others call it the future.
2 hours ago
Paul Allen throws $100 million at the fight against Ebola.
Canadian lawmakers carry on after Ottawa shooting.
The country’s parliament responded briskly if calmly to Wednesday’s shooting in Ottawa, saying it would introduce legislation this week to boost police and intelligence service powers to counter terrorist threats. Lawmakers and public servants were told they could return to work Thursday to maintain some sense of normalcy.
3 hours ago
Spain’s jobless rate drops (ever so slightly) to 2011 levels.
It’s sad when a 23.7% unemployment rate is good news, but that Q3 number is nearly a full percentage point lower than the 24.5% Spain clocked in the second quarter. The Bank of Spain predicts the economy grew 0.5 percent in the period, making it one of the fastest in the region. Still, unemployment remains the second-highest in the EU after Greece.
Excluding a one-time tax adjustment, the US cable and internet provider reported a 12.3% profit jump. Total revenue for the NBC Universal owner climbed to $16.79 billion, a 4% jump from the same period a year earlier (though slightly lower than what analysts expected). Its high-speed internet service attracted more customers than during the same quarter last year, while fewer of its cable subscribers cut the cord.
October 23, 2014
General Motors beat earnings expectations—barely.
The car company’s third-quarter profit came in at $1.47 billion, 14% lower than the same quarter a year ago. The performance still bested analyst expectations. The company benefitted from more resilient North American customers who bought more cars and trucks at higher prices and made up for big losses in Europe and South America.
October 23, 2014
Kenny G backs down over Hong Kong.
After risking Beijing’s displeasure by attending protests, the saxophonist now says he was just walking through.