Business & Economy · 2 views
Apple outpaces sales expectations as it continues to battle surging memory chip costs
Apple beat its quarterly financial expectations in chief executive John Ternus’s first earnings report since taking over Tim Cook’s post in September, though the company continues to be pressured by a surge in memory chip costs.
Summary
Apple beat its quarterly financial expectations in chief executive John Ternus’s first earnings report since taking over Tim Cook’s post in September, though the company continues to be pressured by a surge in memory chip costs. The iPhone maker posted fourth-quarter revenue of $114.5 billion, more than what Wall Street analysts had expected. Its profit was $30.7 billion, or $2.10 per share. iPhone revenue came in at $57.58 billion.
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