From Yahoo!Finance, data points:
- shares up 3% after hours in response to news
- revenue: $78.4 billion vs $77.4 billion
- EPS: $3.36 vs $3.21
- iPhones: 78.3 units sold; vs 76.3 forecast
- Apple's highest quarterly revenue ever
- iPhone's biggest quarter ever
“We’re thrilled,” said CEO Tim Cook in a press release. “We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch… and we are very excited about the products in our pipeline.”Wait until tomorrow when all those shorts start covering.
The big number to pay attention to with Apple earnings these days, as Yahoo Finance’s Dan Howley notes, is average selling price (ASP) for iPhone. This time, ASP came in at $694.57, beating the $691 ASP of the first quarter last year, and beating Wall Street expectations of $688.
That’s an all-time high for ASP, indicating Apple devotees bought up iPhone 7 and iPhone 7 Plus, despite the controversy over Apple removing its headphone jack.
No mention of all that cash overseas.
Disclaimer: this is not an investment site.
Apple Watch? Fitbit is history:
Fitbit: to cut 10% of workforce; will miss guidance by large margin; shares down significantly in pre-market trading. AAPL earnings come out tomorrow. If I recall correctly, Fitbit had a bad quarter three months ago, also. Did I mention that AAPL earnings were coming out tomorrow. Link over at CNBC.Over at Macrumors:
- iPhone 7 is most popular "plus" model Apple has released
- outsold the 2014 iPhone 6 Plus and the 2015 iPhone 6s Plus
- the dual camera appears to have been particularly well accepted by customers
- Apple had underestimated demand for the iPhone 7 Plus, leading to supply and demand issues; impacted sales
Apple blows away the analysts. Prior to release:
- • Mark Moskowitz of Barclays: $76.6 billion
- • Timothy Arcuri of Cowen and Company: $76.68 billion
- • Steven Milunovich of UBS: $76.8 billion
- • Amit Daryanani of RBC Capital Markets: $76.9 billion
- • Rod Hall of J.P. Morgan: $76.9 billion
- • Bloomberg News compiled average: $77 billion
- • Yahoo Finance compiled average: $77.38 billion
- • Reuters compiled average: $77.4 billion
- • Brian White of Drexel Hamilton: $77.61 billion
- • Neil Cybart of Above Avalon: $80 billion
Sultans of Swing.