Apple (AAPL)
China sales are only 8% lower – this is better than expectations.
Japan and the rest of Asia-Pacific were much lower at 13% and 17% respectively.
iPhone sales down 10.4% – this could have been worse.
Services of course the biggest growth category with 14% growth.
The interesting thing here is that even as Apple keeps contracting in its product categories, margins get better with the higher margin services taking more share of the pie. Operating income dropped only 1.5% compared to the 4% revenue drop.
Apple (AAPL) $179 post-market, from $173.
- Apple press release (NASDAQ: AAPL): Q2 GAAP EPS of $1.53 beats by $0.03.
- Revenue of $90.8B (-4.3% Y/Y) beats by $190M.
- Shares +2.4%.
- Apple’s board of directors has declared a cash dividend of $0.25 per share of the Company’s common stock, an increase of 4 percent. The dividend is payable on May 16, 2024, to shareholders of record as of the close of business on May 13, 2024. The board of directors has also authorized an additional program to repurchase up to $110 billion of the Company’s common stock.