Apple after the bell on Thursday beat Wall Street’s targets for its fiscal third quarter revenue and earning per share (EPS). In subsequent trading, shares fell.
David Marino-Nachison for The Wall Street Journal:
The Cupertino, Calif.-based company earned $1.26 a share on sales of $81.8 billion for the quarter ended July 1. Analysts polled by FactSet had expected Apple earnings of $1.20 a share on sales of $81.8 billion.
“Our June quarter year-over-year business performance improved from the March quarter,” Chief Financial Officer Luca Maestri said in a news release. “During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans.”
MacDailyNews Take: If Mr. Market ever figures out the value of Apple’s rapidly growing Services business, you’ll know that miracles do indeed happen.
After the, uh… less enlightened run panicking for the exits Apple — which, in its slowest quarter, just posted revenue of nearly one billion dollars per day — will be just fine.
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Just typical. Most of the time I don’t think traders have got a fu**ing clue
Apple getting the snot beat out of it while Amazon is popping over 11%. CNBC has had analyst after analyst saying that there’s no innovation at Apple, none whatsoever. ZERO. That’s on Tim Cook. No one made such statements when Steve Jobs was around. You’d get laughed off CNBC if you were dumb enough to claim that.
But with Tim Cook’s “leadership” you can claim that Apple has ZERO innovation and be taken seriously. Whatever meaningful innovation Apple has going on now, it’s invisible.
Tim Cook needs to be fired and fired soon.
Absolutely! If Apple could innovate they’d have overhauled their entire line of Macs, running on their own custom silicon. They’d be absurdly power efficient and ridiculously fast. And surely by now they’d be showing off what would be an amazing first step in a new era of AR and VR. And the phone would be so good that it’d be outselling Samsung to new buyers even in S. Korea. Why can’t they get any of that done? That’s it, I’m outta here. Gonna go with the true innovators like Samsung and Dell.
Yes, the sooner Cook is fired and a creative visionary takes over Apple to lead them to new heights in tech…
No surprise, when nearly 50% of a co’s rev is iPh sales and this quarter’s drop marks the 3rd quarterly decline. Company forecasts more challenges ahead.
Amazon rages for a solid reason…dbl digit rev growth and biggest earnings gain since 4th qrt of ’20.