Apple Exceeds Revenue and Profit Estimates in Q3 on Strong iPhone and Mac Sales
Apple Inc (AAPL) reported better-than-expected revenue and profit for its fiscal third quarter, driven by strong sales of iPhones and Mac computers. The company's total revenue reached $109.42 billion, surpassing analyst estimates of $108.85 billion with a year-over-year increase of 16.4%. Earnings per share came in at $2.02, exceeding forecasts of $1.89 and rising by 28.7% compared to the same period last year. Despite these positive results, Apple's shares fell more than 4% in after-hours trading. iPhone revenue rose significantly to $54.25 billion, outpacing expectations, while Mac sales surged well above forecasts at $10.35 billion. However, services and iPad revenues missed estimates, with the latter declining by nearly 6%. Revenue growth was strongest in Europe (up 22.4%) and Japan (up 13.4%), though Greater China revenue also rose but fell short of expectations. Apple's gross margin increased to $54.77 billion, while operating income reached $35.7 billion—both above estimates. Net income climbed by 27.1% year-over-year to $29.79 billion.
Tickers: $AAPL
Topics: Apple Earnings Report iPhone Sales Mac Sales