APPLE BEATS ON EARNINGS, ANNOUNCES STOCK SPLIT, STOCK EXPLODES HIGHER
Courtesy of Jay Yarow at Business Insider
Apple earnings are out!
The stock is up ~8% in immediate reaction to the news.
Apple shipped 43.7 million iPhone, up 17% year-over-year, blowing away expectations.
Revenue was $45.6 billion, growing 4% year-over-year, also beating expectations.
The iPad number was a giant miss, though. Apple sold 16.35 million, which is a 16% drop on a year-over-year basis.
In the release, CEO Tim Cook said, "We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services … We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market."
Apple also announced a 7-for-1 stock split, and an increase in its buyback program and dividend.
Here are the big numbers:
- Revenue: $45.6 billion versus $43.6 billion expected
- EPS: $11.62 versus $10.16 expected
- iPhones: 43.7 million versus 37.7 million expected
- iPhone ASP: $596 versus $610 expected
- iPads: 16.35 million versus 19.7 million units expected
- iPad ASP: $465 v $430
- Macs: 4.1 million versus 4.03 million expected
- iPods: 2.76 million versus 2.99 million expected
- Gross Margin: 39.3% versus 37.7% expected
- Q3 Revenue: $36-38 billion versus $38.1 billion expected
This post is being updated as we go, so hit refresh for the latest, or just click here.
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