The company’s revenue was slightly better than what Wall Street had expected, but it nonetheless represented the second consecutive quarterly revenue decline for the iPhone maker. Apple’s net income also fell more than 3% from the year-ago quarter to nearly $24.2 billion. Apple\n \n attempted to appease investors by announcing up to $90 billion in share buybacks. Apple\n \n shares rose just over 1% in after-hours trading Thursday following the results.
Worldwide PC shipments declined 30% in the first quarter of 2023 compared to the year prior, according to data from Gartner. Global smartphone shipments plunged 14.6% last quarter, according to separate data from market intelligence firm IDC. Still, the company’s better-than-expected sales report “suggests that Apple’s premium smartphone business may be insulated from concerns about deteriorating consumer confidence and a worsening macroeconomic outlook,” Investing.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why the Fed will likely raise rates two days after First Republic failed | CNN BusinessFor the second time this year, the Federal Reserve is gearing up to raise interest rates right after a bank failure.
Source: CNN - 🏆 4. / 95 Read more »
Go First bankruptcy isn't the end of the Indian airline, says owner | CNN BusinessGo Airlines (India) Ltd owner Wadia Group is completely committed to the airline and had no plans to exit it, the airline's chief executive told Reuters in an interview on Wednesday.
Source: cnni - 🏆 326. / 59 Read more »
First Horizon stock tumbles 50% after TD Bank merger collapses | CNN BusinessFirst Horizon and TD Bank have called off a $13 billion deal that would have formed America's sixth-largest bank, adding to the turmoil sweeping the country's regional lenders.
Source: CNN - 🏆 4. / 95 Read more »
Starbucks' new CEO lays out improvement plan | CNN BusinessDuring his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance. He outlined how he thinks stores can better meet demand. He didn't mention the unionizaton drive sweeping through stores, however.
Source: cnni - 🏆 326. / 59 Read more »
Tesla raises car prices globally, with the biggest increase in China | CNN BusinessTesla has raised prices in its most important electric vehicle markets, including China and the United States, reversing a series of recent price cuts that have pushed the company's profit margin to the lowest since 2020 and sparked a price war.
Source: cnni - 🏆 326. / 59 Read more »