Apple Inc reported holiday quarter sales and profits that beat Wall Street expectations, as new 5G iPhones helped push handset revenue to a new record and sparked a 57% rise in China sales. Apple shipped its iPhone 12 lineup several weeks later than usual, but an expanded number of models and new look tapped pent up demand for upgrades, especially in China. The company also posted strong sales of its Mac laptops and iPads in the quarter, driven by consumers working, learning and playing from home during the pandemic. Apple’s revenue for the quarter ended Dec. 26 rose 21% to $111.44 billion. Earnings per share rose to $1.68 from $1.25, beating Wall Street targets, according to IBES data from Refinitiv. Sales of iPhones were $65.60 billion and beat a record set three years ago. Chief Financial Officer Luca Maestri told investors that revenue growth was likely to accelerate on a year-over-year basis in the current fiscal second quarter and that gross margins were likely to be similar to the fiscal first quarter’s rate of 39.7%. He also said the company’s services segment revenue faced a tough comparison to the year before, when the pandemic lifted sales, and that year-over-year growth… Read full this story
- Nvidia beats Q2 estimates with record data center sales, Mellanox growth
- Apple becomes most valuable American company EVER and worth more than $2 trillion after 60% rise in share price
- Apple unveils new iPhone 5c, iPhone 5s smartphones - live updates
- Apple CEO Tim Cook is fulfilling another Steve Jobs vision
- As Epic attacks Apple and Google, it ignores the same problems on consoles
- Apple becomes first US company to reach $2 trillion in market value amid COVID-19
- Tim Cook completes 9 years as Apple CEO: Continuing the Steve Jobs' legacy
- Your guide to China's biggest phone brands: Huawei, OnePlus, Oppo and more
- At Apple, Tim Cook Leads Quiet Cultural Revolution
- Apple is reportedly gearing up to launch a subscription service that offers bundles for music, news and other products
Apple sees revenue growth accelerating after setting record for iPhone sales, China strength have 316 words, post on www.gadgetsnow.com at January 28, 2021. This is cached page on Technology Breaking News. If you want remove this page, please contact us.