Apple iPhones exceed Wall Street expectations with corporate news

par Stephen Nellis

July 27 (Reuters) – Apple released its quarterly results on Tuesday, beating analysts’ expectations as consumers grabbed high-end versions of iPhone models with 5G capabilities and signed off on services from the company to Apple.

Driven by better-than-expected iPhone sales, Apple’s overall sales in the April-June period were $ 81.43 billion, a 36.4% increase over consensus, giving $ 73.30 billion in revenue.

Earnings per share were 30 1.30, back above ratings, to $ 1.01, according to Refinitiv’s IBES data.

These results caused mixed reactions among investors, with Apple releasing gains before retreating into post-trading on Wall Street.

The company had its strong sales in China, where CEO Tim Cook told Reuters that customers have come for jewelry like the Apple Watch. Sales rose 58% to $ 14.76 billion in the third quarter ended June 26.

“This is not just the iPhone, we have set a new record for Mac, home and parts and services,” said Tim Cook, Apple’s China business.

So far, the company at Apple seems to have avoided the global shortage of semiconductors.

Global iPhone sales for the quarter stood at $ 39.57 billion, up 50% year-over-year, while analysts expect $ 34 billion in sales.

In an interview with Reuters, Tim Cook pointed out that the iPhone 12 Pro and iPhone 12 Pro Max are among the top-selling models of the smartphone.

Apple’s service revenue reached an all-time high of $ 17.49 billion, up nearly a third from the same period last year and above consensus. (Stephen Nellis report in San Francisco; French edition Jean Tergion)