Apple reported Tuesday that revenue and earnings during the Christmas shopping quarter exceeded Wall Street expectations, fueled by an increase in iPhone sales for the first time in a year and the growing demand for accessories, such as the AirPods wireless headphones.
Apple reported $ 91.8 billion in revenue for the quarter ending December 28, compared with analyst estimates of 88.5 billion, according to IBES data from Refinitiv. He also reported earnings per share of $ 4.99 against analyst estimates of $ 4.55 per paper.
Apple shares led the progress of each of the three main indices, earning 2.83%, before reporting that their sales and profits in the quarter of the year-end festivities exceeded Wall Street expectations.
But, on the other hand, Huawei Technologies, the largest smartphone maker in China, prospered in 2019 at the expense of its smaller Chinese rivals and Apple, despite the fact that the cell phone market contracted further and consumers inclined devices with 5G technology, showed data.
Huawei phone shipments, based in Shenzhen, grew 35.5% to 142 million in 2019, from 104.8 million the previous year, according to estimates by market research firm Canalys.
Apple iPhone shipments fell almost 21% year-on-year to 27.5 million. That happened at a time when the local smartphone market contracted 15% annually, according to the report published on Tuesday.
The growth of smartphone sales stagnated in 2018 and 2019, because consumers postponed their purchases, opting to expect companies to launch models that have 5G technology incorporated. Huawei has already put four of those models on the market in China, while Xiaomi Corp has launched two.
Losing access to Google services affected the company’s business abroad. However, sanctions boosted Huawei’s sales in China due to patriotic consumer purchases. An aggressive advertising campaign of the company has also helped.
Canalys estimates that iPhone sales fell 12% in the quarter ended December 31. In the previous quarter, they had fallen by 28%.