Apple (AAPL) Crushes Earnings; Twitter (TWTR) Stock Nosedives

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Twitter Inc (NYSE:TWTR) shares plunged more than 9 percent to $16.70 in after-hours trading Tuesday after the company reported its second-quarter earnings results.

The social media site posted earnings of $0.13 per share on revenues of $602 million, up 19.9% from a year ago. Analysts were expecting EPS of $0.09 on revenues of $607.41 million.

Twitter also offered guidance for the third-quarter, saying revenue should be somewhere between $590 million and $610 million, below the $681.34 million Wall Street was anticipating.

Monthly active users totaled 313 million, up 3% from a year earlier and slightly higher than analyst estimates of about 312.1 million.

With TWTR trading below $20, analysts have suggested that the company is becoming a potential acquisition target.

Apple Inc. (NASDAQ:AAPL) rallied $4.67 to $101.34 in after-hours trading after it reported fiscal results for the third-quarter.

In its quarterly report, the tech giant said it earned $1.42 per share, well above the $1.38 per share analysts were expecting. Revenues however, fell 14.6% year-over-year to $42.36 billion, above views for $42.10 billion.

The company said it sold 40.4 million units of iPhone, slightly higher than 40.2 million expected and lower the 47.5 million sold during the same period last year. iPad sales came in at 9.95 million units versus 8.7 million estimates. Macs : 4.2 million sold versus  4.6 million estimates. Meanwhile, sales in China plunged 7 percent from the same quarter last fiscal year, and 16% from the prior quarter, to $8.85 billion.

CEO Tim Cook said the company was pleased with the results, which he noted “reflect stronger customer demand and business performance than we anticipated at the start of the quarter.”

In terms of guidance for Q416, Apple expects revenues of $45.5 to $47.5 billion, as compared to analysts’ expectations of $45.80 billion.

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