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28 Jan 2022

Apple Earnings Exceeded Wall Street’s Forecast; Stock Moves to New High

The Index Today

Apple shown an unexpected results for its fiscal first quarter as customer buys more iPhones, Macs, iPads and other Apple products at an amazing pace. Sales of Apple topped Wall Street’s expectations.

On a conference call with analysts, Tim Cook the CEO of Apple said that the company passed 1.65 billion total installed devices worldwide in the quarter, with the installed base of iPhone topping 1 billion. He also mentioned that the company had record revenue in all geographic areas.

Overall, Apple posted revenue of $111.4 billion, up 21% from the year-earlier quarter, and profits of $1.68 a share. That revenue was well above the Wall Street consensus at $102.8 billion and $1.40 a share.

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