Apple’s profits exceed expectations despite a drop in iPhone sales

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The US tech giant, “Apple”, announced on Thursday, revenue and profits that exceeded Wall Street expectations, with a continuing boom in its sales of Mac computers and accessories such as headphones.

US tech giant “Apple” on Thursday announced revenues and profits that exceeded Wall Street expectations, with a continued boom in its sales of Mac computers and accessories such as AirPods, which helped offset a drop in iPhone sales.

The Cupertino, California-based company said revenues and profits for the fourth quarter of its fiscal year ending September 26 were $ 64.7 billion and 73 cents per share, compared with analyst estimates of $ 63.7 billion and 70 cents per share.

Sales of phones have fallen Iphone 20.7%, to $ 26.4 billion, a drop more sharply than analysts’ expectations, which had indicated a decline of 16.2%.

Apple said that its revenue from the accessories segment jumped 20.8% to $ 7.9 billion, while analysts’ estimates were pointing to an increase of 13.5% to $ 7.4 billion. Mac and iPad sales rose to $ 9.0 billion and $ 6.8 billion, compared with estimates of $ 7.92 billion and $ 6.12 billion.

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Reuters





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