In Q4, Apple reported better-than-expected figures
Analysts were looking for an EPS of $0.71, but the actual figures topped the consensus, coming in at $0.73. The revenue came in at $64.70 billion, ahead of the $63.98 billion estimated.
But the revenue generated by iPhone fell from $33.4 billion to $26.4 billion. The significant drop from last year’s figures is believed to have been caused by consumers having waited to buy the iPhone 12. Apple expects the revenue generated by iPhone to pick up in the next quarter. The revenue from this device makes up nearly half of the overall figures.
The services sector brought revenue that topped both the estimates and the last year’s figures, coming in at $14.55 billion.
For the future, Apple didn’t provide any outlook, but investors expect in November the first Mac computers made with its processors instead of Intel’s.
Despite the promising numbers, following the report, Apple stock price closed 3.5% lower. Year-to-date, the company’s stock price gained 57%.
Stay updated with the latest earnings reports here!
Sources: theverge.com, investing.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.