Apple Beats Earnings Expectations with Record Business Performance

Strategic Insights -

Apple Inc reported a 9.6% on-year sales growth in its third quarter ended June 30, beating earnings expectations with net income rising 9.2% to $23.43 billion. The firm's installed base of active devices reached a new all-time high across all product categories and geographic segments, driven by high customer satisfaction and loyalty. Apple's products and services sales continued to grow, with iPhones sales increasing 13% to $44.58 billion.

Key Takeaways:

  • Apple's third quarter net income rose 9.2% to $23.43 billion, beating FactSet-cited consensus for $21.26 billion.
  • The firm's installed base of active devices reached a new all-time high across all product categories and geographic segments.
  • Products sales were $66.61 billion, up 8.2% from $61.56 billion last year.
  • Services revenue was $27.42 billion, compared to $24.21 billion last year and higher than analyst calls for $26.80 billion.
  • iPhones sales rose 13% to $44.58 billion from $39.30 billion, ahead of consensus of $40.04 billion.
  • Apple raised its third quarter dividend to $0.26 from $0.25.
  • The firm did not provide guidance in its report.

Statistics:

  • Apple's third quarter net sales: $94.04 billion (up 9.6% from $85.78 billion last year).
  • Net income: $23.43 billion (up 9.2% from $21.45 billion last year).
  • Basic and diluted earnings per share: $1.57 (up from $1.40 last year).
  • Products sales: $66.61 billion (up 8.2% from $61.56 billion last year).
  • iPhones sales: $44.58 billion (up 13% from $39.30 billion last year).
  • Services revenue: $27.42 billion (up from $24.21 billion last year).

Sources:

  • Alliance News reporter Aidan Lane