Apple generated net income of $30 billion, or $1.88 a share, compared with $34.6 billion, or $2.10 a share, a year earlier. Production issues in China seemed to impact $AAPL far more than expected in the holiday quarter:
Production issues in China seemed to impact Apple far more than expected in the holiday quarter, as the consumer-electronics giant delivered a miss for its iPhone category after the close of Thursday trading.
The performance comes after Apple warned in November that its iPhone 14 Pro and Pro Max shipments would be impacted by pandemic-fueled production constraints at a major Foxconn 2354, +2.55% facility in China.Overall revenue for the December quarter fell to $117.2 billion from $123.9 billion a year prior, while the FactSet consensus was for $121.4 billion.
After reporting a quarterly revenue record for Macs in the September quarter, Apple fell way short of those heights in the December quarter and missed expectations by a wide margin. Mac sales declined to $7.7 billion from $10.9 billion a year earlier, while analysts had been looking for $9.4 billion.
Revenue for wearables, home and accessories came in at $13.5 billion, down from $14.7 billion a year before, whereas analysts were modeling $15.3 billion. Services revenue rose to $20.8 billion from $19.5 billion and beat the FactSet consensus, which was for $20.4 billion.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple quarterly profit dented by weak iPhone salesApple on Thursday reported sales and profits that missed Wall Street expectations driven by weak iPhone sales after COVID lockdowns in China disrupted production of the company’s biggest…
Read more »
The ravishing Genesis X Convertible Concept is going into production - AutoblogHyundai Group Chief Creative Officer Luc Donckerwolke tells U.S. Genesis dealers the X Convertible Concept is entering production.
Read more »
New Theatre Production Pays Homage to History-Making Baseball Player Toni StoneThe Goodman Theatre has launched a new production about Toni Stone, a trail blazer who was the first Black woman to play professional baseball in the Negro Leagues during the 1940’s.
Read more »
The All-Electric Hummer SUV Is Going Into Production This WeekDeliveries are expected to begin later this quarter.
Read more »
Production of the GMC Hummer EV SUV underway | Car News | Auto123Production of the utility version of the GMC Hummer EV was launched yesterday in Michigan. Auto123 has the details.
Read more »
GMC Hummer EV SUV : la production est lancée | Actualités automobile | Auto123La production de la version utilitaire du GMC Hummer EV a été lancée hier au Michigan. Auto123 a les détails.
Read more »