Apple Stock Surges After Earnings Beat

May 3, 2024 By MarketDepth

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Apple (AAPL:NASD) stock is up intraday as the company announced better than expected results and announces $110 stock buyback. The iphone maker announced revenue of $90.8 billion and an EPS of $1.53 per share. Beating analysts expectations of $90.3 billion and $1.50 EPS.

Apple sales in Asia have slid 8% year-over-year but still beat out expectations coming in at $16.37 billion. Even though sales were down from last year revenue still topped analysts which is why the company saw a pop in share price.

Apple stock was down almost 10% on the year prior to the positive earnings and is only down 3% on the year. Intraday the stock is up 7%.