Apple Earnings Recap
Apple's revenue and EPS exceeded estimates, but iPhone revenue and China sales missed expectations.
Tim Cook discussed AI and more in an earnings call, following Apple's historic jump to a $4 trillion market cap.
- Revenue grew 8% year over year to $102.5 billion, beating estimates.
- EPS grew 13% year over year to $1.85.
- Sales in China decreased from the year-ago period, missing estimates.
- iPhone revenue was $49.02 billion, slightly missing Wall Street's estimates of $49.33 billion.
The stock initially dipped 3% before rising 5% after hours.
Apple planned to increase its capex spending in the holiday quarter, driven by expanding AI investments.
Author's summary: Apple's earnings beat estimates despite China struggles.
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