Skip to content
Subscriber Only

Apple Forecast Beats Wall Street Estimates; Shares Rally

  • Results suggest iPhone demand stabilized after tough holiday
  • Gross profit margin forecast hints at small iPhone discounts
Video player cover image
Apple Earnings Show a Very Strong Story, Analyst Julie Ask Says
Updated on

Apple Inc. projected quarterly sales that topped analysts’ estimates, suggesting demand for iPhones has stabilized after a disappointing holiday period. Shares of the mobile technology giant rose about 5 percent in extended trading.

The company also reported Services revenue grew 16 percent as consumers sign up for an expanding smorgasbord of digital subscriptions. That was just ahead of Wall Street expectations. A new buyback plan also helped.