October 30, 2025 • 6 mins
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Speaker 1 (00:01):
News when you want it With Bloomberg News Now, I'm
Doug Chrisner. We begin with earnings after the bell. Apple
reported revenue in Greater China fell well short of analyst
estimates in the latest quarter, a drop of three point
six percent to fourteen and a half billion dollars. Now,
Apple has been facing increased competition from local smartphone providers
(00:21):
in China, and the company has also struggled to offer
AI features in the country. Even with the disappointing sales
in China, Apple's overall revenue growth was eight percent in
the latest quarter, and we got reaction from Giluria, head
of Technology research at DA Davidson.
Speaker 2 (00:37):
If we can count on anything China to contribute to Apple,
it's volatility the quarter to quarter results. They're very so
widely and often the checks that we hear ahead of
a quarter are directionally wrong or completely wrong, as is
the case this time. Some of that has to do
with some selling upfront last quarter. They had better activity
(01:01):
last quarter. They probably sold into the channel more than
the market required, which is why we're seeing it down
this quarter.
Speaker 1 (01:08):
Gai Luria there from DA Davidson. Now, Apple also gave
an upbeat forecast for the holiday season, saying revenue will
rise between ten and twelve percent in the current quarter.
Shares and Apple were up more than four percent in
late US trading. We also heard from Amazon the company's
cloud unit posted its strongest growth rate in nearly three years.
(01:29):
Amazon Web Services had revenue in the latest quarter of
thirty three billion dollars. That's an increase of twenty percent
from the prior year. We got reaction from Scott Debit,
equity research analyst at Webbush Securities.
Speaker 3 (01:42):
The AWS numbers in the overall numbers for Amazon here,
this is the cleanest quarter this company's had in some time.
There's a few normalizations in the quarter relating to the
operating in company that were one tine items, so when
you adjust for that, they actually beat on operating income.
They moderately beat on revenue. But the most important and
was the twenty percent AWS growth because now you're going
(02:03):
to start getting a bigger contribution from Anthropic in the
ABS business as well, So there's kind of an upport
trajectory in terms of growth rate going into twenty twenty six.
Speaker 1 (02:12):
That is Scott Devitt from Webbush Security. Shares and Amazon
are up fourteen percent in late US trading. Netflix is
reportedly exploring a bid for Warner Brothers Discovery studio and
streaming business. Reuters is reporting that Netflix has been granted
access to the so called data room that contains the
financial details necessary to make an offer for the company.
(02:36):
It's day thirty of the government shutdown, and congressional lawmakers
are no closer to negotiating a bill to reopen the government.
Funding for food assistance programs is set to expire this week. Meantime,
Democrats say they want to have conversations about extending Affordable
Care Act subsidies. Republicans say they won't have those conversations
(02:57):
until the government is reopened. Now, the shutdown has forced
air traffic controllers and TSA agents to work without pay,
and that has led to staff shortages and flight disruptions.
Here is Vice President JD. Vance.
Speaker 4 (03:11):
All we need to end the craziness, to pay the
air traffic controllers, to pay the TSA agents, to pay
the pilots, to make sure that food stamp benefits continue
to go out to the American people who need them.
All we need is five reasonable Democrats to join three
moderate Democrats and fifty two Republicans to reopen the government.
Speaker 1 (03:30):
Vice President JD Vance there the US and China have
reached a one year truce in their trade war. The
US has cut the fentanyl tariff and extended the existing
truthces on reciprocal tariffs from the China side. The country
has started buying US soybeans again. Treasury Secretary Scott Bessant
weighed in on the US China trade relationship.
Speaker 5 (03:51):
My guess is a year from now will be back
to the table and we'll get another delay, another role
because whatever no one misses is the Chinese have rarers,
but we have President Trump threat on tariffs.
Speaker 1 (04:07):
US Treasury Secretary Scott besson speaking earlier to Fox News,
he went on to say the US has a chance
to build up its rare earth industry. Goldman Sachs CEO
David Solomon says the level of US debt risk a
reckoning for the American economy if the pace of growth
does not improve. Even so, Solomon does not see the
(04:27):
US moving into a recession.
Speaker 6 (04:29):
We've got a big, diverse economy. It's in pretty good
shape at the moment. There are things we can't see
that could set it off. But I think the chance
of a recession and the near term is low. But
that's one of the things about sentiment shifts and changes
and surprises.
Speaker 2 (04:44):
You generally don't see.
Speaker 6 (04:44):
Them until they're right in front of you, and I
certainly think we're late cycle.
Speaker 1 (04:49):
Goldman Sachs CEO David Solomon, speaking on the David Rubinstein
Show Peer to Peer Conversations hosted by the Economic Club
of Washington. The Department of Justice his investigating whether leaders
in the Black Lives Matter movement defrauded donors they contributed
tens of millions of dollars during racial justice protest back
in twenty twenty. Now, federal law enforcement officials have issued
(05:13):
subpoenas and served at least one search warrant as part
of an investigation into the Black Lives Matter Global Network
Foundation and other black led organizations. Passengers on a Jet
Blue flight from Mexico to Newark, New Jersey, were taken
to a hospital after an emergency landing in Florida. Jet
Blue said during the flight, the aircraft's altitude fell and
(05:36):
it was diverted to the Tampa International Airport. Here is
audio of one of the Jet Blue pilots telling the
tower the flight was experiencing both a technical and a
medical issue. It's both issues because of a black patrolitionary
cost of Metropolis. The FAA said it's investigating this incident,
(05:58):
and that is news when you wanted with Bloomberg News.
