Loup Ventures' Gene Munster weighs in on Apple and Amazon earnings
Gene Munster discusses Amazon and Apple earnings. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and Dan Nathan.
Apple shares were down more than 2% during extended trading on Thursday after the company reported a slight increase in second-quarter revenue to $58.3 billion, during a period in which supply and demand for Apple’s products was negatively affected by the Covid-19 pandemic.
Here’s how Apple did:
EPS: $2.55 per share, adjusted
Revenue: $58.3 billion
iPhone revenue: $28.96 billion
Services revenue: $13.34 billion
Mac revenue: $5.35 billion
iPad revenue: $4.36 billion
Wearables, Home, and Accessories revenue: $10.01 billion
Gross margin: 38.4%
“Amid the most challenging global environment in which we’ve ever operated our business we’re proud to say that Apple grew during the quarter,” Apple CEO Tim Cook said during a call with analysts.
Analysts surveyed by Refinitiv had expected $2.26 in adjusted earnings per share on $54.54 billion in revenue for the fiscal second quarter, with a 38.4% gross margin. With respect to fiscal third-quarter guidance, analysts polled by Refinitiv were looking for $51.54 billion in revenue and a gross margin of 38.5%. However, the impact of Covid-19 on economic activity has made it more difficult for analysts to accurately predict companies’ results.
Apple will also continue to buy back its stock amid the pandemic, the company said. It has authorized an increase of $50 billion in the company’s share repurchase program, in addition to a dividend of $0.82 per share. In Apple’s fiscal 2019, it spent $67.1 billion repurchasing shares and $14.1 billion on dividends.
However, Apple did not issue guidance for the quarter ending in June, as it usually does. The company withdrew guidance for its second-quarter in February as the Covid-19 coronavirus spread in China.
“There was a significant, very steep fall-off in February. That began to recover some in March, and we’ve seen further recovery in April. So, it leaves us room for optimism,” Cook said in an interview with CNBC’s Josh Lipton.
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Видео Loup Ventures' Gene Munster weighs in on Apple and Amazon earnings канала CNBC Television
Apple shares were down more than 2% during extended trading on Thursday after the company reported a slight increase in second-quarter revenue to $58.3 billion, during a period in which supply and demand for Apple’s products was negatively affected by the Covid-19 pandemic.
Here’s how Apple did:
EPS: $2.55 per share, adjusted
Revenue: $58.3 billion
iPhone revenue: $28.96 billion
Services revenue: $13.34 billion
Mac revenue: $5.35 billion
iPad revenue: $4.36 billion
Wearables, Home, and Accessories revenue: $10.01 billion
Gross margin: 38.4%
“Amid the most challenging global environment in which we’ve ever operated our business we’re proud to say that Apple grew during the quarter,” Apple CEO Tim Cook said during a call with analysts.
Analysts surveyed by Refinitiv had expected $2.26 in adjusted earnings per share on $54.54 billion in revenue for the fiscal second quarter, with a 38.4% gross margin. With respect to fiscal third-quarter guidance, analysts polled by Refinitiv were looking for $51.54 billion in revenue and a gross margin of 38.5%. However, the impact of Covid-19 on economic activity has made it more difficult for analysts to accurately predict companies’ results.
Apple will also continue to buy back its stock amid the pandemic, the company said. It has authorized an increase of $50 billion in the company’s share repurchase program, in addition to a dividend of $0.82 per share. In Apple’s fiscal 2019, it spent $67.1 billion repurchasing shares and $14.1 billion on dividends.
However, Apple did not issue guidance for the quarter ending in June, as it usually does. The company withdrew guidance for its second-quarter in February as the Covid-19 coronavirus spread in China.
“There was a significant, very steep fall-off in February. That began to recover some in March, and we’ve seen further recovery in April. So, it leaves us room for optimism,” Cook said in an interview with CNBC’s Josh Lipton.
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https://cnb.cx/2JdMwO7
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Видео Loup Ventures' Gene Munster weighs in on Apple and Amazon earnings канала CNBC Television
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