Apple Earnings Recap
Apple's revenue and EPS exceeded estimates, but iPhone revenue and China sales missed expectations.
Apple's revenue grew 8% year over year to $102.5 billion, beating estimates, and EPS grew 13% year over year to $1.85. However, sales in China decreased from the year-ago period, missing estimates.
The iPhone generated $49.02 billion in revenue, slightly missing Wall Street's estimates of $49.33 billion. After the results, the stock initially dipped 3% but later rose 5% after hours.
Tim Cook discussed AI and other topics in an earnings call, where Apple announced plans to increase capex spending in the holiday quarter, driven by expanding AI investments.
Author's summary: Apple's earnings beat estimates, but struggles in China continue.
More News
- Topsoe launches 500MW electrolyser facility in Denmark
- Sabrina Carpenter ‘Arrests’ Corey Fogelmanis In 'Girl Meets World' Reunion
- Report on Waterford's public lighting network expected to be complete by early next year - News - Waterford News & Star
- 10 tracks that prove MF DOOM was the master of samples
- WME’s Kirk Sommer Named MUSEXPO’s ‘International Music Person of the Year’
- Meta’s Chatbot Data Grab Sparks Privacy Alarm
- Privacy laws can’t keep up with ‘luxury surveillance’