Apple jumps after earnings and revenue beat

“Apple reported earnings for its December quarter Tuesday that largely fell in line with expectations,” Sara Salinas reports for CNBC. “But, iPhone revenue came in just slightly below projections.”
“Revenue for the company’s services segment — a catch-all category that includes Apple Pay, Apple Music and iCloud storage — topped $10.9 billion, marking a 29 percent year-over-year increase,” Salinas reports. “Apple reported a gross margin in its services segment of 62.8 percent. That’s well above the 38 percent margin it reported for its overall business.”
Here’s how the product lines break down:
• iPhone: $51.98 billion vs. $52.67 billion estimated
• iPad: $6.73 billion vs. $5.90 billion estimated
• Mac: $7.42 billion vs. $7.42 billion estimated
• Wearables, Home and Accessories: $7.31 billion vs. $7.33 billion estimated
Read more in the full article here.
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