Apple-Parent Meta Report Earnings China's Sales Fell 13%

 

Apple-Parent Meta Report Earnings; Amazon; Facebook

 

Notwithstanding Beat Earnings, Apple Stock Drops. Its Services Division Stopped Operating. China's Sales Fell 13%

 

Following the news release of the December quarter data by the firm, Apple shares saw a decrease in late Thursday trade. According to Wall Street estimates, service growth was less than anticipated but iPhone sales were strong.

Additionally, Apple revealed a concerning downturn in its China operation news. Samsung and other companies are posing a fresh threat to the corporation in the smartphone industry. Sales in Greater China were $20.8 billion, a 13% decrease from the previous year.

During the company's results conference call, CEO Tim Cook stated. China had a mid-single-digit decline in iPhone sales. It suggests that other hardware goods will see greater decreases.

The business stated that it currently has more than 2.2 billion installed active devices.

 

Apple reported news of $119.6 billion in revenue for the quarter, 2% more than the same period last year. Apple's revenue figures ended a run of four consecutive quarters of decreases. The profit per share was $2.18, above the $2.11 Wall Street consensus estimate. The gross margin increased to 45.9% from 43% in the same period last year. It has increased by 70 basis points in a row.

 

The most recent quarter, according to the firm, lasted 13 weeks. It was a 14-week stretch last year.

 

Revenue from iPhones was $79.7 billion, a 6% increase news revealed. the surpasses the $65.8 billion Wall Street consensus estimate. The income from iPhone services was $23.1 billion news exposed. iPhone sales were up 11% and it was at $23.3 billion. They fell just short of expectations in revenue as news has shown.

 

ü Mac sales were $7.8 billion, almost unchanged from the previous year. Sales revenue for Mac is slightly less than expected at $7.9 billion.

ü Sales of iPads were $7 billion, a 25% decrease. iPad sales revenue was less than the $7.4 billion predicted by the Street.

 

ü Revenue from accessories, homes, and wearables was $12 billion. At $11.3 billion, it is higher than expected but 11% lower than a year ago.

ü $96.5 billion in total product sales, almost unchanged from the previous year.

ü America's revenues increased by 2% to $50.4 billion.

ü Sales in Europe increased by 10% to $30.4 billion.

ü Japan's sales increased by 15% to $7.8 billion.

ü The remaining Asia Pacific area saw $10.2 billion in sales, a 7% increase.

Following the news story, Apple shares fell 1.7% in after-hours trade.

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