Apple reports flat revenue and does not offer guidance because of coronavirus uncertainty

Apple reports flat revenue and does not offer guidance because of coronavirus uncertainty
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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…



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