Apple surprised Wall Street today with stronger than expected earnings!
Apple reported earnings of $9.5 billion on $43.6 billion in sales. That was right on target with the $9.5 billion in profit and above the $42.3 billion in sales Wall Street expected, and above Apple’s own expectations, which were between $9.23 and $10.23 per share on sales of $41 billion to $43 billion.
By comparison, Apple tallied up a higher $11.6 billion in profit on sales of $39.2 billion during the same quarter last year. That was fueled by iPhone and iPad sales that were 88 percent and 151 percent better than the year before, respectively.
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” Apple CEO Tim Cook said in a statement. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”
For its next quarter, Apple said it expects sales between $33.5 and $35.5 billion and a margin between 36 and 37 percent, which is less than the $38.6 billion in sales and 38.6 percent margin analysts, on average, were expecting ahead of the call.
Here are all of the important numbers:
- Revenue – $43.6 billion
- EPS (earnings per share) – $10.09
- Gross margin – 37.5%
- iPhones – 37.4 million
- iPads – 19.5 million
- Macs – Just under 4 million
- iPods – 5.6 million