Apple earnings are out!
It looks like Apple is slightly light on revenue, but strong on the bottom line.
For the most part, this is a snoozer of an earnings report with just about everything in line.
The big story from this report is that the iPad continues to flail. It missed expectations, and it’s down 9% on a year-over-year basis.
The iPhone is up 13%, which offsets the iPad’s drop. Still, people expected the iPad and iPhone to be twin engines that powered Apple.
It looks like it’s only going to be the iPhone.
The stock is flat so far.
- Revenue: $37.43 billion versus $38 billion expected
- EPS: $1.28 versus $1.23 expected
- iPhone unit sales: 35.2 million versus 35.3 million expected
- iPad unit sales: 13.3 million versus 14-15 million expected
- Macs: 4.4 million versus 3.9 million expected
- September quarter revenue: $37-$40 billion versus $40.4 billion expected
- September quarter gross margin: 37-38% versus 37.5% expected
To the charts: