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LEAD 1-Apple projects Q3 CA higher than consensus



(Updated price change, securities redemption details)

Stephen Nellis

SAN FRANCISCO, APRIL 30 (Reuters) – Apple expects third-quarter revenue to be higher than expected, and CEO Tim Cook said sales in China are starting to stabilize in China, which means that the price drop on the spot may reduce sales decline.

Shares earned more than 5% on the market at $ 211.50.

Apple expects $ 52.5 billion to $ 54.5 billion in the third quarter of June, which is more than a consensus that, according to IBC Refinitive, has reached $ 51.93 billion.

Tim Cook told Reuters that iPhone sales have improved over the past few weeks of the second quarter of its offbeat year, even in China.

"It makes us think things are a little better," he said.

Apple also posted $ 2.46 earnings per share in the second quarter, outperforming the $ 2.36 consensus and $ 58.02 billion in revenue (consensus: $ 57.37). billion).

IPhone sales reached $ 31.05 billion, slightly below consensus ($ 31.10 billion), according to FactSet.

Revenue from services such as Apple Music and App Store reached $ 11.45 billion and exceeded FactSet's $ 11.32 billion consensus.

Apple faces a slowdown in iPhone sales in key markets such as China, experiencing its first fall in annual sales during the holidays.

This can be explained by the fact that iPhone is expensive and competing with Huawei Technologies, Xiaomi, Oppo and Vivo; they all sell cheaper phones with features similar to those of the iPhone.

But price adjustments, a drop in Chinese iPhone taxes, and funding proposals have allowed iPhone to increase by the end of the quarter, Cook said.

Apple said it has 390 million subscribers to its equipment related to its equipment, whether internal or external. The target is 500 million subscribers by the end of 2020.

For nomadic products, Apple also defeated a $ 5.13 billion consensus versus $ 4.79 billion estimated by FactSet.

Apple finally announced that the Board of Directors approved the release of a further $ 75 billion to buy back securities, as well as a 5% to 77 cent dividend increase.

Apple said it spent $ 27 billion on securities redemptions and dividends during the second quarter, a record for the company. (Wilfrid Exbrayat for French Service)


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