Apple Earnings Recap
Apple's revenue and EPS exceeded estimates, but iPhone revenue and China sales missed expectations.
Apple delivered an earnings beat with revenue growing 8% year over year to $102.5 billion and EPS growing 13% year over year to $1.85.
- iPhone revenue: $49.02 billion, slightly missing estimates of $49.33 billion
- China sales decreased from the year-ago period, missing estimates
In a call with analysts, Apple discussed plans to increase capex spending in the holiday quarter, driven by expanding AI investments.
Tim Cook talked AI and more in an earnings call.
The stock initially dipped 3% before rising 5% after hours.
Author's summary: Apple's earnings beat expectations despite China revenue decline.
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