The daily business briefing: January 30, 2019

Apple shares jump, U.S. and China negotiators start trade talks, and more

An Apple store in China
Apple reported declining revenue for the second straight quarter
(Image credit: Feng Li/Getty Images)

1. Apple shares soar after earnings report

Apple shares jumped by 6 percent in after-hours trading Tuesday after the iPhone maker reported quarterly earnings mostly in line with expectations, although iPhone revenue came in just below projections. "Our customers are holding on to their older iPhones a bit longer than in the past. When you paired this with the macroeconomic factors particularly in emerging markets, it resulted in iPhone revenue that was down 15 percent from last year," CEO Tim Cook said on the company's earnings call. On the plus side, revenue from services totaled $10.9 billion, compared to $10.87 billion forecast by Refinitiv consensus estimates.

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