Friday , February 26 2021

Apple slightly exceeds reduced expectations – Stock Asked | 30/1/19



The smartphone giant Apple revealed the balance sheet for the previous quarter and the whole year, exceeding the expectations.

The Apple iPhone manufacturer has slightly reduced sales due in the first quarter of the fiscal year. The net profit was 19.97 million dollars, with a decrease of $ 20.07 billion a year ago. However, earnings per share increased to $ 4.18 from $ 3.89 due to the smallest amount of shares in circulation. This was more than expected analysts at $ 4.17 per share. However, the prospects for the current quarter give little reason for hope.

Apple has been through difficult weeks. Originally, analysts had a technology group in the quarter with a profit of $ 4.66 expected. But Apple issued a sales notice in early January, the first in almost 17 years. Instead of $ 89 to $ 93 billion, revenue was expected to reach only 84 billion dollars between October and December, also due to weak business in China. This reduced the price of the most expensive company in the world in the fall and diminished the expectations of investors in the quarterly report. With sales of 84.3 billion dollars, Apple now exceeds its own forecast.

Looking to the current quarter to March, Apple announced that it expects sales of $ 55- $ 59 billion. This is much less than the analysts expected with 59,300 million dollars. The gross margin would have to reach 37% to 38%.

Apple suffers a weaker market environment in China and elsewhere, and there is still little indication of an increase in iPhone demand, which brings most sales to the group. In the first quarter, iPhone sales dropped 15 percent, while all other products and services grew by 19 percent. For China, Apple reported a decline in sales to $ 13.2 billion from $ 18 billion.

The business of the service is a brilliant place, also because it enters rich margins. Currently Apple has reported more in detail than before, after the company has stopped publishing sales figures for its devices to disappoint investors.

Investors are convinced by the numbers: in early trading, it rises 4.73 percent to $ 162.00.

FRANKFURT (Dow Jones)

Source: catwalker / Shutterstock.com, 1000 Words / Shutterstock.com, turtix / Shutterstock.com, TonyV3112 / Shutterstock.com


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