Apple Inc. broke its four-quarter streak of revenue declines in the holiday quarter, eking out 2% growth on the heels of better-than-expected iPhone sales.
Still, shares of Apple
AAPL,
fell 2% in extended trading Thursday after the company logged a sharp miss on revenue from Greater China.
The company generated $119.6 billion in fiscal first-quarter revenue, up from $117.2 billion a year before, and ahead of the FactSet consensus, which was for $118.0 billion.
Apple generated $20.8 billion in sales from Greater China, down from $23.9 billion a year earlier. Analysts were looking for $23.5 billion.
Sales from the iPhone segment increased to $69.7 billion from $65.8 billion, whereas analysts were calling for $67.6 billion.
Apple posted a sizable earnings beat for the December quarter, raking in net income of $33.9 billion, or $2.18 a share, up from $30.0 billion, or $1.88 a share, in the year-earlier period. Analysts had been modeling $2.10 in earnings per share.
Apple’s Mac business generated $7.8 billion in December-quarter revenue, up slightly from $7.7 billion a year ago but a bit behind the FactSet consensus, which was for $7.9 billion. Revenue from iPads sank to $7.0 billion from $9.4 billion, whereas analysts were looking for $7.4 billion.
The company notched $11.9 billion in revenue from its wearables, home and accessories segment, down from $13.5 billion a year before but ahead of the FactSet consensus, which was for $11.3 billion.
Services revenue jumped to $23.1 billion from $20.8 billion, while analysts were modeling $23.3 billion.
Americas sales came in at $50.4 billion, up from $49.3 billion a year before. The FactSet consensus called for $49.6 billion.
The stock is up 28% over 12-month span, as the S&P 500
SPX
has gained 19%.
