Apple earnings:
- EPS $1.40 versus $1.34 expected: BEAT
- Revenues $85.78 billion versus 84.44B expected: BEAT
Other details:
- China Revenue: actual $14.73 billion (-3% on a constant currency basis) Expected to be $15.26 billion, down 3.1% from $15.7 billion last year. MISS
- iPhone Actual $39.3 billion. Sales are expected to be $38.9 billion, down 1.8% year over year from $39.6 billion.BEAT
- Services Revenue: Actual $24.21 billion. Anticipated to reach $23.9 billion, up from $21.2 billion last year. BEAT
- iPad Sales: Actual $7.16 billion. Expected to be $6.6 billion, up from $5.7 billion last year.: BEAT
- Mac Revenue: Actual $7.01 billion Expected $7.02 billion to grow modestly compared to last year’s decline of 7.3%. MET
- Wearables: Actual $8.10 billion. Expected $7.79 billion . BEAT
Gross margins 46.3% versus 46.1% expected. BEAT
Cash pile $153 billion down from $162.3 billion last quarter.
Most of the breakdown BEAT expectations, but after Amazon missed on revenues, Intel earnings were horrible, and the declines seen in equities today, the mood is not great.
Shares are trading above and below unchanged at $218.36
With 6 of the Mag 7 reporting now Tesla misses on EPS, Amazon missed on Revenues. Nvidia is not scheduled for release until August 28.
