Apple revenues rise on strong services business and iPad sales

Apple’s revenue increased 5 per cent in the three months to the end of June, as earnings from its services business and a surge in iPad purchases offset a decline in iPhone sales and a continued slowdown in China. Total net sales rose to $85.8bn from $81.8bn in the second quarter of 2023, beating analysts’ expectations for $84.5bn. Net income rose 8 per cent to $21.4bn from $19.9bn, while earnings per share were up 11 per cent year on year to $1.40 versus the consensus estimate for $1.35.

“ focus will be on underlying demand across various product categories, especially iPhones given concerns around overall smartphone market and China competition,” said Citigroup analyst Atif Malik. Apple is bullish at the prospect of many customers upgrading to the newest iPhone models to gain access to new artificial intelligence features. With the iPhone 16 expected to launch in September, investors are watching closely for signs of how quickly the anticipated AI boost will start to show.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

The winners and losers among today's flurry of company resultsFinancial reports on Thursday reveal how firms have adjusted to higher inflation by seeking to cut costs or increase efficiencies - some with more success than others.
Source: SkyNews - 🏆 35. / 67 Read more »

'I found a £9 Aldi candle that smells like The White Company's £65 version'Aldi's new £8.99 candle scent is being compared to £65 offerings from luxury brand The White Company
Source: MENnewsdesk - 🏆 23. / 69 Read more »

Preston woman thanks Fulwood fencing company who saved her puppyNelly had just celebrated her first birthday the day before. Pic: Gaby A woman from Preston has reached out to thank a fencing company based in Fulwood who
Source: blogpreston - 🏆 82. / 55 Read more »

I went to the old-school café with great food, company and gorgeous viewsI've walked past Franco's thousands of times but never thought to stop by
Source: EchoWhatsOn - 🏆 74. / 59 Read more »

Tinder parent company cuts jobs as subscriber numbers slumpThe number of people paying for the world's most popular dating app has continued to slide.
Source: BBCTech - 🏆 81. / 55 Read more »