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Payments solutions company $PAY reported a decrease in 2Q16 earnings due to difficult market dynamics. Net income decreased to $2.9MM or $0.03 per share in 2Q16 compared to $17.6MM or $0.15 per share in 2Q15. Total net revenues grew 7.4% to $526.3MM from last year. Non-GAAP net revenues were $532MM and non-GAAP EPS was $0.47 in 2Q16.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."