"Revenue will rise 13% to 16% in the second quarter, which runs through March, the company said Thursday during a conference call with analysts. That exceeded the 10% projected by Wall Street showing that Apple can maintain momentum after an iPhone-fueled sales surge in the December quarter. Still, the specter of rising memory prices clouded the results. After a minimal effect last quarter, the company expects more of an impact to gross margins in the current period, Chief Executive Officer Tim Cook said."
"Revenue during the holiday season trounced Wall Street estimates, driven by strong demand for the new iPhone 17, growth in services and a rebound in China. Sales jumped 16% to $143.8 billion in the period ended Dec. 27. Analysts had estimated $138.4 billion on average, according to data compiled by Bloomberg. Apple's own projections were for an increase of 10% to 12%."
"IPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment, Cook said in the statement announcing the results. The results reflected the success of Apple's latest iPhone, a product line that accounts for roughly half its revenue. Higher-end versions of the device have been especially popular, helping further fuel sales and profit for the company."
Apple delivered record quarterly sales with revenue rising 16% to $143.8 billion in the quarter ended Dec. 27. The company forecast second-quarter revenue growth of 13% to 16%, above Wall Street expectations. Strong demand for the iPhone 17, growth in services and a rebound in China drove the results. Rising memory prices are expected to significantly impact gross margins in the current period. Supply constraints affect the iPhone's 3-nanometer processor and AirPods Pro 3 supplies. Shares slid as much as 2.4% after markets opened, leaving the stock down about 5% year-to-date through Thursday's close.
Read at www.mercurynews.com
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