Mon, 7 July
28.1 C
Yerevan
USD: 384.11 RUB: 4.88 EUR: 450.45 GEL: 141.38 GBP: 522.39

Apple shares take a tumble after earnings report, CNET reports

YEREVAN, January 24. /ARKA/. Apple investors hoping for a nice stock boost following fiscal first-quarter earnings are likely pretty disappointed right now, CNET reported.

Shares, which have already been under pressure in recent weeks, slid about 10 percent in late trading after the Cupertino, Calif., electronics giants failed to post quarterly results that were as strong as hoped. Shares initially slid about 5 percent after the report, but losses accelerated during Apple’s conference call.

Revenue for the first-quarter ended in January was weaker than analysts expected, as were the company’s projections for second-quarter sales. And iPhone sales, while a record, also weren’t quite enough to please investors.

All-in-all, the quarterly numbers likely won’t assuage fears about slowing growth. Reports over the past few weeks have speculated that Apple is cutting component orders for its iPhone 5 owing to slumping demand for the handset, and other reports have said Apple also is having trouble selling its tablets.

For the quarter ended in December, Apple posted revenue of $54.5 billion, and earnings of $13.1 billion, or $13.81 per share. That was just below the $54.7 billion and slightly above earnings per share of $13.44 that Wall Street was expecting, but above the $52 billion and $11.75 per share that Apple forecast for itself back in October.
Apple sold 47.8 million iPhones during the quarter, which ended in December. Sales of the iPad came in at 22.9 million, with 4.1 million units sold for the Mac. Customers bought 12.7 million iPods. –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenian parliament approves annual report on execution of 2024 state budget

At a session on Thursday, the National Assembly of Armenia approved the annual report on the execution of the 2024 state budget.

Euro to Armenian dram exchange rate increased slightly – Central Bank data

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 10, 2025, decreased by 0.29 points compared to June 10 and amounted to 383.25 drams.

Moody’s affirms Armenian government ratings at Ba3 with stable outlook

On June 26, 2025, Moody's affirmed the long-term issuer ratings in national and foreign currencies and senior unsecured debt in foreign currency of the Armenian government at Ba3, maintaining the stable outlook, the press service of the Ministry of Finance of Armenia reported.

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

LATEST NEWS

spot_imgspot_imgspot_img