Fri, March 29, 2024

Apple achieved better-than-expected revenue results

Apple achieved results better than expected

Apple has announced earnings data for its second fiscal quarter, and it had better-than-expected revenue results. Financial results generally beat analysts’ earlier expectations, driven by strong iPhone sales.

However, Apple’s overall revenue fell for the second quarter. Shares of the tech giant rose nearly 2 percent in extended trading last night after the market closed and continued to rise when Apple reported guidance for the current quarter to a level of $169.62 apiece.

Of the standout data, earnings per share came in at $1.52 (vs. $1.43), and total revenue came in at $94.84 billion (vs. $92.96 billion expected, but down vs. to the previous quarter).

Apple reported $24.16 billion in net income during the quarter, compared with $25.01 billion in the prior quarter, while total revenue fell three percent from $97.28 billion in the first fiscal quarter.

Revenues from iPhone sales were the main profit generators at $51.3 billion in a situation where the global mobile phone market experienced a decline of as much as 15 percent.

Apple’s expected drop in income

Analysts also note that sales of Mac computers continue to slide slightly, resulting in 7.17 billion dollars. On the other hand, revenues from services continue to grow, and with the achieved 20.91 billion dollars, they encourage further optimism from investors, reported CNBC.

Apple’s finance director, Luca Maestri, said the company expects total revenue to decline by around three percent in the current quarter.

He added that the company faces macroeconomic challenges in digital advertising and mobile games, part of Apple’s services business.

The company decided to increase the dividend by four percent, to 24 cents per share.

YOU MAY ALSO LIKE

Wibest – NZD/USD: New Zealand dollar notes and coins.

Quick Look: NZD/USD drops below 0.6000 due to a stronger USD and

Dollar edges back from a 16-month peak

Quick Look: The dollar strengthens against major currencies before the crucial U.S.

Ford

Quick Look: CVA Family Office LLC snaps up 4,559 shares of Ford

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex in