Earnings Overview
Apple Inc. reported its fiscal first-quarter results, surpassing LSEG consensus expectations on both revenue and earnings per share fronts. The tech giant posted an earnings per share (EPS) of $2.18, compared to the estimated $2.10, while revenue reached $119.58 billion against predictions of $117.91 billion. This performance marks a notable rebound, breaking a year-long streak of revenue declines.
Product Line Breakdown
The quarter witnessed mixed outcomes across various product lines. iPhone sales, a critical driver of Apple’s revenue, exceeded expectations with a nearly 6% growth, amounting to $69.70 billion. This surge is significant, especially considering it’s the first full quarter reflecting iPhone 15’s market presence. Mac revenue also saw a modest increase, aligning with estimates at $7.78 billion.
However,…
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