Apple Beats Earnings in Ternus' First Quarter: Why Is the Stock Falling?

Apple beat Wall Street’s profit and sales forecasts in John Ternus’ first quarter as CEO. Its shares still slipped about 1% in after-hours trading, while sales in Greater China fell short. Apple earned $2.10 per share on revenue of $114.5 billion, up 12% from a year earlier. Analysts had expected about $2.00 and $113.4 billion. The stock closed at $338.32 on Monday, down 1.83%, then dipped to $335.00 after the report. Options traders had priced a swing of about 3.5%, per Pepperstone . Where Did Apple Beat and Where Did It Miss? Apple’s results kicked off a busy Wall Street week . However, the three things investors were watching to move price: Net income rose 12% to $30.71 billion. One-off tariff refunds added $0.05 to earnings per share, Apple said.

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