Apple Inc.AAPL
▼ NegativeCapitalrelevance
Services revenue miss despite overall beat
Impact on stocks 1
Artificial Intelligence
Apple Inc.Apple Shares Fall 9.4% After Services Revenue Misses Estimates
Earnings
Apple shares dropped 9.4% in morning trading after the company reported second-quarter results that beat overall revenue and earnings estimates but revealed a miss in its key Services segment. The company posted revenue of $109.4 billion and earnings per share of $2.02, surpassing Wall Street expectations, yet the high-margin Services segment generated revenue of $30.7 billion, falling short of the $31.2 billion consensus estimate. This shortfall raised investor concerns about the growth trajectory of what has been a key driver of profitability for Apple, overshadowing otherwise solid performance and growth in its Products segment.
Apple Inc.Services revenue miss despite overall beat