Apple CEO Tim Cook said the company beat Wall Street's sales and revenue expectations in the second fiscal quarter, boosted by higher-than-anticipated iPhone sales helped by Indian customers switching over from Android.The iPhone led sales for Apple in the second quarterThe company has not provided formal guidance, which has been its practice since 2020 during the onset of the Covid-19 pandemic. But Apple executives — per tradition — will discuss the company's financial results in a call with analysts on Thursday. Read more...

Apple CEO Tim Cook said the company beat Wall Street's sales and revenue expectations in the second fiscal quarter, boosted by higher-than-anticipated iPhone sales helped by Indian customers switching over from Android.The iPhone led sales for Apple in the second quarterThe company has not provided formal guidance, which has been its practice since 2020 during the onset of the Covid-19 pandemic. But Apple executives — per tradition — will discuss the company's financial results in a call with analysts on Thursday. Read more...

Apple CEO Tim Cook said the company beat Wall Street's sales and revenue expectations in the second fiscal quarter, boosted by higher-than-anticipated iPhone sales helped by Indian customers switching over from Android.The iPhone led sales for Apple in the second quarterThe company has not provided formal guidance, which has been its practice since 2020 during the onset of the Covid-19 pandemic. But Apple executives — per tradition — will discuss the company's financial results in a call with analysts on Thursday. Read more...

Apple today announced financial results for its second fiscal quarter of 2023, which corresponds to the first calendar quarter of the year. For the quarter, Apple posted revenue of $94.8 billion and net quarterly profit of $24.1 billion, or $1.52 per diluted share, compared to revenue of $97.3 billion and net quarterly profit of $25.0 billion, or $1.52 per diluted share, in the year-ago quarter. Apple set a new all-time record for Services revenue at $20.9 billion and a new March quarter record for iPhone revenue at $51.3 billion, but the Mac in particular saw a significant year-over-year decline in quarterly revenue, falling from $10.4 billion to $7.2 billion. Gross margin for the quarter was 44.3 percent, compared to 43.7…

Apple, set to close out Big Tech earnings Thursday after the market closes, looks to extend Big Tech’s largely positive winning streak. Connor Smith for MarketWatch: Shares of Apple have soared nearly 31% in 2023, though the stock is up just 2.4% over the past 12 months. The S&P 500 is up 7.7% this year and down 3.9% in the past 12 months. So far, Big Tech earnings have been fairly positive. Reports from Microsoft, Alphabet, and Meta Platforms were mostly well received by Wall Street. Amazon.com ‘s results topped estimates but a weak outlook around the cloud sent shares falling. Apple investors are hoping the firm follows in Microsoft’s footsteps, and not Amazon’s. “With Big Tech showing impressive resiliency…

AAPL Q2 2023 earnings will be announced at 2 p.m. PDT/5 p.m. EDT today, and while the company hasn’t offered specific guidance, it has warned that it expects a year-on-year decline of around 5%. Wall Street agrees, with analysts expecting a drop from last year’s record $97.3B – but Apple is expected to demonstrate its own continued confidence in the stock through a large buyback announcement … more… The post AAPL Q2 2023 earnings expected to be down, but stock buybacks to show confidence appeared first on 9to5Mac.