Now I'm Doug prisoner and this is Bloomberg
Speaker 5 (06:06):
M
News when you want it With Bloomberg News Now, I'm
Doug Chrisner. We begin with earnings after the bell. Apple
reported revenue in Greater China fell well short of analyst
estimates in the latest quarter, a drop of three point
six percent to fourteen and a half billion dollars. Now,
Apple has been facing increased competition from local smartphone providers
(00:21):
in China, and the company has also struggled to offer
AI features in the country. Even with the disappointing sales
in China, Apple's overall revenue growth was eight percent in
the latest quarter, and we got reaction from Giluria, head
of Technology research at DA Davidson.
Speaker 2 (00:37):
If we can count on anything China to contribute to Apple,
it's volatility the quarter to quarter results. They're very so
widely and often the checks that we hear ahead of
a quarter are directionally wrong or completely wrong, as is
the case this time. Some of that has to do
with some selling upfront last quarter. They had better activity
(01:01):
last quarter. They probably sold into the channel more than
the market required, which is why we're seeing it down
this quarter.
Speaker 1 (01:08):
Gai Luria there from DA Davidson. Now, Apple also gave
an upbeat forecast for the holiday season, saying revenue will
rise between ten and twelve percent in the current quarter.
Shares and Apple were up more than four percent in
late US trading. We also heard from Amazon the company's
cloud unit posted its strongest growth rate in nearly three years.
(01:29):
Amazon Web Services had revenue in the latest quarter of
thirty three billion dollars. That's an increase of twenty percent
from the prior year. We got reaction from Scott Debit,
equity research analyst at Webbush Securities.
Speaker 3 (01:42):
The AWS numbers in the overall numbers for Amazon here,
this is the cleanest quarter this company's had in some time.
There's a few normalizations in the quarter relating to the
operating in company that were one tine items, so when
you adjust for that, they actually beat on operating income.
They moderately beat on revenue. But the most important and
was the twenty percent AWS growth because now you're going
(02:03):
to start getting a bigger contribution from Anthropic in the
ABS business as well, So there's kind of an upport
trajectory in terms of growth rate going into twenty twenty six.
Speaker 1 (02:12):
That is Scott Devitt from Webbush Security. Shares and Amazon
are up fourteen percent in late US trading. Netflix is
reportedly exploring a bid for Warner Brothers Discovery studio and
streaming business. Reuters is reporting that Netflix has been granted
access to the so called data room that contains the
financial details necessary to make an offer for the company.
(02:36):
It's day thirty of the government shutdown, and congressional lawmakers
are no closer to negotiating a bill to reopen the government.
Funding for food assistance programs is set to expire this week. Meantime,
Democrats say they want to have conversations about extending Affordable
Care Act subsidies. Republicans say they won't have those conversations
(02:57):
until the government is reopened. Now, the shutdown has forced
air traffic controllers and TSA agents to work without pay,
and that has led to staff shortages and flight disruptions.
Here is Vice President JD. Vance.
Speaker 4 (03:11):
All we need to end the craziness, to pay the
air traffic controllers, to pay the TSA agents, to pay
the pilots, to make sure that food stamp benefits continue
to go out to the American people who need them.
All we need is five reasonable Democrats to join three
moderate Democrats and fifty two Republicans to reopen the government.
Speaker 1 (03:30):
Vice President JD Vance there the US and China have
reached a one year truce in their trade war. The
US has cut the fentanyl tariff and extended the existing
truthces on reciprocal tariffs from the China side. The country
has started buying US soybeans again. Treasury Secretary Scott Bessant
weighed in on the US China trade relationship.
Speaker 5 (03:51):
My guess is a year from now will be back
to the table and we'll get another delay, another role
because whatever no one misses is the Chinese have rarers,
but we have President Trump threat on tariffs.
Speaker 1 (04:07):
US Treasury Secretary Scott besson speaking earlier to Fox News,
he went on to say the US has a chance
to build up its rare earth industry. Goldman Sachs CEO
David Solomon says the level of US debt risk a
reckoning for the American economy if the pace of growth
does not improve. Even so, Solomon does not see the
(04:27):
US moving into a recession.
Speaker 6 (04:29):
We've got a big, diverse economy. It's in pretty good
shape at the moment. There are things we can't see
that could set it off. But I think the chance
of a recession and the near term is low. But
that's one of the things about sentiment shifts and changes
and surprises.
Speaker 2 (04:44):
You generally don't see.
Speaker 6 (04:44):
Them until they're right in front of you, and I
certainly think we're late cycle.
Speaker 1 (04:49):
Goldman Sachs CEO David Solomon, speaking on the David Rubinstein
Show Peer to Peer Conversations hosted by the Economic Club
of Washington. The Department of Justice his investigating whether leaders
in the Black Lives Matter movement defrauded donors they contributed
tens of millions of dollars during racial justice protest back
in twenty twenty. Now, federal law enforcement officials have issued
(05:13):
subpoenas and served at least one search warrant as part
of an investigation into the Black Lives Matter Global Network
Foundation and other black led organizations. Passengers on a Jet
Blue flight from Mexico to Newark, New Jersey, were taken
to a hospital after an emergency landing in Florida. Jet
Blue said during the flight, the aircraft's altitude fell and
(05:36):
it was diverted to the Tampa International Airport. Here is
audio of one of the Jet Blue pilots telling the
tower the flight was experiencing both a technical and a
medical issue. It's both issues because of a black patrolitionary
cost of Metropolis. The FAA said it's investigating this incident,
(05:58):
and that is news when you wanted with Bloomberg News.
Now I'm Doug prisoner and this is Bloomberg
Speaker 5 (06:06):
M
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