Apple beats on revenue and profit, expects growth to accelerate despite ‘pockets of softness’
$Apple (AAPL.US)$ reported fiscal third-quarter earnings on Thursday that beat Wall Street expectations for sales and profit but showed slowing growth for the iPhone maker.
Apple did not provide formal guidance for the quarter.
“In terms of an outlook in the aggregate, we expect revenue to accelerate in the September quarter despite seeing some pockets of softness,” Apple CEO Tim Cook told CNBC’s Steve Kovach.
Here are the key numbers compared to what Wall Street was expecting, per Refinitiv estimates:
EPS: $1.20 vs. $1.16 estimated, down 8% year-over-year
Revenue: $83 billion vs. $82.81 billion estimated, up 2% year-over-year
iPhone revenue: $40.67 billion vs. $38.33 billion estimated, up 3% year-over-year
Services revenue: $19.60 billion vs. $19.70 billion estimated, up 12% year-over-year
Other Products revenue: $8.08 billion vs. $8.86 billion estimated, down 8% year-over-year
Mac revenue: $7.38 billion vs. $8.70 billion estimated, down 10% year-over-year
iPad revenue: $7.22 billion vs. $6.94 billion estimated, down 2% year-over-year
Gross margin: 43.26% vs. 42.61% estimated
Apple did not provide formal guidance for the quarter.
“In terms of an outlook in the aggregate, we expect revenue to accelerate in the September quarter despite seeing some pockets of softness,” Apple CEO Tim Cook told CNBC’s Steve Kovach.
Here are the key numbers compared to what Wall Street was expecting, per Refinitiv estimates:
EPS: $1.20 vs. $1.16 estimated, down 8% year-over-year
Revenue: $83 billion vs. $82.81 billion estimated, up 2% year-over-year
iPhone revenue: $40.67 billion vs. $38.33 billion estimated, up 3% year-over-year
Services revenue: $19.60 billion vs. $19.70 billion estimated, up 12% year-over-year
Other Products revenue: $8.08 billion vs. $8.86 billion estimated, down 8% year-over-year
Mac revenue: $7.38 billion vs. $8.70 billion estimated, down 10% year-over-year
iPad revenue: $7.22 billion vs. $6.94 billion estimated, down 2% year-over-year
Gross margin: 43.26% vs. 42.61% estimated
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