November 2, 2017
Apple beat on quarterly earnings on Thursday. Cheddar Anchor Tim Stenovec breaks down the latest from the technology giant. Apple reported $2.07 EPS, versus analyst estimates of $1.87. For the quarter, Apple generated $52.6 billion in revenue, versus analyst expectations of $50.70 billion. Apple CEO Tim Cook said he is looking forward to a great holiday season. Notably, the company said it's seeing very strong demand for its new iPhone X. For the quarter, Apple sold 46.7 million units of iPhones. The technology giant now has $268.9 billion cash on hand. Apple forecasts next quarter's revenue to be between $84 billion and $87 billion.