(Reuters) -Apple on Thursday reported quarterly sales and profit that beat Wall Street expectations, with iPhone sales up 2.8% and in line with Wall Street...
FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/ -Apple on Thursday reported quarterly sales and profit that beat Wall Street expectations, with iPhone sales up 2.8% and in line with Wall Street expectations, helping offset large drops in Mac and iPad sales.
But the results do not include the bulk of sales from Apple's newest iPhone 15 models. Analysts and investors will be closely watching a conference call scheduled for 5 p.m. EDT during which executives will give an outlook for the company's all-important holiday sales quarter, historically the most important for the new devices.
"We're working hard to manufacture more of them," he said. "We do believe that later this quarter, we'll reach a supply-demand balance." For now, the iPhone remains Apple's biggest seller. Sales of the device were $43.81 billion in the fourth quarter, in line with analyst expectations of $43.81 billion, according to LSEG data.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street Is on High Alert for Cracks in Treasury-Bill DemandThe US Treasury’s ongoing barrage of bill issuance has left market participants trying to gauge when investors will lose their appetite for short-dated government debt.
Read more »
Wall Street regulator adopts new rules for swap trading facilitiesExplore stories from Atlantic Canada.
Read more »
Wall Street regulator adopts new rules for swap trading facilitiesThe new rules will also be harmonized with those currently used by the U.S. Commodity Futures Trading Commission, an independent agency which regulates...
Read more »
Wall Street Brokerages Near Win in Bid to Ease MF Global Rule on CollateralUS regulators are moving to ease some of the restrictions put in place after MF Global Holdings Ltd.’s implosion — a win for brokerages that have for years pushed to unwind them.
Read more »
Wall Street holds gains, trade choppy as Fed keeps rates steadyKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »