Instant Reaction: Apple Shares Gain as Sales Top Estimates
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Instant Reaction: Apple Shares Gain as Sales Top Estimates
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Apple's fourth-quarter revenue edged past analysts’ estimates despite a surprise sales decline in China, where it’s been struggling to stage a comeback. Total sales rose 7.9% to $102.5 billion in the period, which ended Sept. 27, the company said in a statement Thursday. That slightly beat the $102.2 billion average estimate. The company benefited from stronger-than-expected services growth, helping offset the China slowdown. The Mac and wearables division also performed better than anticipated. Apple shares gained more than 3% in late trading after the results were released. They had been up 8.4% this year through the close.
For more, Bloomberg Businessweek Daily spoke with Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners and Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech.
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