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US EARNINGS: Apple Reports "Best Quarter Ever" As Revenue Grows 4%, China Misses

US EARNINGS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Apple reported Q1 revenue of $124.3B (+4% YoY), slightly beating estimates. EPS came in at $2.40, topping the $2.35 forecast.
  • iPhone revenue fell 0.8% YoY to $69.1B, missing the $71B estimate. Weak demand and competition in China weighed on sales.
  • Greater China revenue plunged 11% to $18.5B, well below the $21.6B estimate. Huawei and local brands gained market share, adding pressure on Apple.
  • Mac and iPad performed well, rising 16% and 15% YoY, respectively, both beating estimates. Services revenue hit an all-time high of $26.3B (+14% YoY).
  • Apple’s cash reserves dropped 26% YoY to $30.3B, below the expected $36.4B. Operating expenses rose 6.6% to $15.4B.
  • The stock initially surged 3% after hours but later erased gains as concerns over iPhone demand and China’s slowdown weighed on sentiment.
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  • Apple reported Q1 revenue of $124.3B (+4% YoY), slightly beating estimates. EPS came in at $2.40, topping the $2.35 forecast.
  • iPhone revenue fell 0.8% YoY to $69.1B, missing the $71B estimate. Weak demand and competition in China weighed on sales.
  • Greater China revenue plunged 11% to $18.5B, well below the $21.6B estimate. Huawei and local brands gained market share, adding pressure on Apple.
  • Mac and iPad performed well, rising 16% and 15% YoY, respectively, both beating estimates. Services revenue hit an all-time high of $26.3B (+14% YoY).
  • Apple’s cash reserves dropped 26% YoY to $30.3B, below the expected $36.4B. Operating expenses rose 6.6% to $15.4B.
  • The stock initially surged 3% after hours but later erased gains as concerns over iPhone demand and China’s slowdown weighed on sentiment.