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Apple beats sales expectations on iPhone, services, China strength
28 Jul 2021 - 0:07
FILE PHOTO/REUTERS
Reuters
Apple Inc on Tuesday reported quarterly sales and profits that beat analyst expectations as consumers bought premium versions of its 5G iPhones and signed up for the company s subscription services.
Driven by better-than-expected iPhone sales, total revenue hit $81.43 billion, a rise of 36.4% that was above analyst expectations of $73.30 billion, according to IBES data from Refinitiv.
Earnings were $1.30 per share, above estimates of $1.01 per share, according to Refinitiv.
The results prompted a mixed reaction from investors, with shares moving higher and dipping slightly in after-market trading, declining -0.4% after investors more than doubled the valuation of the company in about three years.
Apple posts a record June quarter thanks to iPhone sales
By
Clare Duffy, CNN Business
Published Jul 28, 2021 9:40:38 AM
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(CNN) More than 14 years after they were first introduced, iPhones are still very much in demand.
Apple on Tuesday announced a massive earnings beat for the three months ended June 26, thanks to a nearly 50% year-over-year jump in iPhone sales to $39.6 billion. The company posted total quarterly revenue increased 36% to $81.4 billion a record for the June quarter and nearly $8 billion above analyst expectations. This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important, Apple CEO Tim Cook said in a statement.
Apple Inc on Tuesday reported quarterly sales and profits that beat analyst expectations as consumers bought premium versions of its 5G iPhones and signed up for the company s subscription services.
Driven by better-than-expected iPhone sales, total revenue hit US$81.43 billion, a rise of 36.4 percent that was above analyst expectations of US$73.30 billion, according to IBES data from Refinitiv. Earnings were US$1.30 per share, above estimates of US$1.01 per share, according to Refinitiv.
The results prompted a mixed reaction from investors, with shares moving higher and dipping slightly in after-market trading, declining -0.4 percent after investors more than doubled the valuation of the company in about three years.
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