Technology

Apple (AAPL) said it will expand its core technology fee to iPadOS apps downloaded on its App Store later this year. “Developers operating under the new business terms for EU apps have the option to distribute their iOS apps in the EU via the App Store, Web Distribution, and/or alternative app marketplaces. These changes will also come to iPadOS later this fall,” Apple said in blog post. The Core Technology Fee, an element of the new business terms in the European Union that reflects the value Apple provides developers, is based on the number of first annual installs for an app in a 12-month period, the company said. Apple said developers whose apps do not surpass one million first annual installs per year and nonprofits, educational institutions, and government entities with an Apple Developer Program fee waiver do not pay the fee.

Apple(R) today announced financial results for its fiscal 2024 second quarter ended March 30, 2024. The Company posted quarterly revenue of $90.8 billion, down 4 percent year over year, and quarterly earnings per diluted share of $1.53. “Today Apple is reporting revenue of $90.8 billion for the March quarter, including an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “During the quarter, we were thrilled to launch Apple Vision Pro and to show the world the potential that spatial computing unlocks. We’re also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month. As always, we are focused on providing the very best products and services for our customers, and doing so while living up to the core values that drive us.” “Thanks to very high levels of customer satisfaction and loyalty, our active installed base of devices has reached a

Apple (AAPL) reported fiscal Q2 diluted earnings late Thursday of $1.53 a share, up from $1.52 a year earlier. Analysts surveyed by Capital IQ expected $1.50. Sales in the quarter ended March 30 were $90.75 billion, down from $94.84 billion a year earlier. Analysts surveyed by Capital IQ expected $90.45 billion. The iPhone maker increased its cash dividend by 4% to $0.25 per share, payable on May 16 to shareholders of record on May 13. The company’s board also approved an additional repurchase program of up to $110 billion of its common shares. Shares of the company climbed more than 6% in recent after-hours activity.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL posted Mar-Q EPS of $1.53 vs. $1.52, beating the $1.50 EPS estimate. Revenue fell 4%, near expectations, but a decline of only 8% in China was much better than feared (Mainland China up). By product, iPhones disappointed by declining 10% as Services grew a better-than-expected 14%. We note iPads fell 17% while Macs grew 4%. Gross margin of 46.6% widened from 44.3% a year earlier, slightly above our view, reflecting the relative outperformance in Services. Separately, AAPL announced its largest ever buyback of $110B (well above our $90B assumption that was announced the last two years) and hiked its dividend 4%, which we think demonstrates AAPL’s high conviction level for business prospects ahead. We’ll provide an update after the earnings call, but we believe these results