Page 46 - Amazon

Google, Apple, Amazon give investors reason to fret as Q4 profits drop

Wall Street had its eyes on Friday on big tech after some of the biggest companies in the world posted lackluster quarterly financial performances. That included Apple Inc. The company posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season. Amazon reported worse-than-expected fourth-quarter profits, but its revenue beat expectations boosted by sales in its cloud-computing unit AWS, which is also seeing a slow-down in growth. Google's parent company Alphabet posted a lower profit and a small revenue increase for last year's fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant. While overall revenue grew, advertising revenue fell by nearly 4 per cent and revenue at YouTube declined 8 per cent year-over-year. Amazon ended on Friday down 8.4 per cent and Alphabet lost 2.8 per cent. Apple bounced back, finishi

Amazon posts $149.2 bn in net sales, faces short-term uncertainty

Amazon on Friday reported that its net sales increased 9 per cent to $149.2 billion in the fourth quarter that ended December 31, compared with $137.4 billion in fourth quarter 2021.

Investors fret on Google, Apple, Amazon's lackluster quarterly performance

Wall Street has its eyes on big tech after some of the biggest companies in the world posted lackluster quarterly financial performances. That included Apple Inc. The company posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season. Amazon reported worse-than-expected fourth-quarter profits, but its revenue beat expectations boosted by sales in its cloud-computing unit AWS, which is also seeing a slow-down in growth. Google's parent company Alphabet posted a lower profit and a small revenue increase for last year's fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant. While overall revenue grew, advertising revenue fell by nearly 4% and revenue at YouTube declined 8% year-over-year. Amazon fell 4% and Alphabet fell 2% Friday. Apple bounced back 3% in midday trading.

US FTC is preparing potential antitrust lawsuit against Amazon.com

The allegations the agency is preparing to make and the timeline for filing a complaint are still in flux, said the people, who asked not to be named speaking about a confidential probe

Indian authority seeks tax from Amazon on cloud services fees paid to US

Indian tax authority has decided to charge tax on cloud services fees paid by Amazon to the US, a move which will lead to company coughing up "significant" amount in taxes including payments for some of the previous years, the company said in a regulatory filing. Without sharing details of the decision, Amazon said it will contest the decision but it will have to remit a significant amount in taxes unless the matter is resolved. "In February 2023, we received a decision by the Indian Tax Authority (ITA) that tax applies to cloud services fees paid to the US. We will need to remit taxes on the services in question, including for a portion of prior years, until this matter is resolved, which payments could be significant in the aggregate," the company said. Amazon claimed that the ITA's decision is without merit. "We believe the ITA's decision is without merit, we intend to defend our position vigorously, and we expect to recoup taxes paid. If this matter is adversely resolved, we wo

Apple, Alphabet and Amazon profits down as economic slump crimps demand

Apple's sales fell more than analysts predicted during the holiday quarter, slammed by slack purchases of iPhones and Macs

Amazon job cuts hit staffers in grocery, robotics, payments, AWS divisions

Amazon announced job cuts of around 18,000 employees last month, and those who lost their jobs were from various divisions of the company, including AWS, healthcare and delivery business, among others

Shah Rukh Khan among most searched actors on Amazon Fire TV devices in 2022

T20 World Cup match between India and Pakistan in 2022 recorded the highest viewership on a single day, said Amazon in its Fire TV streaming trends report

Amazon India offers 50% referral fee waiver for e-commerce businesses

Businesses pay Amazon referral fees to for facilitating sales on the online marketplace

Gautam Adani now no longer among world's top 10 richest billionaires

In the last 24 hours, Adani's net worth has fallen $8.21 billion, the highest among the top 100 billionaires in the list

Amazon warehouse workers hold first UK strike, adding to labour turmoil

Amazon warehouse workers went on strike for the first time in Britain on Wednesday because of a dispute over pay and working conditions, adding to a wave of industrial labour action across the country fuelled by the soaring cost of living. Union members voted to walk off the job at the e-commerce giant's fulfillment center in Coventry, a city about 100 miles (160 kilometers) northwest of London near Birmingham. Amanda Gearing, a senior organiser with the GMB union, said Amazon staff who worked through tough conditions during the COVID-19 pandemic are just trying to get decent pay." Another big issue is performance targets set by an algorithm that piles extra pressure on workers, she said. The union is fighting for a bigger pay raise than the company's offer, which it says amounts to an extra 50 pence (61 cents) an hour. Amazon, which operates 28 fulfillment centers in the United Kingdom, said 2,000 workers are employed at the Coventry facility. The union says 98 per cent of those

Amazon adds prescription drug discount programme to health care business

Amazon is adding a prescription drug discount programme to its growing health care business. The retail giant said Tuesday that it will launch RxPass, a subscription service for customers who have Prime memberships. Amazon said people will pay USD 5 a month to fill as many prescriptions as they need from a list of about 50 generic medications, which are generally cheaper versions of brand-name drugs. The company said the flat fee could cover a list of medications like the antibiotic amoxicillin and the anti-inflammatory drug naproxen. Sildenafil also made the list. It's used to treat erectile dysfunction under the brand name Viagra and also treats a form of high blood pressure. Amazon sells a range of generic drugs through its pharmacy service. Some already cost as low as USD 1 for a 30-day supply, so the benefit of this new programme will vary by customer. The new programme doesn't use insurance, and people with government-funded Medicaid or Medicare coverage are not eligible. It

Alia Bhatt's age to Bitcoin prices, here is what India asked Alexa in 2022

Users were interested in trivia and global events, and frequently turned to Alexa to brush up their knowledge

Jeff Bezos may sell Washington Post to buy American football team: Report

Bezos bought The Washington Post in 2013 for $250 million

Amazon launches dedicated air cargo service in India to speed up deliveries

This is set to enable faster deliveries to customers

Thousands of Indian IT professionals jobless, scrambling for options in US

Thousands of Indian IT professionals in the US, who have lost their jobs due to the series of recent layoffs at companies like Google, Microsoft and Amazon, are now struggling to find new employment within the stipulated period under their work visas following the termination of their employment to stay in the country. According to The Washington Post, nearly 200,000 IT workers have been laid off since November last year, including some record numbers in companies like Google, Microsoft, Facebook and Amazon. As per some industry insiders, between 30 to 40 per cent of them are Indian IT professionals, a significant number of whom are on H-1B and L1 visas. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. L-1A and L-1B visas are available for temporary .

iQOO confirms Neo 7 smartphone specifications ahead of February 16 launch

The Neo 7 will be available for purchase on Amazon India and iQOO e-store, announced iQOO on January 20

Apple to expand smart-home lineup with new displays, faster TV set-top box

The push into smart displays will start with a tablet product - essentially a low-end iPad - that can control things like thermostats and lights, show video and handle FaceTime chats

In layoff season, social networks are stepping up to help ease the anxiety

Support and empathy on sites such as LinkedIn and a market that is still hiring are softening the blow

Amazon shuts its charity donation program 'AmazonSmile' as it fails purpose

Amazon on Thursday announced that it will shut down its charity donation programme, "AmazonSmile", as it failed to create the impact the company hoped for