Apple Inc. (NASDAQ:AAPL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.72%.
Apple Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 17.97% to $10.09 in the quarter versus EPS of $12.30 in the year-earlier quarter.
Revenue: Rose 11.27% to $43.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Apple Inc. reported adjusted EPS income of $10.09 per share. By that measure, the company beat the mean analyst estimate of $10.07. It beat the average revenue estimate of $42.59 billion.
Quoting Management: “We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”
Key Stats (on next page)…
Revenue decreased 20.01% from $54.51 billion in the previous quarter. EPS decreased 26.94% from $13.81 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $11.00 to a profit $9.08. For the current year, the average estimate has moved down from a profit of $47.97 to a profit of $43.66 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)