Korean component stocks buoyed by Apple’s strong Q1 earnings

2024.05.03 10:20:01 | 2024.05.03 10:20:09

[Graphics by Song Ji-yoon]이미지 확대

[Graphics by Song Ji-yoon]

South Korean component stocks gained ground on Friday following the announcement of Apple Inc.’s strong first-quarter results.

Shares of BH Co. were trading at 19,950 won ($14.59) as of 9:37 a.m., up 13.1 percent from the previous session.

LG Innotek Co. stock also gained 6.04 percent and LG Display Co. stock 1.73 percent.

On Thursday, Apple announced after New York stock closing that it posted $90.7 billion in revenue and $1.53 net profit per share.

The revenue beat market expectations of $90.01 billion compiled by financial market data provider LSEG. Earnings per share was also higher than the projections of $1.5.

Apple decided to pay a dividend of $0.25 per share and buy back $110 billion of its own shares. Apple shares gained by more than 6 percent in after-hours trading.

By Pulse

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