Apple beat earnings expectations but disappointed investors with its revenue forecast for next quarter, scuppering hopes that the share price could rapidly return to its all-time high of $100. Shares have dipped 1 per cent in after hours trading in New York on the back of this lower-than-expected guidance. However, muted sales of the iPhone and iPad in Apple’s third quarter did not prevent it from beating analysts’ earnings forecasts. Earnings of $1.28 per share compared favourably with analysts’ consensus estimates of $1.23, with gross margins reaching 39.4 per cent, a sharp increase over the prior year.
Join the FT’s Tim Bradshaw and Hannah Kuchler as they live blog the earnings call of the world’s largest company by market capitalisation.
After the market closes on Tuesday, Apple releases its third quarter earnings for the three months to the end of June. Its stock price has risen by more than 20 per cent since it beat forecasts with its last quarterly numbers, taking it close to its-all time high. Can Apple repeat the trick in what are likely to be the last results before the next iPhones arrive, and push its stock to $100?
Here’s what Wall Street is looking for this quarter: Read more
For the past year, new internet subscribers in the UK have had to make an “unavoidable choice”.
No, it’s not whether to pay for speeds of 152Mb per second, or whether to subscribe to Premiership football. It’s whether to turn on a “family-friendly network filter”, affectionately known as porn blockers.
And what did Brits decide? Read more
Xiaomi’s latest flagship smartphone looks much like Apple’s rival handsets except for one crucial difference: the price – which is less than half that of the similarly metallic iPhone 5s from the US group.
The steel handset was unveiled in Beijing by chief executive Lei JunLei on Tuesday, with reports that the crowd murmured “iPhone” as it was unveiled. Hugo Barra, the Google executive who joined Xiaomi as global vice-president last year, was also at the event. Read more
Arm shares are being treated like royalty today, despite being disdained as commoners at the open. Read more