Apple posted better than expected earnings

By: Miguel A. Rodriguez

09:45, 14 September 2020

Apple showed resilience in the pandemic

One of the most anticipated earnings reports has happened. Apple released its quarterly earnings yesterday after the market close.  

The company exceeded analysts’ expectations, marking records. Its revenue increased to $59.7 billion from last year’s $53.81 billion and outperforming the $52.24 billion consensus. 

Apple’s net income came in at $11.25 billion, or an EPS of $2.58, up from a previous $10.04 billion, or $2.18/ share. The expected EPS was $2.05. 

 The quarterly revenue generated from the iPhone segment was $26.42 billion, beating analysts' expectations of $22.2 billion, but failing to outmatch not topping last year's $26.99 billion. 60% of the company's overall revenue came from international sales.

The services segment had a $13.16 billion revenue from $11.45 billion same quarter last year, above the $13.1 billion estimated. Wearables, accessories, and home products brought in $6.45 billion, ahead of the estimates which were looking for $5.98 billion.

Moreover, the company announced the stock split, which will "help support liquidity and attract new investors."

In after-hours trading, Apple shares went up 5.8%. In Q2, the company’s stocks gained 30%, while USA30 added 8%.

Since the beginning of the year, Apple stocks settled up 31%, outperforming TECH100, which added 22.7%.

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.