Hamartia Antidote
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http://www.dailymail.co.uk/sciencet...hes-expectations-reports-record-earnings.html
Apple on the verge of becoming the world's first $1 TRILLION company as shares hit an all-time high after record results reveal it made $11.5bn in just three months
Apple revealed its profit have jumped more than 30 percent to $11.5 billion in the recently ended quarter, beating market expectations.
The news boosted shares in the tech giant in after-hours trading, putting it ever closer to a history-making, trillion-dollar market value.
The tech giant beat sales estimates in part by selling fewer but pricier iPhones than analysts expected.
Apple sold 41.3 million units, below expectations of 41.8 million units, while hitting an average selling price of $724 (£551.7), which beat analysts' expectations of $694 (£528).
Shares of Apple surged 3.9 percent to $197.81 in after-hours trading on the back of its powerhouse earnings.
The company reported revenue of 53.3 billion dollars (£40.6bn), up 17 percent from the same period last year and above analyst expectations of 52.4 billion (£39.9bn).
It also reported net income of 11.5 billion (£8.76bn).
Ahead of the results, the iPhone maker was in a position to move past the one trillion dollar market capitalization mark if it reported stronger than expected results that sparked a 7 percent rise in share price.
Apple's market capitalization represents the total number of all its shares, multiplied by its current stock price. The higher Apple's stock rises, the greater its valuation becomes.
As of about 5:30 p.m. (ET) on Tuesday, Apple's market cap stood at about $935.3 billion - a few billion shy of the $1 trillion mark predicted by analysts and investors.
Confirmation of such a result will not come until markets open on Wednesday, but chief executive Tim Cook said he was delighted with the figures reported.
'We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,' Apple CEO Tim Cook said in a statement.
'Our [third quarter] results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline
Apple on the verge of becoming the world's first $1 TRILLION company as shares hit an all-time high after record results reveal it made $11.5bn in just three months
Apple revealed its profit have jumped more than 30 percent to $11.5 billion in the recently ended quarter, beating market expectations.
The news boosted shares in the tech giant in after-hours trading, putting it ever closer to a history-making, trillion-dollar market value.
The tech giant beat sales estimates in part by selling fewer but pricier iPhones than analysts expected.
Apple sold 41.3 million units, below expectations of 41.8 million units, while hitting an average selling price of $724 (£551.7), which beat analysts' expectations of $694 (£528).
Shares of Apple surged 3.9 percent to $197.81 in after-hours trading on the back of its powerhouse earnings.
The company reported revenue of 53.3 billion dollars (£40.6bn), up 17 percent from the same period last year and above analyst expectations of 52.4 billion (£39.9bn).
It also reported net income of 11.5 billion (£8.76bn).
Ahead of the results, the iPhone maker was in a position to move past the one trillion dollar market capitalization mark if it reported stronger than expected results that sparked a 7 percent rise in share price.
Apple's market capitalization represents the total number of all its shares, multiplied by its current stock price. The higher Apple's stock rises, the greater its valuation becomes.
As of about 5:30 p.m. (ET) on Tuesday, Apple's market cap stood at about $935.3 billion - a few billion shy of the $1 trillion mark predicted by analysts and investors.
Confirmation of such a result will not come until markets open on Wednesday, but chief executive Tim Cook said he was delighted with the figures reported.
'We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,' Apple CEO Tim Cook said in a statement.
'Our [third quarter] results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline
