Technology

Apple reports first quarter results Services revenue reaches new all-time record EPS up 16 percent to new all-time high CUPERTINO, Calif.–(BUSINESS WIRE)–February 01, 2024– Apple(R) today announced financial results for its fiscal 2024 first quarter ended December 30, 2023. The Company posted quarterly revenue of $119.6 billion, up 2 percent year over year, and quarterly earnings per diluted share of $2.18, up 16 percent year over year. “Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments. And as customers begin to experience the incredible Apple Vision Pro tomorrow, we are committed as ever to the pursuit of groundbreaking innovation — in line with our values and

Apple Posts Q1 EPS of $2.18 on Revenue of $119.6 Billion, Vs CIQ Analyst Consensus of $2.10/Share on Revenue of $118.3 Billion.

Apple Q1 iPad Sales at $7.02 Billion Vs Visible Alpha Analyst Consensus of $7.2 Billion; Services Sales at $23.1 Billion Vs Consensus of $23.2 Billion.

Apple (AAPL) reported fiscal Q1 diluted earnings late Thursday of $2.18 a share, up from $1.88 a year earlier. Analysts surveyed by Capital IQ expected $2.11. Sales in the quarter ended Dec. 30 were $119.58 billion, up from $117.15 billion a year earlier. Analysts surveyed by Capital IQ expected $118.26 billion. Apple maintained its quarterly dividend of $0.24 per share, payable on Feb. 15 to shareholders of record on Feb. 12.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We hold our 12-month target at $210 on a P/E of 29x our CY 25 EPS of $7.25, above peers. We keep our FY 24 (Sep.) EPS at $6.56 and adjust FY 25 to $7.10 from $7.20. AAPL posts Dec-Q EPS of $2.18 vs. $1.88, beating the $2.10 consensus. Sales rose 2%, beating expectations, led by iPhone growth of 6%, while Services grew 11%. Macs returned to growth (+1%) on easier comps and product launches (M3 chip) while iPads fell 25% (lack of new products) and Wearables -11%. Weaker Mar-Q sales outlook (implies 5% Y/Y decline on tough iPhone comps) and 13% China decline (down mid-single-digit CC) were notable negatives. Although China’s softness implies share loss, growth across the rest of Asia (+7%), installed base rise (2.2B

By Brian Swint Apple shares were falling in Friday’s premarket after the company reported earnings. Analysts said that a lack of new products was an issue as well as the slump in China, a key market for the iPhone maker. “Both the Americas segment and China segment came in below expectations, and we do not believe the dynamics are likely to change in the near term, ” said KeyBanc analysts led by Brandon Nispel. “This, paired with Apple’s still premium valuation and limited growth, suggests that Apple is likely to be range-bound and perform in line with the Nasdaq at best.” KeyBanc gives Apple stock a rating of Sector Weight, without a price target. The shares fell 2.4% to $182.44 in early trading. Coming into the session, the had dropped 5.8% over the past three months, though they’re still up 21% from a year ago. Piper Sandler was also pessimistic