Apple shares jump in the aftermarket after better-than-expected earnings

30.10.2019 / 23:22

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Apple reported fourth-quarter earnings that beat analyst expectations on Wednesday, thanks to strong performance in services and its fast-growing wearables business. Apple stock rose over 1% in after-hours trading.

Here’s how the company did compared with Refinitiv consensus estimates:

Revenue: $64 billion vs. $62.99 billion estimate.
EPS: $3.03 vs. $2.84 estimate.
Q1 revenue guidance: $85.5 billion to $89.5 billion vs. $86.92 billion estimate.
iPhone revenue: $33.36 billion vs. $32.42 billion estimate.
Services revenue: $12.51 billion vs. $12.15 billion estimate.
Investors were watching Apple’s guidance for its important holiday quarter, which was in line with analyst estimates. Apple is signaling that it expects growth over last year’s holiday quarter, where it was hit by a major downturn of iPhone sales in China.

Apple CEO Tim Cook highlighted the strong holiday forecast in a statement. “With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store,” Cook said.

Trader Georgi Bozhidarov

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Apple shares jump in the aftermarket after better-than-expected earnings

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