Apple Inc., which has already taken its most
aggressive steps in years to blunt the effects of currency
swings on revenue, said sales will keep growing this quarter
even with the strengthening U.S. dollar.
“We’re guiding to a strong March quarter with revenue up between 14 and 20 percent and that’s in spite of the fact that you’ve heard from many U.S. companies these days that foreign exchange has become a challenge,” Chief Financial Officer Luca Maestri said Tuesday in an interview.
The dollar’s surge is reducing earnings at U.S. companies from Procter & Gamble Co. to Pfizer Inc. and DuPont Co. that make a large portion of their sales abroad. Apple, which got more than half its revenue in the most recent fiscal year from outside the U.S., has benefited from hedging and raised prices on iPhones in Russia and mobile software applications from Canada to Europe. The higher local prices help compensate when the revenue is converted back into dollars.
Apple’s shares rose in extended trading after it reported
profit and revenue that exceeded analysts’ average estimates for
the quarter ended Dec. 27, fueled by a 46 percent surge in
iPhone shipments to 74.5 million units.
Read more Click here / www.trade4x.net
“We’re guiding to a strong March quarter with revenue up between 14 and 20 percent and that’s in spite of the fact that you’ve heard from many U.S. companies these days that foreign exchange has become a challenge,” Chief Financial Officer Luca Maestri said Tuesday in an interview.
The dollar’s surge is reducing earnings at U.S. companies from Procter & Gamble Co. to Pfizer Inc. and DuPont Co. that make a large portion of their sales abroad. Apple, which got more than half its revenue in the most recent fiscal year from outside the U.S., has benefited from hedging and raised prices on iPhones in Russia and mobile software applications from Canada to Europe. The higher local prices help compensate when the revenue is converted back into dollars.
Read more Click here / www.trade4x.net
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