Tim Cook did it again, sort of. The company posted better than expected results, and even guided up. Margins were a little soft. But who really gives a shit about that?
From a layman’s viewpoint, those iPhone sales are looking awfully PCish, coming in at 40.4, down from 47.5 last year. Growth has slowed to the point that this is now a financial engineering company, one that will benefit from cost cuts. Apple is the new Dell.
- Reports Q3 (Jun) earnings of $1.42 per share, $0.04 better than the Capital IQ Consensus of $1.38; revenues fell 14.6% year/year to $42.36 bln vs the $42.1 bln Capital IQ Consensus; gross margins of 38.0% vs 37.9% ests vs 39.7% last year.
- iPhones 40.4 mln vs 40.2 mln ests vs 47.5 mln last year.
- iPads 9.95 mln vs 8.7 mln ests vs 10.9 mln last year.
- Macs 4.2 mln vs 4.6 mln ests vs 4.4 mln last year.
- Americas rev -11%; Europe -7%; China -33%; Asia/Pac -20%.
- Co issues upside guidance for Q4, sees Q4 revs of $45.5-47.5 bln vs. $45.8 bln Capital IQ Consensus Estimate; gross margin 37.5-38% vs. 38.3% ests.
Shares are higher in the after hours by 5%.
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except Dell sucks and people aren’t attached to a Dell device that they keep in their pocket, nobody switches from an iphone to something else…I tried…not a good experience.
+1