Apple Earnings Live Updates: Stocks Fall Despite Revenue, EPS Hit

• Apple reported fiscal fourth-quarter earnings that beat analysts’ estimates for profit and revenue.
• Revenue from the iPhone beat estimates, while revenue from the Apple Services business missed estimates.
• However, revenues from China do not meet estimates. Apple shares fell about 1% after the results.

Apple reported higher earnings and revenue for its fiscal fourth quarter after the market closed on Thursday.

Revenue from Apple’s iPhone division beat analysts’ estimates, while its iPad, wearables and services division missed analysts’ estimates.

“We are thrilled that our active installed base reached new record levels across all products and geographic segments, driven by our strong levels of customer satisfaction and loyalty,” Apple CEO Tim Cook said in a statement accompanying the earnings report. release.

However, revenue from China, a key market for the company, was below expectations and amounted to $15.03 billion versus estimates of $15.8 billion.

Shares fell about 1% immediately after the results were released.

Apple’s earnings call with analysts began at 5:00 pm ET.