Apple Reports Better-Than-Expected Quarter Driven By iPhone Sales - Slashdot
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Apple Reports Better-Than-Expected Quarter Driven By iPhone Sales
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"The highlight of Apple's report was iPhone sales, which grew from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time," reports CNBC, citing an IDC estimate. "IPhone revenue grew 2% during the quarter, suggesting that parts shortages and supply chain issues that had hampered the product for the last few years, including an iPhone factory shutdown late last year, had finally abated." From the report: Here's how the company did versus Wall Street expectations per Refinitiv consensus expectations:
EPS: $1.52 vs. $1.43 expected
Revenue: $94.84 billion vs. $92.96 billion expected
Gross margin: 44.3% vs. 44.1% expected
Apple reported $24.16 billion in net income during the quarter versus $25.01 billion last year. Overall revenue was down 3% from last year's $97.28 billion in sales.
Here's how Apple's individual product lines did versus StreetAccount consensus expectations:
iPhone revenue: $51.33 billion vs. $48.84 billion expected
Mac revenue: $7.17 billion vs. $7.80 billion expected
iPad revenue: $6.67 billion vs. $6.69 billion expected
Other Products revenue: $8.76 billion vs. $8.43 billion expected
Services revenue: $20.91 billion vs. $20.97 billion expected
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