Amazon 2Q earnings beat Wall Street estimates Tuesday, sending stocks climbing in after hours trading. The company reporter its 5th straight quarter of cloud share growth, the 37% increase being the fastest for Amazon since the end of 2021. Bloomberg Intelligence Senior Analyst for E-Commerce Poonam Goyal, and Bloomberg Intelligence Senior Technology Analyst Anurag Rana break down the earnings numbers as they roll in.
Bruce Richards, Managing Partner and Head of CVC Marathon discusses the current state of credit markets and the cost of capital. With $80 billion in assets under management and extensive Wall Street experience, Richards provided valuable perspectives on market dynamics and financing conditions. He speaks with Romaine Bostick & Emily Graffeo on "The Close."
Reformation CEO Hali Borenstein discusses the company's IPO, which raised $211 million. She highlighted Reformation's consistent double-digit revenue growth over 20 consecutive quarters and emphasized the company's commitment to redefining retail and modernizing fashion branding. She speaks with Romaine Bostick & Emily Graffeo on "The Close."
Gil Luria, D.A. Davidson's head of technology research, reacts to Amazon Web Services' revenue growth and discusses the outlook for Amazon.com Inc. on "Bloomberg The Close."
Apple sales grew more slowly than analysts anticipated in China and its services business last quarter. Though total revenue topped estimates, the China sales amounted to $18.8 billion in the fiscal third quarter, well short of the $19.6 billion estimated by analysts. Revenue from services was $30.7 billion, compared with a $31.4 billion projection. Mark Gurman breaks down the numbers on "Bloomberg The Close."
Tony Wang, T. Rowe Price science and technology equity strategy portfolio manager, reacts to Apple's third-quarter earnings and outlook. He speaks on "Bloomberg The Close."
Rivian CFO Claire McDonough joins Bloomberg's Ed Ludlow as the EV maker begins delivering its highly anticipated R2 SUV. She discusses early customer demand, the production ramp, and why the more affordable vehicle is expected to drive Rivian toward automotive gross-profit positivity by the end of 2026. McDonough also outlines the company's capital position, software strategy, and how recurring software revenue is becoming a larger part of the business.
Aon CEO Edmund Reese said that despite rising geopolitical risk, customers want to understand how to protect their assets as they continue to grow and invest. Reese said that his company has been investing in tools and data to help the client base better understand their exposure as risk factors intermingle for the business community.
Laura Martin, senior entertainment & internet analyst for Needham & Company, said that she is worried about Meta's strategy because Mark Zuckerberg keeps moving the goalposts on who he is taking on as competition. Martin said that although Zuckerberg's ideas might be good, the strategy is too diffuse to corner the market on chips or or AI.
Swarthmore College, an elite liberal arts school in Pennsylvania, lost its AAA grade from S&P Global Ratings after running up its debts to finance renovations to dormitories, classrooms and other projects across its campus. Bloomberg's Amanda Albright reports on "Bloomberg Real Yield."
