Apple's Quarterly Earnings Surpass Market Expectations

Thursday's quarterly report from the American technology giant Apple delivered something above market expectations.

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Apple's Quarterly Earnings Surpass Market Expectations
Photo: Matthias Schrader/AP/TT

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The profit per share amounted to 1.65 dollars, higher than the expected 1.63 dollars, reports CNBC with reference to the analysis firm LSEG.

When the company reported figures for the corresponding period last year, the share was at 1.53 dollars.

The iPhone manufacturer's turnover landed at 95.4 billion dollars. Market analysts had expected a turnover of 94.66 billion dollars.

The sales of iPhone, at 46.84 billion dollars, also exceeded market expectations, which were at 45.84 billion. At the same time, Mac computers turned over 7.95 billion dollars.

The sales on the Chinese market – which in Apple's reporting includes Taiwan, Hong Kong, and Macau – decreased slightly compared to the previous year to 16 billion dollars. The sales on the American market, on the other hand, increased by almost 8 percent.

Apple is one of the hardest hit tech giants in President Donald Trump's trade war due to its exposure to China. However, during the current quarter, the majority of the company's units delivered to the US will originate from India and Vietnam, says Apple representative Kevan Parekh to The Wall Street Journal.

Apple's share fell by around 2.5 percent in after-hours trading.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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