Apple and Amazon are set to release their financial results this week. Analysts will be paying attention to the growth of the iPhone, Apple's services business, and any updates on its AI strategy. Amazon's earnings will highlight the performance of its cloud computing business, AWS, and potential dividend announcements.
Paramount Global reported a quarterly profit but missed revenue expectations, with advertising and filmed entertainment underperforming. Paramount+ streaming service saw strong growth to 67.5 million subscribers and posted significant revenue increases, aiming for profitability in 2025. The company is considering sale options, but talks with Warner Bros. Discovery have stalled. Recent layoffs impacted 800 employees amidst declining TV media revenue.
Aramco's 2023 earnings of $121.3 billion, though lower than 2022's record, mark its second-best year due to a strong oil market. Despite reduced costs in refining and chemical production, the company raised its dividend payout. Aramco plans to increase gas production while maintaining its oil output at 12 million barrels per day, anticipating a robust oil market despite economic challenges.
