Apple Surpasses Expectations with 10% Revenue Growth
Apple Inc. reported a stellar third fiscal quarter, exceeding Wall Street’s projections with a 10% increase in total revenue. The tech giant’s performance, especially driven by strong iPhone sales, marks its most significant revenue growth sence December 2021.
The company announced earnings per share of $1.57 on revenues of $94.04 billion, surpassing the anticipated $1.43 per share on $89.53 billion. iPhone sales alone saw a robust 13% year-over-year increase, contributing $44.58 billion to the total turnover. Mac sales also performed well, bringing in $8.05 billion, though iPad revenue of $6.58 billion fell slightly below estimates. apple’s gross margin stood at 46.5%, edging out the expected 45.9%.
In terms of net profit, Apple achieved $24.43 billion, translating to $1.57 per share, a notable increase from the $21.45 billion ($1.40 per share) recorded in the same period last year. CEO Tim Cook described the quarter as “exceptional from every point of view” in comments to CNBC. he attributed approximately 1% of the company’s 10% revenue growth to customers purchasing multiple products in anticipation of potential tariffs.
Following the release of these strong financial results, Apple’s stock saw a 2% increase in after-hours trading.
Key Details:
- Revenue Growth: 10% year-over-year.
- Earnings Per Share: $1.57 (vs. $1.43 expected).
- Total Revenue: $94.04 billion (vs. $89.53 billion expected).
- iPhone Revenue: $44.58 billion (13% annual growth).
- Mac Revenue: $8.05 billion.
- iPad Revenue: $6.58 billion.
- Gross Margin: 46.5% (vs. 45.9% expected).
- Net Profit: $24.43 billion.
Context: This report highlights Apple’s continued resilience and market dominance, even amidst broader economic uncertainties.The company’s ability to consistently deliver strong financial results underscores its brand loyalty and product innovation. The mention of customers buying products to preempt tariffs suggests a strategic consumer behavior influenced by global trade dynamics.
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