Apple Reports Record Quarterly Earnings of $25.4 Billion

  • **”Walmart to invest $10 billion in electric vehicles and renewable energy.” Walmart announced on Monday that it will invest $10 billion in electric vehicles and renewable energy over the next 10 years. The company said it will use the investment to purchase electric delivery vehicles, install solar panels on its stores and warehouses, and develop new ways to capture and use energy from waste.

  • **”Apple reports record quarterly earnings of $25.4 billion.” Apple announced on Tuesday that it had earned $25.4 billion in the fourth quarter of 2022, up 11% from the same quarter last year. The company’s revenue also hit a record of $123.9 billion. Apple’s strong earnings were driven by strong sales of its iPhone and Mac computers.

  • **”Tesla stock price falls after Elon Musk says he wants to cut 10% of jobs.” Tesla’s stock price fell sharply on Tuesday after CEO Elon Musk said he wants to cut 10% of jobs at the company. Musk said the job cuts are necessary to ensure that Tesla is “as lean as possible.” The company’s stock price has fallen by more than 30% in the past year.

  • **”Netflix loses subscribers for the first time in over a decade.” Netflix announced on Tuesday that it had lost 200,000 subscribers in the first quarter of 2023. This was the first time the company had lost subscribers in over a decade. Netflix blamed the loss of subscribers on increased competition from other streaming services, such as Disney+ and HBO Max.

  • **”U.S. inflation hits 8.6% in May, highest level in 40 years.” Inflation in the United States hit 8.6% in May, the highest level in 40 years. The increase in inflation was driven by rising prices for food, energy, and housing. The Federal Reserve is expected to raise interest rates in an effort to cool inflation.

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