Published , by Donovan Erskine
Published , by Donovan Erskine
Apple’s (AAPL) first quarter of the financial year has ended and the company has come forth with its earnings results. The tech giant posted a beat on both revenue and EPS estimates in Q1 2024.
Apple’s Q1 2024 earnings results were posted after the markets closed today. Apple’s $119.6 billion in revenue beat the expectation of $118 billion. As for earnings-per-share, Apple made $2.18/share against a $2.10/share estimate.
“Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services,” said Apple CEO Tim Cook. “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 on behalf of our customers.”
Despite beating expectations, Apple’s stock plummeted in after-hours trading after an initial spike. It dropped as low as $183.50 after ending the day at $186.86. That said, the stock managed to recover a bit as time went on. Stay right here on Shacknews for the biggest financial stories hitting this week.