2023-05-08 07:32:06
Apple quarterly report
The largest IT company has released a quarterly financial report. What is interesting in it?
The company's revenue
fell by 3% to $94.84 billion, although analysts had expected even lower result — $92.96 billion. Net profit for III quarter is $24.16 billion, profit per share — $1.52.
At the same time, more than half of the revenue was generated by the sales of the iPhone, the company's major product — $51.33 billion, which is by 2% more than last year. This is an excellent result, given the fact that overall smartphone sales decreased by 15%.
All other Apple products, including the Apple Watch, Macbook etc., have combined $8.76 billion of sales. Revenue from the App Store and other Apple services grew by 5.5% to $20.9 billion.
These are very good results, which should please investors. The company has a profit, so you need to invest in it. In addition, Tim Cook said that he doesn't plan to cut staff, as it's going in other IT companies. This means that Apple will look even better in comparison with its competitors, the prestige of the company will increase — and then the stocks and the market cap may rise.
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