Apple Stories Gross sales of fifty one.2 Million iPhones for Second Quarter

Apple reported quarterly earnings and income that missed analysts’ expectations on Tuesday.

The tech big stated it noticed fiscal second-quarter earnings of $1.ninety per share on $50.fifty six billion in income. Wall Road anticipated Apple to report earnings of about $2 a share on $fifty one.ninety seven billion in income, based on a consensus estimate from Thomson Reuters.

That anticipated income would imply a ten % fall over the comparable yr-in the past interval — representing the primary yr-over-yr quarterly gross sales drop since 2003.

Importantly, the corporate introduced a ten % dividend improve and a $50 billion improve to its capital return program.

Learn Extra: As iPhone Gross sales Fade, Apple Prepares to Report Worst Earnings in a Decade

Talking with CNBC, Apple CEO Tim Prepare dinner stated the corporate is in "the early innings of the iPhone" and that they "really feel good" about their enterprise in China.

The truth is, Apple beat Wall Road’s estimates on iPhone shipments, reporting fifty one.2 million for the quarter. Analysts had anticipated 50.three million, in line with StreetAccount.

Apple shares have struggled of late, falling about 20 % during the last yr.

A part of that decline is attributable to stalling iPhone gross sales. The system often accounts for greater than half of Apple’s revenues, nevertheless it struggled to realize vital yr-over-yr progress through the fiscal first quarter, and analysts have been even much less optimistic concerning the second quarter.