Apple beats by $0.08, reports revs in-line; guides Q4 revs above consensus (208.78 -0.90)
- Reports Q3 (Jun) earnings of $2.18 per share, $0.08 better than the S&P Capital IQ Consensus of $2.10; revenues rose 1.0% year/year to $53.81 bln vs the $53.39 bln S&P Capital IQ Consensus.
- iPhone revenue -12% to $26 bln vs. $26 bln ests
- Service rev +13% to $11.46 bln; iPad +8% to $5.0 bln; wearables, home accessories +48% to $5.5 bln
- Americas rev +2% to $25.06 bln Europe rev -2% to $11.9 bln China rev -4% to $9.16 bln Japan rev +6% to $4.08 bln Asia Pac +13% to $3.59 bln
- Q3 gross margin of 37.6% vs ests of 38.1% vs 38.3% last year; services gross margins 64.1% vs ests for slight improvement from 63.8% last quarter
- Co issues upside guidance for Q4, sees Q4 revs of $61-64 bln vs. $60.92 bln S&P Capital IQ Consensus; sees gross margin 37.5-38.5% vs ests of 38.3% and 38.3% last year.