Apple beats by $0.05, reports revs in-line; iPhones miss; services and wearables roughly in line; China revs decline
- Reports Q1 (Dec) earnings of $2.40 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $2.35; revenues rose 4.0% year/year to $124.3 bln vs the $124.26 bln FactSet Consensus.
- Apple reports Q1 (Dec) iPhone revenue of $69.1 bln vs. $71.0 ests and $69.7 bln last year.
- Apple reports Q1 (Dec) services revenue of $26.3 bln vs. $26.2 bln ests and $23.2 bln last year.
- Apple reports Q1 (Dec) wearables revenue of $11.8 bln vs. $11.9 bln ests and $12.0 bln last year.
- Apple reports Q1 (Dec) greater China revenue of $18.5 bln vs. $20.8 bln.
- "Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 percent from a year ago," said Tim Cook, Apple's CEO. "We were thrilled to bring customers our best-ever lineup of products and services during the holiday season. Through the power of Apple silicon, we're unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we're excited that Apple Intelligence will be available in even more languages this April."
- "Our record revenue and strong operating margins drove EPS to a new all-time record with double-digit growth and allowed us to return over $30 billion to shareholders," said Kevan Parekh, Apple's CFO. "We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments."
- Apple CEO Tim Cook tells CNBC that yr/yr performance was stronger in markets where Apple Intelligence was rolled out. The company is still waiting on Apple Intelligence AI approval in China.
Apple earnings conference call update; sees Q2 total revs in line with consensus
- Co sees Q2 (Mar) total company revs to grow low to mid single digits (FactSet consensus +5.3%). The company expects Q2 services revenue to grow low double digits.
- Co sees Q2 F/X headwind of 2.5%.
- Co sees Q2 gross margin of 46.5%-47.5%.
- The company is seeing momentum in emerging markets.
- All time revenue record in several countries.
- The company reached 2.35 billion active devices, a new record.
- Expanding Apple Intelligence to more countries and more languages.
- Set all an time record for iPhone upgrades.
- The company has over 1 billion subs across services.
- Sales were better where Apple Intelligence was rolled out.