Apple Beats Out Earnings Estimates with Continued iPhone Momentum
9 Articles
9 Articles
Apple beats out earnings estimates with continued iPhone momentum
Apple posted strong results for its quarterly earnings on Thursday, but investors’ attention is also focused on the upcoming CEO change and the tech firm’s artificial intelligence strategy. Apple CEO Tim Cook announced earlier this month he will be stepping down from the role, with Apple’s head of hardware engineering, John Ternus, assuming the role later this year. The January-March results announced Thursday reflect the continued momentum of i…
Apple published higher-than-estimated results for the second quarter of its staggered fiscal year (closed at the end of March), thanks in particular to the good performance of iPhone's sales. Net profit was $29.6 billion, up 19% over one year, according to a news release.
Apple surprises with record results and at the same time announces a change of leadership that brings fresh air to the executive floor. Despite rising costs and delivery problems, the tech giant remains on a growth course and relies on new AI innovations as well as possible billions of returns.
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