AAPL: the business angle

Apple reported 17% revenue growth, topping estimates, even as iPhone sales came up short. AAPL has emerged this Friday as one of the stories drawing attention in South Korea.

Key facts

• Apple reported 17% revenue growth, topping estimates, even as iPhone sales came up short.
• iPhone revenue: $56.99 billion vs $57.21 billion expected.
• Mac revenue: $8.4 billion vs. $8.02 billion expected.
• iPad revenue: $6.91 billion vs. $6.66 billion expected.
• Wearables, Home and Accessories revenue: $7.9 billion vs. $7.7 billion expected.

What we know

Going deeper, iPhone revenue: $56.99 billion vs $57.21 billion expected.

On the substance, Mac revenue: $8.4 billion vs. $8.02 billion expected.

Beyond the headlines, iPad revenue: $6.91 billion vs. $6.66 billion expected.

More precisely, Wearables, Home and Accessories revenue: $7.9 billion vs. $7.7 billion expected.

It is worth noting that Services revenue: $30.98 billion vs. $30.39 billion expected.

By the numbers

At this stage, Revenue climbed 17% from $95.4 billion a year earlier, Apple said.

On a related note, it was the first time the company faced Wall Street since the announcement last week that Tim Cook will be stepping down as CEO after 15 years on the job.

Going deeper, Apple said on the earnings call that revenue in the June quarter will increase between 14% and 17% from a year earlier.

On the substance, Analysts were expecting growth of 9.5% to $103 billion, according to LSEG.

The wider context

On a related note, the company's board authorized an additional $100 billion in stock repurchases and declared a cash dividend of 27 cents per share, up 4%.

Going deeper, Sales of iPhones rose 22% in the quarter from a year earlier.

On the substance, Cook said on the earnings call that the iPhone 17 is now the "most popular lineup in our history" and noted that overall revenue beat guidance "despite supply constraints." CFO Kevan Parekh said the company faced supply constraints on iPhones and Macs.

Beyond the headlines, In March, Apple announced a number of new products, including its iPhone 17e, a refreshed iPad Air laptop with an M4 chip in 11-inch and 13-inch sizes. it also unveiled the MacBook Neo, a low-cost laptop priced at $599 and aimed at students and budget-conscious consumers.

More precisely, Apple announced on April 20, that Ternus is succeeding Cook, who will become executive chairman on Sept.

The bottom line

• It was the first time the company faced Wall Street since the announcement last week that Tim Cook will be stepping down as CEO after 15 years on the job.
• The company's board authorized an additional $100 billion in stock repurchases and declared a cash dividend of 27 cents per share, up 4%.
• And while you're not going to get me to talk about the details of that roadmap, suffice it to say, this is the most exciting time in my 25-year career at Apple to be building products and services," Ternus said.
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