ASX LIVE: ASX to rise; Alphabet, Atlassian tumble on earnings

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 90%

Business News News

Business Business Latest News,Business Business Headlines

BREAKING: ASX futures up 0.3pc, S&P 500, Nasdaq retreat from session highs. Apple, Amazon report. ECB, Bank of England lift rates 0.5pc. Follow for updates.

Apple reported sales and profits that missed Wall Street expectations driven by weak iPhone sales after COVID lockdowns in China disrupted production of the company’s biggest seller.

Apple sales fell 5 per cent to $US117.2 billion and were down in every part of the world in the quarter. Sales from each product category dropped, except for gains in services and iPads. Earnings per share were $US1.88, Apple’s first miss of Wall Street’s profits expectations since 2016. During its fiscal first quarter ended December 31, Apple faced a wave of challenges that left Wall Street expecting lower sales. Chief among those were supply chain pressures when COVID lockdowns at a production facility in Zhengzhou, China, slowed production of iPhone 14 Pro and Pro Max devices, both premium priced models that would traditionally help drive Apple’s margins higher.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines