Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Apple CEO Tim Cook speaking at a March press event. Photo: Apple

Apple reported quarterly sales and earnings on Tuesday that slightly topped analysts' expectations, with its outlook for the current quarter also ahead of estimates.

Why it matters: Last quarter, Apple issued a rare warning that the company would fall short of expectations amid lower iPhone demand.

The company reported per-share earnings of $2.46, 10 cents ahead of expectations, on revenue of $58 billion, slightly more than the $57.3 billion consensus estimate. Apple had said in January to expect revenue to be between $55 billion and $59 billion.

For the current quarter, which goes through the end of June, Apple said to expect revenue of $52.5 billion to $54.5 billion, compared to consensus estimates of just under $52 billion.

Stock up: Apple shares jumped on the news, trading up more than 5% in after hours, to $210.75, up $10.08, as of 4:45 pm ET.

What they're saying: On a conference call with analysts, CEO Tim Cook said of the last five months, November and December were the most challenging, suggesting an encouraging trend. "This has been an exciting and productive quarter for Apple," he said, highlighting the growth in iPad and services businesses.

By the numbers:

  • iPhone revenue totaled $31.05 billion, down from $37.56 billion a year ago, but in line or slightly ahead of most analyst expectations.
  • iPad revenue was $4.87 billion, up from around $4 billion a year ago.
  • Mac revenue was $5.51 billion, down slightly from a year ago.
  • Wearables and other home product sales were $5.13 billion, up from $3.94 billion a year ago.
  • Services revenue reached $11.45 billion, another record.

Go deeper

DeSantis declares state of emergency after deadly Miami-area condo collapse

Florida Gov. Ron DeSantis (R) declared a state of emergency after a portion of a 12-story residential building in Surfside, Florida, collapsed at approximately 1:30 a.m. Thursday, according to AP.

The latest: The executive order will allow for federal assistance as the state continues its search-and-rescue operations. Officials have accounted for 102 people who lived in the high-rise Champlain Towers South, but 99 people remained unaccounted for by mid-afternoon, said Mayor Daniella Levine Cava of Miami-Dade County at a press conference.

1 hour ago - World

Afghan president visits D.C. amid growing fears of Taliban takeover

An Afghan soldier stands guard at a mosque in Kabul. Photo: Wakil Kohsar/AFP via Getty

As Afghan President Ashraf Ghani was making his way to Washington to meet with President Biden, the Wall Street Journal revealed that the U.S. intelligence community believes his government may be toppled within six months of America's withdrawal.

Why it matters: As the Taliban gains territory and the U.S. pulls its remaining forces out, hopes of a potential peace deal in Afghanistan are giving way to fears of a rapid Taliban capture of Kabul.

1 hour ago - Health

Exclusive: Bipartisan group of senators urges Blinken to vaccinate Americans abroad

Secretary of State Antony Blinken. Photo: Pool/Getty Images

Sens. Chris Murphy (D-Conn.) and Jerry Moran (R-Kan.) are leading an effort urging the Biden administration to coordinate with the Defense Department to donate supplemental COVID-19 vaccine doses to U.S. embassies and consulates.

Why it matters: Millions of Americans living in countries where they are not considered eligible for the vaccine or those living in places where vaccines are not being authorized by the FDA or the World Health Organization may have to wait for months or even years to receive a vaccine.