Apple reported earnings for its June quarter on Tuesday that were above expectations, and the company’s revenue returned to growth after two straight down quarters.
The stock rose more than 4% in after-hours trading.
Apple’s guidance was strong and beat analyst expectations, suggesting that demand for Apple products is stabilizing headed into the critical second half of the year. Apple also declared a cash dividend of $0.77 per share.
Here’s how the company did versus what analysts were expecting:
EPS: $2.18 vs. $2.10 estimated by Refinitiv consensus estimates.
Revenue: $53.8 billion vs. $53.39B estimated by Refinitiv consensus estimates.
Q4 revenue guidance: $61 billion to $64 billion versus $60.98 billion estimate by Refinitiv consensus estimates.
iPhone revenue: $25.99 billion vs. $26.31 billion estimated by FactSet.
Services revenue: $11.46 billion vs. $11.61 billion estimated by FactSet.
“We’re very excited to report a return to growth for the quarter, and it’s a record revenue for Q3 as well, best we’ve ever had,” Apple CEO Tim Cook told.
Apple’s revenue was up 1% from the year-ago quarter. Earnings per share were down 7%.
Source: CNBC
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