Apple announces reacquisition of shares
Apple has recently announced its profits of
$10.2 billion as a result of selling 43.7 million iPhones during three months
ending March, 29. It has also reported that they have plans to repurchase $30
billion of its stock from shareholders and lift its quarterly dividend by 8%.
Another important piece of news the
technology giant brought is that for the first time in nine years it is going
to split its stock. These changes are oriented towards appeasing
investors because the company declares slowing income growth.
Post-Christmas
Sales
The massive sale of iPhones surprised
analysts, who forecasted a significant decline in the post-holiday period. Sales of iPhones – the company’s most
popular product that contributes to more than a half of the firm’s income –
fell by 14% because users are waiting for new models. Anyway, they increased by
17% if compared with the same period earlier.
Tim Cook, chief executive, stated that they
are proud of the results, especially their high iPhone sales and huge income
from services. As far as earnings are concerned, Mr. Cook said that it was the
biggest non-holiday quarter ever. Apple faced fierce competition from Samsung
that sells smartphones at lower prices that run Android operating system.
Mr. Cook and the new financial director
Lucas Maestri tried to reassure investors about iPad sales that decreased 16%
and was the sharpest decline ever for this particular device. They also
discussed upon the way sales were calculated and emphasized that the iPad has
been sold faster than any other product in Apple’s history, with over 210
million units sold since 2010.
As far as the iPod music player is
concerned, it continues to drop steeply, falling to only 2.8 million units
during the second quarter, which is a 54% decline if compared to previous three
months.
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