Apple posts earnings beat, but iPhone sales fall short
Apple (AAPL) reported first quarter results that topped Wall Street's estimates. The tech giant reported adjusted earnings of $2.40 per share versus the Bloomberg consensus estimate of $2.35. Revenue of $124.3 billion was just above the expected $124.1 billion. In the release, Apple CEO Tim Cook dubbed it the company's "best quarter ever." When it comes to categories, iPhone sales were lighter than anticipated, $69.14 billion versus an expected $71.04 billion. However, Mac sales were stronger than analysts had been forecasting, $8.99 billion compared to the $7.94 billion estimate. Greater China revenue also fell short of estimates, $18.51 billion compared to an expected $21.57 billion. Asking for a Trend Anchors Josh Lipton and Julie Hyman recap the tech giant's results in the video above. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Stephanie Mikulich.