“They just got so successful on the iPhone and that was their whole business for a long time,” Wozniak said. “Now they’re branching out so a lot of their businesses have been very good.”
Apple and Goldman Sachs are teaming up to issue a joint credit card that will incorporate iPhone features for intuitive money management. A beta test of the card will be rolled out to employees within the next few weeks and its official launch will take place later this year with the goal to entice cardholders by offering more robust features that can work in cohesion with Apple’s Wallet app.
Last month, Apple bested analyst expectations in earnings and revenue for its fiscal first quarter, muting earlier warnings by CEO Tim Cook that results would disappoint due to lackluster iPhone sales. Cook cited weaker demand in China as a major factor affecting iPhone sales.
Wall Street Expectations:
- EPS: $4.17 per Refinitiv consensus estimates
- Revenue: $83.97 billion per Refinitiv consensus estimates
- iPhone revenue: $52.67 billion per Refinitiv consensus estimates
- Services revenue: $10.87 billion per Refinitiv consensus estimates
Actual earnings results:
- EPS: $4.18
- Revenue: $84.3 billion
- iPhone revenue: $51.98
- Services revenue: $10.9
Shares of Apple have been battered as a result of weaker guidance with the tech giant projecting lower revenue due to weaker demand for its iPhone. This was reflected in the final fiscal first-quarter earnings results as the iPhone maker beat expectations in earnings per share, revenue and services revenue, but as expected, fell short on iPhone revenue.
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