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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 says chip shortage reaches iPhone, growth forecast slows
By Stephen Nellis
Reuters
(Reuters) -Apple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower.
Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4% growth rate in the just-ended third quarter. Growth will also slow in Apple s closely watched services business, they said.
In a conference call with investors, Apple executives also said that while the impact of the chip shortage was less severe than feared in the third quarter, it will get worse in the fourth, extending to iPhone production.
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.
Apple says chip shortage reaches iPhone, growth forecast slows
The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium July 2, 2021. REUTERS/Yves Herman
July 28, 2021
By Stephen Nellis
(Reuters) -Apple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower.
Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4% growth rate in the just-ended third quarter. Growth will also slow in Apple’s closely watched services business, they said.