Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Apple’s Q3 Revenue Beats Forecasts, Stock Dips on China Sales Slowdown

Daniel Kim Views  

Apple Store in Paris, France / Yonhap News

Apple has exceeded market expectations with its third-quarter results, though its stock price declined in after-hours trading, reflecting ongoing challenges in the critical Greater China market. Future performance is anticipated to depend on a recovery in Chinese sales and advances in AI technology.

On Thursday, Apple reported third-quarter revenues of $94.93 billion and adjusted earnings per share of $1.64, both slightly above Wall Street estimates compiled by the London Stock Exchange Group (LSEG).

Revenue rose 6% compared to the previous year, though net income dropped sharply from $22.96 billion to $14.73 billion. Apple attributed this decline to a one-time tax payment of $10.2 billion to Ireland following the European Court of Justice ruling in September.

iPhone sales, which account for half of Apple’s revenue, reached $46.22 billion, exceeding market expectations of $45.47 billion.

However, sales of Macs and iPads fell short of forecasts, totaling $7.74 billion and $6.95 billion, respectively. While service revenue increased, it still fell below expectations, reaching $24.97 billion compared to the anticipated $25.28 billion.

Despite surpassing revenue expectations, Apple’s stock closed at $225.91 on the New York Stock Exchange, a decline of 1.82% from the previous session. In after-hours trading, the stock continued to drop by about 1% following the earnings announcement.

Concerns about sales in Greater China appear to have pressured the stock price. Revenue from this region slightly decreased year-over-year to $15 billion, missing the market forecast of $15.8 billion. Bloomberg noted, “Apple faces intense competition from local companies in China, its key manufacturing hub.”

Nonetheless, Apple CEO Tim Cook shared in a CNBC interview that iPhone 15 sales were stronger than those of the iPhone 14 during the same period last year, and iPhone 16 sales have also outperformed those of the iPhone 15.

Notably, Cook expressed confidence in Apple’s AI system, “Apple Intelligence,” introduced with the recent release of iOS 18.1. He highlighted that Apple has been receiving positive feedback from customers and developers, and initial data shows that users are adopting iOS 18.1 at twice the rate of iOS 17.1 at its release last year.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Russian Aluminum Imports to South Korea Jump 35% in Just One Month
  • Intel’s Gelsinger Resigns, Gets $12 Million Payoff After Less Than 4 Years
  • Elon Musk’s $101 Billion Compensation Deal in Jeopardy After Court Ruling
  • Mattel Sued Over Shocking Adult Website Link on Kids’ Doll Packaging
  • NVIDIA’s $3.3 Trillion Market Value Crashes—Apple Takes the Lead
  • Gold Prices Likely to Stay Strong in 2025, Analysts Predict Barrick Gold Will Benefit

You May Also Like

  • 1
    Ex-CIA Expert: North Korea Ready to Strike Amid Yoon's Emergency Drama?

    DEBATE 

  • 2
    2,000 North Korean Soldiers Now Fighting in Ukraine, Intelligence Reports Confirm

    LATEST 

  • 3
    Elon Musk's Shocked Response to South Korea's Martial Law Sparks Global Buzz

    LATEST 

  • 4
    60 North Korean Missiles Used by Russia in Ukraine, Claims Ukrainian Defense Intelligence

    WORLD 

  • 5
    White House Reacts to South Korea’s Martial Law—Is It a Threat to Democracy?

    WORLD 

Popular Now

  • 1
    Travel Plans Disrupted: Major Nations Issue Travel Warnings After South Korea’s Martial Law

    ASIA 

  • 2
    Did Yoon Overstep? Emergency Martial Law Move Draws Sharp Criticism from Constitutional Scholars

    ASIA 

  • 3
    Rep. Andy Kim Speaks Out: South Korea's Emergency a Threat to Democracy

    LATEST 

  • 4
    New U.S. Space Force Headquarters Opens in Tokyo to Combat North Korean and Chinese Threats

    LATEST 

  • 5
    Merkel Critiques Trump's Admiration for Dictators' Power in Recent Interview

    WORLD 

Must-Reads

  • 1
    Ex-CIA Expert: North Korea Ready to Strike Amid Yoon's Emergency Drama?

    DEBATE 

  • 2
    2,000 North Korean Soldiers Now Fighting in Ukraine, Intelligence Reports Confirm

    LATEST 

  • 3
    Elon Musk's Shocked Response to South Korea's Martial Law Sparks Global Buzz

    LATEST 

  • 4
    60 North Korean Missiles Used by Russia in Ukraine, Claims Ukrainian Defense Intelligence

    WORLD 

  • 5
    White House Reacts to South Korea’s Martial Law—Is It a Threat to Democracy?

    WORLD 

Popular Now

  • 1
    Travel Plans Disrupted: Major Nations Issue Travel Warnings After South Korea’s Martial Law

    ASIA 

  • 2
    Did Yoon Overstep? Emergency Martial Law Move Draws Sharp Criticism from Constitutional Scholars

    ASIA 

  • 3
    Rep. Andy Kim Speaks Out: South Korea's Emergency a Threat to Democracy

    LATEST 

  • 4
    New U.S. Space Force Headquarters Opens in Tokyo to Combat North Korean and Chinese Threats

    LATEST 

  • 5
    Merkel Critiques Trump's Admiration for Dictators' Power in Recent Interview

    WORLD 

Share it on...