TECH - Big Quarterly Beats After the Bell: AAPL SQ COIN & More | Benzinga
Thursday, May 2nd, 2024
Market indices put up healthy numbers this Thursday. Following well-behaved Jobless Claims figures (but surprisingly worse Productivity/Unit Labor Costs), off a mostly down day Wednesday and a tough ride since Monday's high, markets forged higher: the Dow gained +322 points, +0.85%, the S&P 500 was +0.91%, the Nasdaq up an impressive +235 points, +1.51%, and the small-cap Russell 2000 +1.57%. Only the Russell is in the green over the past five sessions.
Apple (NASDAQ: AAPL) posted mild outperformance in its fiscal Q2 report this afternoon. Earnings of $1.53 per share beat expectations by 2 cents, on revenues of $90.75 billion which nudged higher than the $89.99 billion analysts were looking for. iPhone sales were slightly down from estimates, and more than -10% lower year over year. But the company has put forth the largest share buyback in history: $110 billion, while Apple's dividend yield has been raised to 25 cents per share. AAPL is now trading +3.5% in the late session. I guess it's official: Apple is now ...