Two of America’s fabled technology giants have traded places, with Apple playing tortoise to the hare that is Microsoft. jennifersaba
Apple said on July 30 revenue for quarter ending June 29 rose 1% year-over-year to $53.8 billion. The company earned $10 billion, or $2.18 per share compared with $11.5 billion, or $2.34 per share in the same period last year. That exceeded the mean analyst estimate for revenue of $53.4 billion and earnings of $2.10 a share, according to data from Refinitiv.
Sales of the company’s iPhones were $26 billion in the quarter, an 11% decrease from the same period last year. Services revenue rose 13% to $11.5 billion. Microsoft reported on July 18 that revenue for the three months ended June rose 12% year-over-year to $34 billion. Net income increased 49% to $13.2 billion.
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