Apple (AAPL) Tops Q4 EPS by 20c; Issues Solid Q1 Revenue Outlook

(Updated - November 2, 2017 4:34 PM EDT)

Apple (NASDAQ: AAPL) reported Q4 EPS of $2.07, $0.20 better than the analyst estimate of $1.87. Revenue for the quarter came in at $52.6 billion versus the consensus estimate of $50.79 billion.

The company sold 46,677 million iPhone units in the quarter, slightly better than the consensus of 46 million units.

Apple sees Q1 revenue between $84 billion and $87 billion, versus the consensus of $85.31 billion.

Other Q1 guidance:

• gross margin between 38 percent and 38.5 percent
• operating expenses between $7.65 billion and $7.75 billion
• other income/(expense) of $600 million
• tax rate of 25.5 percent.

“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services,” said Tim Cook, Apple’s CEO. “With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”

“Apple’s year-over-year revenue growth rate accelerated for the fourth consecutive quarter and drove EPS growth of 24 percent in the September quarter,” said Luca Maestri, Apple’s CFO. “We also generated strong operating cash flow of $15.7 billion and returned $11 billion to investors through our capital return program.”

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

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