Apple’s earnings report surprises investors
Apple yesterday released its earnings report for the June quarter and investors were left pleasantly surprised. Even though overall revenue and iPhone sales were down year over year, the decline wasn't nearly as bad as many analysts and investors were anticipating. As a result, shares of Apple jumped up nearly 7% in after-hours trading on Tuesday.As for the nitty gritty details, Apple during the June quarter generated $42.4 billion in revenue while enjoying a quarterly profit of $7.8 billion. By way of contrast, Apple in the same quarter a year-ago posted revenue of $49.6 billion and a profit of $10.7 billion."We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” Tim Cook said in a press release. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”To read this article in full or to leave a comment, please click here
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CORD is hosted by the Linux Foundation.