Apple Tops Analysts, but Investors Want More

By Chris Lange Updated Oct 30, 8:40AM EDT · Published Oct 29, 4:43PM EDT

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Apple Tops Analysts, but Investors Want More — © Eric Thayer / Getty Images News via Getty Images

Apple Inc. (NASDAQ: AAPL | AAPL Price Prediction) released its most recent quarterly results after markets closed Thursday. The iPhone giant reported record numbers of $0.73 in earnings per share (EPS) and $64.7 billion in revenue for the quarter. This compares with consensus estimates that called for $0.70 in EPS and $63.7 billion in revenue. The fiscal fourth quarter from last year had $0.76 in EPS and $64.04 billion in revenue.

One thing to note is that International sales accounted for 52.6% or $34.0 billion of the quarter’s revenue.

Apple’s board of directors declared a cash dividend of $0.205 per share of common stock. The dividend is payable on November 12, to shareholders of record as of the close of business on November 9.

For the quarter, the firm reported its product sales as follows:

iPhone pulled in revenues of $26.44 billion, a decrease of 20.7% year over year.
Mac revenues increased by 29.2% to $9.03 billion.
iPad revenues increased 46.0% to $6.80 billion.
Wearables, Home and Accessories revenues increased by 20.8% to $7.88 billion.
Services revenues increased by 16.3% to $14.55 billion.

On the books, Apple’s cash, cash equivalents and marketable securities totaled $90.94 billion at the end of the quarter, versus $100.56 billion at the end of the previous fiscal year.

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The company did not give guidance for the quarter noting the lack of visibility and uncertainty in the short term. The consensus estimates call for $1.37 in EPS on $101.01 billion in revenue for the fiscal first quarter.

Shares of Apple closed Thursday at $115.32, in a 52-week range of $53.15 to $137.98. The consensus price target is $121.77. Following the announcement, the stock was initially down about 5% at $109.97 in the after-hours session.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.