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Apple Reports Strong Third-Quarter Results (cnbc.com)
Apple reported strong third-quarter results Tuesday, posting big beats on earnings per share and average iPhone selling price. CNBC highlights how Apple did compared with Wall Street projections:
EPS: $2.34 vs. $2.18, according to Thomson Reuters consensus estimates
Revenue: $53.3 billion vs. $52.34 billion, according to Thomson Reuters consensus estimates
iPhone sales: 41.3 million vs. 41.79 million, according to StreetAccount Apple reportedly sold 41.3 million iPhones in the last quarter and 11.55 million iPads, both beating estimates. The average selling price of iPhones last quarter was $724, versus the expected $693.59. Apple also sold 3.7 million Mac computers.
Apple's services revenue accounted for just 15 percent of Apple's total revenue for the second quarter, but CNBC notes that it's "been outpacing iPhone revenue growth for several quarters." The company hopes to double services revenue to more than $14 billion a quarter by 2020. Looking forward, all eyes will be on the next iPhone. Apple is expected to launch new iPhone models at the end of the quarter, in mid-September.
Revenue: $53.3 billion vs. $52.34 billion, according to Thomson Reuters consensus estimates
iPhone sales: 41.3 million vs. 41.79 million, according to StreetAccount Apple reportedly sold 41.3 million iPhones in the last quarter and 11.55 million iPads, both beating estimates. The average selling price of iPhones last quarter was $724, versus the expected $693.59. Apple also sold 3.7 million Mac computers.
Apple's services revenue accounted for just 15 percent of Apple's total revenue for the second quarter, but CNBC notes that it's "been outpacing iPhone revenue growth for several quarters." The company hopes to double services revenue to more than $14 billion a quarter by 2020. Looking forward, all eyes will be on the next iPhone. Apple is expected to launch new iPhone models at the end of the quarter, in mid-September.
Apple beats earrings most quarters, because while other phone makers focus on adding more notches to phones or producing big budget ads to mock the iPhone, Apple keeps quietly incrementally improving products across the board and making devices better and better... even older devices people already own.
Apples strategy of constantly improving even old devices is finally starting to pay off as after several years users are bound to update anyway, so if you keep them happy that whole time they will naturally move on to another Apple product.
Of course the results are helped a lot by the iPhone X which is currently way more usable than other phones thanks to FaceID and removing the home button. Really looking forward to seeing iPad sales surge again when those technologies reach the iPad.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
Apple makes projections that are conservative (which they always tell you up front).
Instead what they beat were estimates from people whose entire job it is to figure out how MUCH Apple has sand-bagged estimates, and produce a larger number.
THAT is the number Apple beat, partially because a lot of the analysts for some reason listen to people like you instead of trying to understand Apple's market
"There is more worth loving than we have strength to love." - Brian Jay Stanley