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- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- South Korean cult-horror series 'Hellbound' returns at BIFF
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- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
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- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
- Devine leads New Zealand to big win over India in Women's T20 World Cup
- Bosnia floods kill 16 people
- EU court blocks French ban on vegetable 'steak' labelling
- Prosecutors seek dismissal of rape charges against French rugby players
- Meta AI turns pictures into videos with sound
- Bolivia's Morales says claims he raped a minor are a 'lie'
- MLB Reds hire two-time champion Francona as manager
- Daniel Maldini receives first Italy call-up for Nations League
- US dockworkers return to ports after three-day strike
- Ancelotti points finger at Madrid's 'lack of intensity'
- Haiti reeling after 70 killed in gang attack
- Five Czech kids in hospital over TikTok 'piercing challenge'
- What happens next in Iran-Israel conflict?
- Country star Garth Brooks denies rape accusations
- Stubbs hits maiden century as South Africa make 343-4 against Ireland
- DR Congo to begin mpox vaccination campaign Saturday in east
- Odegaard injury has forced Arsenal to be 'different', says Arteta
- Ratcliffe refuses to guarantee Ten Hag's Man Utd future
- Meta must limit data use for targeted ads: EU court
- Mauritius to hold legislative election on November 10
- Britain qualify for America's Cup final after 60-year wait
- IMF asks Sri Lanka to protect hard-won gains
- Morata returns to Spain Nations League squad after injury
- Irish regulator to probe Ryanair use of facial recognition
- Public allowed to see video evidence in France mass rape trial
- US hiring soars past expectations in sign of resilient market
- Under-fire Ten Hag 'together' with Man Utd hierarchy
- Guardiola talks of Man City love affair as financial hearing rumbles on
- De Bruyne out of Belgium Nations League squad
- Japanese trainer Yahagi hopes Shin Emperor achieves 50-year-old Arc dream
- UK's Starmer hails 'landmark' carbon capture funding
- As EU targets Chinese cars, European rivals sputter
- Bosnia floods kill 14 people
- Tennis world number one Swiatek splits with coach Wiktorowski
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.
H.Portela--PC