Apple reported higher than expected results for the June quarter on Tuesday, and the company's revenue returned to growth after two consecutive quarters.
The stock rose more than 3% after the close of trading.
Apple's forecast was strong, exceeding analyst expectations, suggesting that demand for Apple products stabilized in the critical second half of the year.
Thus, the company has behaved against analyst expectations:
- Earnings per share: $ 2.18 versus $ 2.10, estimated by consensus from Refinitiv.
- Turnover: $ 53.8 billion against [$1
- Q4 Sales Forecast: $ 61 to $ 64 billion compared to [$1965900] $ 60.98 billion, as estimated from the consensus estimate of refinements.
- iPhone sales : FactSet estimates $ 25.99 billion against $ 26.31 billion.
- Income from Services : $ 11.46 billion compared to $ 11.61 billion estimated by FactSet.
"We are pleased to announce a return to growth for the quarter, and it is also a record third-quarter revenue that we've never experienced before," said Tim Cook, Apple CEO, to Josh Lipton from CNBC.
Apple Sales increased 1% year-on-year. Earnings per share fell 7%.
"Great service quarter, incredible wearables, significant advances in iPhone, and unexpected significant progress on China compared to our previous quarter," he continued.
Apple said it had spent more than $ 17 billion on share repurchases of nearly 88 million Apple shares and $ 3.6 billion in dividends and equivalents in the quarter.
Strong growth in wearables and services
Apple's iPhone sales were slightly below analyst expectations, partially offset by strength in the Mac and wearables sectors. Apple's wearables business includes Apple Watch, AirPods and Beats headphones. According to Apple CFO Luca Maestri, the product category has "accelerated".
Services revenue, which includes subscriptions, app store fees, and other online services, grew 13%, in line with analyst expectations. Almost 64%, contributing to Apple's business performance.
Critical Chinese Market
Apple also exceeded expectations in China, which was one of the main reasons for disappointing quarters earlier this year. A Chinese VAT cut was a great help and saw no signs of a nationalist boycott of Apple products in China.
"Value-added tax has been reduced from 16% to 13, which is clearly a big help, we've taken price action, that's a big help, we've introduced trade-in and financing, that's a big help, the more subjective "If the countries meet and talk, that's better than not," Cook told CNBC.
Apple reported sales of $ 9.61 billion in the Greater China category, which includes Taiwan and Hong Kong.