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Apple (AAPL) Q3 2023: BEAT
- Adj. EPS: $1.46 (BEAT, expected: $1.39)
- Revenue: $89.5 billion billion (BEAT, expected: $4.86 billion)
- Product revenues: MISS $67.18 billion versus $67.82 billion expected
- iPhone: BEAT $43.81 billion versus $43.73 billion expected
- Mac revenues MISS $7.61 billion versus $8.76 billion expected
- Wearables home, and accessories MISS $9.32 billion versus $9.41 billion expected
- Services revenue $22.31 billion versus $21.37 billion expected (+16% year on year)
- China MISS $15.08 billion versus $17.01 billion expected
Apple shares are trading down $2.65 or -1.44% at $174.70
CEO Cook says:
- iPhone 15 Pro and 15 Pro Max models are supply constrained,
- Cook does not expect to reach supply demand balance during current quarter
- Expects Mac sales to improve in the current quarter
September quarter revenue record for iPhone
All-time revenue record in services
