Apple Inc. (AAPL) released their earnings report for the third quarter of fiscal year 2018 on Thursday, October 17th. The company posted quarterly revenue of $52.3 billion and net income of $20.8 billion, both exceeding analyst’s expectations. In addition, Apple announced iPhone sales of 52 million units and iPad sales of 40 million units, both exceeding analyst expectations as well. With this strong financial performance and continued growth in their key product lines, investors are undoubtedly bullish on Apple stock right now! MarketWatch has all the latest AAPL news and analysis here.
Earnings released by Apple
In its earnings report for the fiscal fourth quarter and full fiscal year 2017, Apple Inc. reported net income of $38 billion and revenue of $215.1 billion. After-hours trading saw the company’s stock price rise more than 6% as the results exceeded analysts’ expectations.
Highlights of earnings
In the fourth quarter of 2017, net income was $38 billion, or $1.61 per share, compared to $32 billion, or $1.34 per share, in the fourth quarter of 2016. Net income also exceeded Thomson Reuters I/B/E/S’ consensus estimate of $1.47 per share.
The company generated revenue of $215.1 billion in the fourth quarter of 2017, exceeding analysts’ expectations of $210.5 billion. As a result of increased sales of iPhones, Macs, Apple Watches, AirPods and other products around the world, revenue for the full year also exceeded analysts’ expectations of $213.4 billion.
According to Tim Cook, Apple’s CEO, “These results reflect strong execution across our Products division and great progress in our Services business.” We are making great products people love to use.
Sales of iPhones continue to grow
In Q4 2017, iPhone sales grew 51% year over year to 74 million units, surpassing Wall Street estimates
Sales of iPhones surge
Following strong earnings and sales reports on Wednesday, Apple Inc. (AAPL) stock prices surged in after-hours trading.
As a result of record customer demand for the iPhone 7 and iPhone 7 Plus, along with Apple’s new AirPods headphones, iPhone sales jumped 51% year over year, reaching 37 million units.
The company’s CEO also discussed future products, including a redesigned Mac Pro desktop computer and a streaming service that would allow users to watch live TV shows and movies.
With analyst ratings suggesting that AAPL stock is undervalued compared to its competitors, this strong performance is likely to continue.
Sales of iPads increase
Apple Inc. (AAPL) announced earnings of $1.90 per share on revenues of $36.07 billion for the fiscal second quarter, beating Thomson Reuters consensus estimates by $0.12 per share and revenue by $1.92 billion. iPhone sales increased 38% year over year to 31 million, while iPad sales increased 16% year over year to 10 million representing 55% of Apple’s total revenue for the quarter. Apple will be investing $100 million in a new research and development facility in Arizona that will create hundreds of jobs, further highlighting its commitment to innovation in the face of increasing global competition from Android smartphones and other devices running on Google’s (GOOGL) Android operating system.
Apple’s stock prices are up today after the company reported earnings of $1.98 per share on revenue of $38.06 billion for its fiscal third quarter ended September 30, 2016. The company said sales of the iPhone 6 and 6 Plus led to increased demand, helping contribute to record quarterly revenue. iPhone sales accounted for two-thirds of total quarterly revenue, while iPad sales were up by more than 10%. Apple also announced that it has signed a deal with China Mobile to bring the first ever iOS app store to China. This deal is a major win for Apple as it expands into one of the world’s largest smartphone markets. The positive earnings news caused AAPL’s stock price to increase by 3.5% in after-hours trading, reaching an all-time high of $177.17 per share.
Apple also announced that it plans to invest $350 billion in new products and services over the next five years, including new products like the Apple Watch Series 2 and new services like Apple Music and iCloud storage space for users’ photos and videos. These announcements are likely to excite investors as they show that Apple is still committed to growth even as other tech giants face challenges in the marketplace. In addition, analysts are optimistic about upcoming product releases including updates to the iPhone SE, iPad Pro, Macbook Air and iMacs, which could lead to even more increased demand for AAP.
The latest AAPL news
Apple Inc. (AAPL) announced its quarterly results and provided an update on the company’s fiscal 2019 outlook. The company reported earnings of $2.90 per share on revenue of $51.06 billion, both exceeding the consensus estimate of $2.85 per share on revenue of $50.5 billion. iPhone sales surged 49% compared to the same period last year and iPad sales increased 23%. In its fiscal 2019 outlook, Apple said it expects revenue to grow between $60 billion and $62 billion, compared to analyst estimates for revenue growth of $58 billion. Management cited strong demand for iPhones, iPads, Macs, and other products as reasons for expecting growth in fiscal 2019.
A deal was also announced by Apple to acquire Shazam Entertainment Ltd., a music recognition app with over 50 million users. Apple’s Music app is expected to gain value from the acquisition, which is expected to be completed in early 2020. No terms were disclosed, but analysts anticipate it will add value to the app.
Also discussed during the earnings call were 1) continued improvement of iPhone XR performance; 2) preparations for new product releases; 3) augmented reality development; 4) plans for future retail stores; 5) investments in autonomous driving technology; 6) environmental initiatives; 7) workforce development initiatives; 8) efforts to reduce health care costs; 9) investments in China and other countries around the world; 10) payments strategy…