Apple reported better-than-expected results for the quarter ended March, with revenue of $111.18bn and EPS of $2.01, compared to forecasts of $109.66bn and $1.95 respectively. Performance was driven by Mac sales, which reached $8.4bn, notably supported by the launch of the MacBook Neo. Services also contributed to growth, generating $30.98bn, while iPad and wearables sales amounted to $6.91bn and $7.9bn respectively.
In contrast, iPhone sales came in at $56.99bn, slightly below expectations, despite what was described as very strong demand. CEO Tim Cook cited supply constraints for advanced chips, linked to their technological proximity to those used in artificial intelligence, which limited production capacity. This situation comes as the new iPhone 17 lineup, developed under the leadership of John Ternus, aims to strengthen the appeal of upmarket models, while maintaining stable pricing.
Its gross margin reached 49.27%, above expectations, reflecting the group's ability to absorb rising costs. In China, sales exceeded forecasts, reaching $20.5bn. Apple also announced a new $100bn share buyback program, confirming its shareholder return policy amid overall solid performance.
Following these results, Apple shares fell 1% during extended trading on Thursday.
Apple Inc. specializes in the design, manufacture and marketing of computer hardware and music supports. Net sales break down by family of products and services as follows:
- telephone products (50.4%): iPhone brand;
- peripheral devices (8.6%): screens, storage systems, printers, video camera, memory cards, server, switches, etc.;
- computers (8.1%): laptops (MacBook, MacBook Air and MacBook Pro brands) and PCs (iMac, Mac mini, Mac Pro and Xserve);
- music support (6.7%): music readers iPod and iPad and accessories;
- other (26.2%): software, maintenance service and Internet access service, etc.
Net sales are distributed geographically as follows: Americas (42.8%), China/Hong Kong/Taiwan (15.5%), Japan (6.9%), Asia/Pacific (8.1%), and Europe/India/Middle East/Africa (26.7%).
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