Consumer electronics giant Apple (AAPL) has reported financial results that beat Wall Street’s estimates on the top and bottom lines.
The iPhone maker announced earnings per share (EPS) of $2.10 U.S., which topped the $1.99 U.S. consensus expectation of analysts. Tariff refunds added $0.05 U.S. to earnings per share.
Revenue in the period totaled $114.48 billion U.S., which was ahead of the $113.39 billion U.S. that Wall Street had penciled in for the company. Sales were up 12% from a year earlier.
Among its key divisions, Apple reported that its iPhone sales totaled $57.58 billion U.S. in the July through September quarter, surpassing estimates of $56.54 billion U.S.
The iPhone revenue only included eight days of new iPhone 18 Pro sales. The company’s new flagship device, the iPhone Duo, didn’t go on sale until October of this year.
MacBook computer revenue came in at $10.79 billion U.S., beating the $9.61 billion U.S. that was estimated.
And Apple said that revenue from its iPad tablet reached $6.23 billion U.S. in the latest quarter, below targets of $6.70 billion U.S.
In all, Apple reported a gross margin of 47.9%, which was ahead of the 47.5% that had been estimated among analysts.
It was Apple’s first quarterly earnings report under new CEO John Ternus, who took over from Tim Cook on Sept. 1.
In terms of guidance, Apple said it expects revenue to increase between 7% and 10% in the current fourth quarter, ahead of the 6.1% average analyst estimate.
Management at Apple also forecast a gross margin for the current quarter of 45% to 46%, slightly below the 46.3% average estimate on Wall Street.
The latest quarter reflects increased prices after Apple raised them across the board in June due to challenges with memory chip costs and other components.
In June, Apple increased prices across its line-up of iPhones by $100 U.S.
The iPhone maker said on its latest earnings call with analysts and media that it continues to manage a global memory chip shortage and strong global demand for computer components.
AAPL stock is down 4% immediately after its latest print. Over the past 12 months, the company has seen its share price rise 26% to $338.32 U.S.
Tech Insider
