Amazon, Apple beat quarterly earnings expectations

04:18

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Amazon, Apple beat quarterly earnings expectations

Shares in Apple fell more than 2% on Thursday after it reported a third straight quarter of revenue decline. The world's largest company by market value posted a 1.4% fall in revenues to almost $82B in the June quarter on weak iPhone sales, which make up almost half of its revenue. However, net profit ROSE in the three-month period by 2.3%, lifted by a rise in its services business. Amazon ALSO beat analyst expectations on Thursday, with its stock jumping 9% in after-hours trading. The e-commerce giant reported an 11% increase in revenue - to more than $134B on stronger-than-expected online sales.

August 7, 2023