Apple quarterly earnings top expectations despite economic gloom

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Sales of iPhones tallied US$51.3 billion in the quarter, topping the same period a year earlier, according to earnings figures. theSun theSundaily iphone Apple revenue economy China

SAN FRANCISCO:

“We are pleased to report an all-time record in services and a March quarter record for iPhone despite the challenging macroeconomic environment,” Apple chief executive Tim Cook said in an earnings release. Though Apple has made noise with its expansion into India, China remains the iPhone maker's crucial supplier and a key market.

Sales of Macs slipped to about US$7.2 billion as belt-tightening around the world hit the entire personal computer market. Apple said revenue from services stood at US$20.91 billion, defying expectations that demand for streaming entertainment would fall with the end of restricted life due to the Covid pandemic.

For the moment investors seemed satisfied, with shares rising about 2% in after-hours trading after the forecast.

 

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:

 /  🏆 25. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple earnings top expectations despite economic gloom | The Malaysian InsightApple earnings top expectations despite economic gloom
Source: msianinsight - 🏆 8. / 63 Read more »