Apple reports best-ever earnings
The tech giant’s sales of apps and services helped profit grow 7 percent from a year ago, even as the company contended with slumping sales in China.
When Apple reported its December quarter earnings on Thursday, it revealed that China sales had dropped 11.1% on an annual basis. Cook told analysts that over half of the decline was due to inventory issues.
Apple shares rose in after-market trading on Thursday after the company forecast higher sales than Wall Street expected, a sign the company expects iPhone sales to recover as it rolls out artificial intelligence features.
Apple reported $18.5 billion in sales in greater China last quarter, comfortably below consensus estimates of $20.9 billion.
It has been a year since Apple provided insight on its total install base, but on the earnings call Thursday, CEO Tim Cook shared that it is 2.35 billion devices.
Apple's earnings call is today at 5 pm ET. AAPL stock heads into the report down 4% YTD. Analysts are focused on services and China sales.
During today's earnings call covering the first fiscal quarter of 2025, Apple CEO Tim Cook was asked about whether he felt there was room
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