Apple (AAPL) Tops Q3 EPS by 4c; Issues Solid Outlook

Apple (NASDAQ: AAPL) reported Q3 EPS of $1.42, $0.04 better than the analyst estimate of $1.38. Revenue for the quarter came in at $42.4 billion versus the consensus estimate of $42.09 billion.

The company sold 40.399 million iPhones in the quarter versus the consensus of 40 million. The company sold 9.95 million iPads and 4.252 million Macs.

GUIDANCE:

Apple sees Q4 2016 revenue of $45.5-47.5 billion, versus the consensus of $45.71 billion.

“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Tim Cook, Apple’s CEO. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”

“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”

For earnings history and earnings-related data on Apple (AAPL) click here.

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