Amazon showed Thursday that despite robust holiday spending in the fourth quarter of 2022, its profits did not reflect the same level of success. Although salaries increased by 9% since the same period in 2021, resulting in a market-leading $149.2 billion, the e-commerce giant posted a dismal 3 cents per share, compared to analysts' expectations of 17 cents per share.

This result came despite promises to investors that it would cut costs. Amazon announced layoffs in November 2022, ultimately resulting in thousands of roles being cut. CEO Andy Jassy noted that their selections, value and delivery drove customer demand in the quarter - something that “exceeded expectations.”

Despite promising investments like the funding of electric vehicle company Rivian, the gamble brought Amazon’s balance sheet to a loss of $2.3 billion dollars, triple that of 2021’s $11.8 billion.

Alphabet, the parent company of Google, is preparing to reveal its fourth-quarter earnings report on February 2nd. Investors are cautiously hoping that the tech behemoth will have a strong report to show in light of the tumultuous time the past year has been. As the tech industry evolves and competition increases, Alphabet is pinning its hopes on its AI technology to stay ahead of the curve.

Cloud computing is one area of strength for Alphabet, as its Google Cloud service continues to be a dependable growth driver. Our consensus estimate for Google Cloud revenue stands at $7.3 billion, with year-over-year growth expected to be over 32%. The performance of rival Microsoft's Intelligent Cloud was also encouraging, with revenue exceeding expectations and growing 18% year-over-year. Alphabet hopes to perform similarly.

Unfortunately, Google's advertising business has been struggling. Digital advertising as a whole has been

Asia's richest man, Gautam Adani, is turning to IPOs to expand his port-to-power conglomerate, Adani Group. The group's Chief Financial Officer, Jugeshinder Singh, announced plans to list at least five businesses - Adani New Industries, Adani Airport Holdings, Adani Road Transport, AdaniConnex, and metals and mining units - on the public market between 2026 and 2028. This move will help the group improve debt ratios and open the opportunity for broadened investor reach.

Shares of Adani Enterprises, the flagship group company, finished Monday with a 4.76% uptick. This rise follows a response from the conglomerate to the Hindenburg Research report critiquing the Adani Group's "elevated" leverage. Adani Enterprises is launching its follow-on public offering at a discount, allowing payments in three installments to attract domestic investors - a move that will help the thinly traded stock increase liquidity and reduce debt.

Institutional investors are showing their support for the Rs 20,000-crore FPO, believing that the under-inc