Apple Tops Quarterly Forecasts, Guides Sales in Line By Investing.com

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Apple Tops Quarterly Forecasts, Guides Sales in Line

Stock Markets Oct 30, 2019 04:44PM ET

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Apple Tops Quarterly Forecasts, Guides Sales in Line

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Investing.com – Apple reported fiscal fourth-quarter earnings that beat analysts' expectations on Wednesday and revenue that topped forecasts.

The company also guided sales in line with expectations for its fiscal first quarter, the all-important holiday shopping period and the first full quarter for sales of the iPhone 11, which has helped rejuvenate interest in its handsets.

The company reported earnings per share of $3.03 on revenue of $64.04 billion. Analysts polled by Investing.com anticipated EPS of $2.83 on revenue of $62.94 billion. That compared to EPS of $2.91 on revenue of $62.9 billion in the same period a year earlier.

It guided fiscal first-quarter sales of $85.5 billion to $89.5 billion, compared with the consensus forecast of $86.2 billion from S&P Capital IQ. The midpoint of the guidance was slightly above expectations at $87.5 billion.

Apple shares (NASDAQ:AAPL) gained 1.8% in after-hours trading.

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