Apple sales fall less than expected, beating Wall Street estimates
Posted: Thu May 02, 2024 11:34 pm
Apple, Inc. posted a year-over-year decline in revenue in its fiscal second-quarter earnings report after the bell on Thursday but still beat Wall Street's expectations.The tech giant's sales fell 4.3% from the prior year, coming in at $90.75 billion. Analysts anticipated $90.01 billion.IPhone sales fell 10.5% to $45.96 billion, in line with expectations. Apple executives said in February the previous year's fiscal second quarter had benefited from a $5 billion surge in iPhone sales as the company caught up from supply chain snarls during pandemic lockdowns.CHINA ORDERS APPLE TO REMOVE WHATSAPP, THREADS, OTHER APPS IN CENSORSHIP MOVE: REPORTShares of Apple rose almost 3% in extended trade after the report. Apple's stock has fallen 10% so far in 2024, underperforming the S&P 500's 6% rise.Apple also announced a share buyback of an additional $110 billion and said it is raising its quarterly dividend for the 12th year in a row.GET FOX BUSINESS ON THE GO BY CLICKING HEREReuters contributed to this report.
Source: https://www.foxbusiness.com/markets/app ... all-street
Source: https://www.foxbusiness.com/markets/app ... all-street