Apple posts stronger-than-expected revenue in first earnings report for new CEO John Ternus
Summary
Apple reported fiscal third-quarter revenue of $114.5 billion, up 12% from a year earlier and above analysts’ expectations. The results were the first earnings report since John Ternus became CEO in September; Apple also reported higher net income and record iPhone revenue, according to the article.Key Facts
- Apple earned $30.71 billion, or $2.10 per share, in the July-to-September quarter.
- Net income rose 12% from $27.47 billion, or $1.85 per share, a year earlier.
- Revenue increased 12%, from $102.5 billion to $114.5 billion.
- Analysts had expected earnings of $1.99 per share and revenue of $113.4 billion, according to FactSet.
- Apple said tariff refunds added five cents per share to earnings.
- The article says iPhone revenue reached a record and that Apple saw strong growth in China.
- John Ternus became Apple’s CEO in September.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
