Apple stock falls on weak sales to China.

Sharing is Caring!

Apple
reported fiscal first-quarter earnings Thursday that beat estimates for revenue and earnings, but it showed a 13% decline in sales in China, one of its most important markets.

Apple shares fell more than 4% in extended trading after management provided some details about outlook for the current quarter that suggested weakness in iPhone sales.

See also  Former Bank of China chairman indicted for bribery in nation's long-running anticorruption drive

Here’s how Apple did versus consensus expectations from LSEG, formerly known as Refinitiv, for the quarter ending Dec. 30:

Earnings per share: $2.18 vs. $2.10 expected
Revenue: $119.58 billion vs. $117.91 billion expected
Here’s how Apple’s product lines did versus LSEG expectations:

See also  Barrick (GOLD) Q4 Earnings Surpass Estimates, Sales Miss

iPhone revenue: $69.70 billion vs. $67.82 billion expected
Mac revenue: $7.78 billion vs. $7.73 billion expected
iPad revenue: $7.02 billion vs. $7.33 billion expected
Other Products revenue: $11.95 billion vs. $11.56 billion expected
Services revenue: $23.12 billion vs. $23.35 billion expected
Gross margin: 45.9% vs. 45.3% expected

www.cnbc.com/2024/02/01/apple-aapl-earnings-report-q1-2024.html

Views: 24

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.