Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Apple Beats on Top and Bottom Lines; Shares Climb

Published 04/30/2019, 04:40 PM
Updated 04/30/2019, 05:10 PM

Investing.com - Apple reported fiscal second-quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.

The company reported earnings per share of $2.46 on revenue of $58.02 billion. Analysts polled by Investing.com expected EPS of $2.37 on revenue of $57.58 billion. That compared to EPS of $2.73 on revenue of $61.14 billion in the same period a year earlier.

Apple shares (NASDAQ:AAPL) gained 4% in after-hours trading following the report. If the $211.25 price holds on Wednesday, Apple's market capitalization will top $1 trillion for the first time since Nov. 2. Microsoft (NASDAQ:MSFT) had its first close with a $1-trillion market cap on Tuesday after briefly topping $1 trillion twice last week.

Apple’s iPhone revenue fell 18% from the year-ago period to $31 billion, in line with expectations, according to Briefing.com. Services revenue jumped 24% to $11.4 billion, also in line with forecasts.

For its fiscal third quarter, Apple predicts revenue of $52.5 billion to $54.5 billion, compared with the consensus forecast of $52.09 billion compiled by S&P Capital IQ.

Apple also raised its quarterly dividend to 77 cents per share from 73 cents per share.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar.

Latest comments

It looked like the report leaked just before the market closed
It beat adjusted target.
Even though growth is slowing its a rigged mess
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.