Apple Inc. (NASDAQ: AAPL)
Apple announced its second-quarter earnings of fiscal 2018 late Tuesday, edging above consensus analysts’ estimates. The iPhone-maker posted better-than-expected profit and revenue that pushed its stock upward by 4% in the after-hours trading session. Apple earnings is always a big event for traders and investors, so expect the stock be especially volatile today.
The tech giant also raised its quarterly dividend to $0.73 cents a share from $0.63 cents. The company also committed to announced it would use an extra $100 billion on share buyout program.
AAPL Earnings & Outlook
Wall Street had predicted that Apple would report earnings per share of $2.69 but the company announced an EPS of $2.73. Revenue stood at $61.14 billion finishing in-line with the $61.15 billion prediction that analysts had made.
However, the $999 starting price of iPhone X appears have been too high for some consumers. Despite that, Apple said it sold 52.2 million iPhones during the quarter, representing an increase of 3% from a similar period in 2017.
Apple CEO Comments
Apple CEO Tim Cook said the company was thrilled to announce its best second quarter ever, with solid revenue growth in Wearables, iPhone and Services. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan,” said Tim Cook.
Apple Inc. Company Profile
Apple Inc. engages in the design, manufacture, and marketing of media devices, personal computers and mobile communications to consumers, and mid-sized and small businesses; and government, enterprise, and education customers all over the world.
Apple also markets related accessories, software, networking solutions, services, and third-party applications and digital content. It offers a line of smartphones (iPhone), a line of tablets (iPad), and a line of portable person computers and desktop (Mac), as well as operating systems, such as tvOS, iOS, watchOS and macOS.
The tech giant also runs iWork platform that helps users publish, create, and present spreadsheets, documents, presentations and other software applications, such as FileMaker Pro, Logic Pro X, and Final Cut Pro.
It also offers Apple TV that enables consumers to access direct digital content by playing games and music, streaming high definition video, and viewing photos. Further, its sells third-party accessories and Apple-branded items, such as storage devices, headphones, and display devices, computing supplies and products.
Additionally, the company offers a cloud service called iCloud that stores documents, music, photos, calendars, contacts, mail, and others. Apple delivers and sells digital applications and content through the Mac App Store, iTunes Store, TV App Store, App Store, Apple Music and iBooks Store.
Its products are available through its online and retail stores, direct sales force, third-party cellular network carriers, value-added resellers, wholesalers, and retailers. Apple is based in Cupertino, California. –Reuters
