Consumer Electronics

Apple Confirms Decline in Earnings Even If Above Estimates

Apple Inc. (NASDAQ: AAPL) has now reported its quarterly earnings report, which was also the end of the technology giant’s fiscal year as well. Earnings came in at $8.26 per share (EPS) on sales of $37.5 billion. Estimates were down to $7.93 EPS from $8.67 EPS a year ago. Revenue was expected to be $36.84 billion, which would have been 2.4% sales growth from a year ago.

Apple’s quarterly net income was $7.5 billion. Gross margin came in about 37%. Apple had previous offered up guidance for this quarter of 36% to 37% margins on sales of $34 billion to $37 billion.

Tim Cook gave guidance of $55 billion to $58 billion in revenue this coming quarter versus estimates of $55.65 billion. The guidance was also shown in a range of 36.5 percent and 37.5 percent for gross margin. Apple’s cash, cash equivalents, and securities added up to almost $147 billion at the end of the September quarter.

International sales accounted for 60% of revenue in this last quarter. Unit sales were as follows:

  • 33.8 million iPhones, a record, and compared to 26.9 million in the year-ago quarter;
  • 14.1 million iPads, compared to 14 million in the year-ago quarter;
  • and 4.6 million Macs, compared to 4.9 million in the year-ago quarter.

Tim Cook showed that Apple generated a whopping $9.9 billion in cash flow from operations in the last quarter. The company also returned $7.8 billion in cash to shareholders through dividends and share repurchases.

Apple shares closed up 0.7% at $529.88 against a 52-week range of $385.10 to $603.00. Its 50-day moving average was $492.48 and 200-day moving average was $451.86 according to stockcharts.com ahead of he closing price on Monday going into earnings. Shares are indicated down around 3% around $513 in the after-hours trading session.

Tweets on Twitter updated below at 5:20 p.m. EST:

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.