Apple beats by $0.01, reports revs in-line; guides Q1 revs above consensus, gross margin below
- Reports Q4 (Sep) earnings of $1.67 per share, $0.01 better than the Capital IQ Consensus of $1.66; revenues fell 9.0% year/year to $46.85 bln vs the $46.98 bln Capital IQ Consensus. Apple reports Q4 gross margins 38.0% vs 38% ests vs 39.9% last year.
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iPhone shipments 45.5 mln vs 45.2 million ests and 48.05 million last year.
- iPads 9.3 mln vs 9.3 million ests versus 9.9 million in Q4 of last year.
- Macs 4.9 mln vs 5.2 million ests versus 5.7 million in Q4 of last year.
- Co issues upside guidance for Q1, sees Q1 revs of $76-78 bln vs. $75.33 bln Capital IQ Consensus; gross margins of 38.0-38.5% vs 39% ests vs 40.1% last year; op-ex $6.9-7.0 bln;
- "We are pleased to have generated $16.1 billion in operating cash flow, a new record for the September quarter."
- Rev by geography: Americas -7%; Europe +3%, Greater China -30%; Japan +10%, Asia Pac. -1%.