Sabela Ojea


Apple Inc. posted its first quarterly revenue decline in nearly four years as manufacturing disruptions in China curbed its ability to deliver premium iPhones. Shares of the iPhone maker fell 2.4% in after-hours trading on Thursday. Inc. warned of a period of reduced growth and signaled the difficult economic environment is denting the performance of its cloud-computing business that's been a profit engine for the company, despite also beating Wall Street expectations for fourth-quarter sales. Shares of the ecommerce giant dived 4.7% in after-hours trading.


Alphabet Inc. reported its first drop in advertising revenue since the beginning of the pandemic in the fourth quarter. Shares of Google's parent dropped 3.4% in after-hours trading.


Magenta Therapeutics Inc. said it could be up for sale as part of review of strategic alternatives. Shares of the clinical-stage biotechnology company surged 47% in after-hours trading.


Clorox Co. reported better-than-expected profit in its fiscal second quarter as the consumer products company cut costs and adjusted prices to offset inflation. Shares increased 3.6% in after-hours trading.


Write to Sabela Ojea at; @sabelaojeaguix


(END) Dow Jones Newswires

February 02, 2023 19:06 ET (00:06 GMT)

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