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Is this another sign that the postpandemic travel boom is running out of gas im melissa lee, this is fast money, were live at the nasdaq ma marketsite we start off with a huge slate of earnings. Apple and amazon headlining the afterhours action. Full Team Coverage on all these names. We start off with steve kovach and apples big quarter. Steve . Yeah, melissa, it is, like you said, the Third Quarter in a row of falling sales, with revenue still beating estimates, but down 1 year on year so, revenues coming in at 81. 8 billion, street was looking for 81 p . 69 billion and the eps was a bigger beat, 1. 26 versus 1. 19 expected. Iphone, slight miss, coming in at 39. 67 billion. Just a couple hundred mill short of expectations there. But the story today is going to be services. Hitting a new record of 8 year on year. Growth accelerating there, booking 21. 21 billion in revenue ther ....
Ticketmaster forced to face the mu music. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, karen finerman, steve grasso and julie biel. The do s p 500 and nasdaq pulling back after hitting record levels in the session that even as nvidia soared more than 9 on the back of an Earnings Report that few could find fault with. So, why werent the big numbers from the third biggest stock in the u. S. Enough to boost the rest of the market maybe ironically, Even Stronger numbers on the economy a better than expected read on pmi sent probabilities of september rate cut from nearly 58 yesterday to even money right now. Are markets now all about the fed once again tim, what happened today i think the fed is the most important dynamic in the market, but i do think you have a case here where that pmi, that composite pmi, the services component ....
Higher for a change. Im melissa lee coming to you from studio b on the desk, tim seymour, dan nathan and guy adami. We start with meta shares now up 2. 5 just about after posting a top and bottom line beat. The company seeing return to ad Revenue Growth avenue dismal 2022 and Julia Boorstin has all the detail. Meta beat expectations on the top and bottom lines reporting its fastest growth in two year, 23 Revenue Growth in the third quarter. Thats ahead of the 21 that analysts expected. Now, for the Fourth Quarter meta provided a revenue Guidance Range with a midpoint just a hair below analysts consensus and metas year of efficiency, the Company Brought do ....
Trade overall, it takes us to our talk of the tape, the great bounce back for stocks and whether it is sustainable. Lets ask adam parker, ceo. You are not so sure this is sustainable and more cautious in a few months . Yes, last week when we spoke, conditions are still the same, an equal chance of a 10 up versus 10 down, that makes me less confident because the data are mixed. For every good thing, i get upside on retail sales, down on housing. There is some good and some bad and enough to feed the bulls and bears. You have to get to a soft landing somehow isnt that the definition are you looking for where are you looking for the economy to keep rolling along and figuring out the inflations way to work in your favor even if it didnt . Erode not imploded, the hominid dialects we knew we were going to slow but at what pace . The good news is, you dont have a synchronous contraction, so many things the cycles were at different times, housing on a different cycle than auto. On the things t ....
Unimpressed. Is this a sign that the ev maker can get back on track, or will a different reality set in for the stock . Im Courtney Reagan in this evening for melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, Karen Finerman, dan nathan, and guy adami. And we start off with meta shares plunging 11 after the company gave weak revenue guidance for the year. It also said capex would be higher than expected thatowing a beat on the top and bottom line it could be the worst drop since october 2022 Julia Boorstin is here to dig into the details what else stands out to you . Well, courtney, the better than expected results were very much outweighed by that lighter than expected Second Quarter revenue guidance, as well as higher tha ....