[ad_1]
The creator of the iPhone increased sales in the first three months of the year.
Apple boss Tim Cook.
MANDEL NGAN / AFP
published:,
The tech giant could report 1 percent revenue growth to $ 58.3 billion. Adjusted earnings per share reached $ 2.55.
This is reflected in the quarterly figures released on Thursday night.
Based on the facts, advance sales of $ 54.8 billion and earnings per share of $ 2.29 were expected during the three-month period.
In the bottom line, the company left $ 11.25 billion.
Coronavirus affects
As with most other companies by day, analysts were excited about how the crown crisis hit the tech giant.
Apple previously withdrew the guide for the second quarter, due to lack of iPhone production and low demand in China. The company also did not present new guidelines on Thursday night.
“We are proud to report that Apple grew in the quarter, despite Covid-19,” Apple chief Tim Cook said in a statement.
Apple stores worldwide are still closed due to the corona virus, although stores in China and one in South Korea have reopened, according to CNBC.
Despite the overall increase in revenue, “dairy cow” iPhone revenue fell seven percent to $ 28.96 billion.
“Everyone knows that second quarter accounting will not be good, but investors will look for recent signs of improvement,” Bernstein analyst Toni Sacconagh wrote in a note before the presentation, according to Marketwatch.
Also read
Amazon with strong growth in the first quarter
Increase rebuys
Apple stock began to plummet in late February, but has since recovered parts of the decline. On Thursday, shares rose 2.11 percent in regular trade on Wall Street, but are receding marginally in the aftermarket.
So far this year, shares have risen 1.93 percent.
Apple’s board also decided that the company should pay a dividend of $ 0.82 per share to its shareholders, giving the go-ahead to increase the share buyback program by $ 50 billion.
