5 Companies Making Headlines Following Earnings Reports

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) recently posted its fiscal second-quarter profit and sales above expectations. However, the world’s most valuable company warned that the production challenges could wipe out $4 – $8 billion of its revenue in the current quarter. Apple stock turned red in the pre-market trading session on Friday, April 29, following the warning.

For its fiscal second quarter, Apple Inc. (NASDAQ:AAPL) reported adjusted earnings of $1.52 per share, topping expectations of $1.43 per share. Revenue for the quarter rose 8.59 percent on a year-over-year basis to $97.28 billion, beating estimates of $93.89 billion.

Apple Inc. (NASDAQ:AAPL) also disclosed the sales performance of its flagship products and segments. Its iPhone revenue rose 5.5 percent to $50.57 billion and represented more than half of its total quarterly sales. In comparison, Mac revenue jumped 14.73 percent to $10.44 billion, while iPad revenue slipped 1.92 percent to $7.65 billion in the quarter.

In addition, the company’s Services revenue jumped 17.28 percent to $19.82 billion, while revenue from its Other Products segment, which includes its wearables, home speakers and accessories, rose 12.37 percent to $8.81 billion in the quarter.

Among other updates, Apple Inc. (NASDAQ:AAPL) increased its dividend by 5 percent to 23 cents per share. Moreover, its board authorized a plan for repurchasing an additional $90 billion worth of its common stock.