Amazon beats Q4 revenue estimates, but profits slump

( ) -q-21- UNDATED (Correspondent Jeremy House) “start-up Rivian Automotive.”

Amazon has reported worse-than-expected profits, but its revenue beat expectations boosted by sales in its cloud-computing unit AWS.

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TAG: Correspondent Jeremy House reporting. Shares in Amazon.com Inc. fell 4% in after-hours trading. The earnings report closes a rough 2022 for Amazon. The company’s stock lost nearly half of its value last year amid a broader sell-off of tech shares tied to rising inflation, interest rates and concerns about the wider economy.

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VERBATIM: Amazon said it earned $300 million, or 3 cents per share, in the October-December quarter. Industry analysts were expecting the Seattle-based company to earn 17 cents a share. It said its profits were dented by a $2.3 billion write-down of the value of its stock investment in electric vehicle start-up Rivian Automotive.

January jobs numbers confound Fed’s strategy

January’s strong jobs report could make the Fed’s job harder. President Biden took a victory lap after the government reported 517-thousand new jobs last month and a 3-point-4 percent unemployment rate. But the latest numbers could cause headaches at the nation’s central bank. The Fed has been raising interest rates in hopes of slowing hiring and taming inflation. January’s report surprised analysts because wage growth eased a bit, even as inflation shows signs of cooling.

Southwest COO Watterson To Appear Before Senate Committee Over Christian Cancllations

Former President Trump Kicks Off Campaign Events

The former President is kicking off his 2024 campaign with two stops along the East Coast. More from Correspondent Bernie Bennett.

Former President Donald Trump kicked off his 2024 White House bid with a stop Saturday in New Hampshire before heading to South Carolina, appearances in early-voting states marking the first campaign events since announcing his latest run more than two months ago.

Those states hold two of the party’s first three nominating contests, giving them enormous power in selecting the nominee.

Mr. Trump and his allies hope the events will offer a show of force behind the former president after a sluggish start to his campaign. In recent weeks, his backers have reached out to political operatives and elected officials to secure support for Mr. Trump at a critical point when other Republicans are preparing their own expected challenges.

Bernie Bennett reporting.

The Satanic Temple is getting into the abortion business

The Satanic Temple is getting into the abortion business

VERBATIM: The organization says it is opening a telehealth abortion clinic in New Mexico. The Satanists call abortion one of their “rituals” and argue that it should be protected under the First Amendment guarantee of religious freedom. The New Mexico facility will actually be called the “Satanic Abortion Clinic” and will provide abortion pills through the mail for women who seek them. The Satanic Temple says it will also provide funding for women to travel to abortion-friendly states. Michael Harrington, SRN News.

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