Apple beats by $0.05, misses on revs; guides Q4 revs below consensus, gross margin in-line
Reports Q3 (Jun) earnings of $1.28 per share, $0.05 better than the Capital IQ Consensus Estimate of $1.23; revenues rose 6.0% year/year to $37.43 bln vs the $38.02 bln consensus.
* Q3 gross margin of 39.4% vs. Street expectations of ~37.9% and 36.9% last year.
* iPhone units of 35.2 mln vs. Street expectations of just Under 36 mln and 31.2 mln last year
* iPad units of 13.3 mln vs Street expectations of just under 14.5 mln and 14.6 mln last year.
* Mac units of 4.4 mln vs Street expectations of just under 4 mln and 3.8 mln last year.
Co issues downside guidance for Q4, sees Q4 revs of $37-40 bln vs. $40.46 bln Capital IQ Consensus; sees Q4 gross margins of 37-38% vs. Street expectations of just under 37.5% (vs. 37% last year.
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