Apple’s chief financial officer says signs of a looming recession have failed to quell rampant consumer demand for the latest iPhone, Apple’s chief financial officer says, after the company beat expectations. of Wall Street for third-quarter revenue of $83 billion.
The California-based company reassured investors that it was looking to fix component shortages that have hampered sales of iPad tablets and Mac computers, although it warned accessory sales is starting to decline, while sales are down 1% in China. Apple shares rose 3.2% in post-market trading.
“For all of the challenges, Apple has shown considerable resilience, with $83 billion in revenue, leaving little room for critics,” said Hargreaves Lansdown analyst Sophie Lund-Yates. and the position of the corporation should not be underestimated.
“Apple used to have loyal customers handing it over on a plate, and while the company’s silver still looked polished, it took some grafting to keep it that way.”
Meanwhile, Amazon shares rose 13% in extended trading after the company posted results that beat analysts’ expectations, reporting revenue growth of 7.1% in the quarter to June. The company said it expects continued growth in the third quarter, thanks in part to charging more from its Prime subscription service after pushing up prices. The monthly Prime fee is set to rise £1 to £8.99 in the UK from September, the first increase since 2014.
Amazon lost $ 2 billion, led by a $ 3.9 billion loss in the value of its investment in electric car business Rivian.