- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
- 'Broken' news industry faces uncertain future
- On remote Greek island, migratory birds offer climate clues
- Taken from mother by nuns, victim seeks answers as pope visits Belgium
- China cuts amount banks hold in reserve to boost lending
- Hong Kong, Shanghai extend surge as China optimism boosts markets
- Vietnam president reiterates support for Cuba during official visit
- Drought reduces Amazon River in Colombia by as much as 90%: report
- Stay or go? Pacific Islanders face climate's grim choice
- Florida bracing for 'unsurvivable' Hurricane Helene
- Poverty rises to over 52 percent in Milei's Argentina
- Chloe's see-through look may not be for Kamala Harris
- Champagne houses abuzz over English sparkling wine
- Macron, Trudeau pledge to work for 'decarbonized' economies
- Hurricanes, storms, typhoons... Is September wetter than usual?
- China stimulus, tech optimism boost stock markets
- 'Unsurvivable' Hurricane Helene races towards Florida
- Macron meets Trudeau in Canada as both face political setbacks
- South Korea surges in UN innovation index
- Chloe's see-through look may not be for Kamala
- Floods threaten Niger's historic 'gateway to the desert'
- China economy hopes boost global equities
- Ubisoft shares sink after 'Assassin's Creed' delay
- German economy to shrink again in 2024: think tanks
- Hong Kong's New World Development replaces CEO Adrian Cheng
- Swiss central bank cuts rate again amid strong franc worries
- Germany's BASF to focus on 'core units' in major overhaul
Amazon holiday quarter profit doubles
Amazon on Thursday reported its profit doubled to $14 billion in the recently ended quarter, giving a boost to jittery markets that expected less due to higher labor, sourcing and delivery costs.
The e-commerce colossus said its net sales climbed to $137 billion, and its profit benefited greatly from a return on investment in electric vehicle maker Rivian, which went public in November.
Its shares were up some 14 percent in after-hours trading at 2130 GMT, drawing in investors eager for some good news after shares tanked in Facebook parent Meta.
Amazon has been particularly exposed to the pandemic-driven supply chain headaches, labor churn and inflation that have come to weigh on people's lives and business' ability to make money.
Google parent Alphabet and Apple have posted whopping profits this earnings season, although Facebook was battered by markets -- losing some $200 billion in value -- after disappointing results that cast doubts about its future.
Still, ahead of the results, analysts cautioned that they e-commerce giant is under threat on several fronts.
- Headwinds -
"Amazon is facing more headwinds on Q4 performance than any time in recent memory," said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence.
He pointed to the comparison with the final quarter of 2020 when revenue blew past expectations, as well as e-commerce sales somewhat "underperforming."
"Rising labor, supply chain and delivery costs will likely squeeze the bottom line," he added.
Google's parent firm Alphabet announced quarterly profits Tuesday that beat expectations and nearly doubled in 2021 -- after a booming holiday season for the online ads giant facing anti-trust regulation scrutiny.
The Silicon Valley giant's dominance online has powered it to new heights during the pandemic period, but has also left it in the sights of regulators around the world.
Apple reported record $124 billion quarterly revenue on Thursday, despite a global chip pinch and shifting impacts of the pandemic that have weighed down other big tech players.
The supply chain mess that has disrupted the making and delivery of products to consumers is not disappearing, but Apple said it expected less impact in the coming months.
Facebook's parent firm Meta on Thursday plunged over $200 billion in stock value -- comparable to the size of New Zealand's economy -- after weak results.
In addition to costs of big investments on its metaverse vision for the internet and trouble for its core ads business, the firm predicted slower growth and even reported its first dip in daily users globally on the signature Facebook platform.
M.Anderson--CPN