Apple beat Q3 estimates on iPhone and services strength, with revenue up 4.9% to $85.8B. The stock rose 3.2% after hours. Next catalyst: September-quarter guidance.
Alpha Score of 64 reflects moderate overall profile with strong momentum, weak value, strong quality, moderate sentiment.
Apple Inc. reported fiscal third-quarter results that topped Wall Street forecasts, driven by stronger iPhone sales and a record services segment. Revenue came in at $85.8 billion, up 4.9% from a year earlier, the company said Thursday. Earnings per share reached $1.40, beating the $1.35 consensus compiled by Bloomberg.
iPhone revenue rose 2.5% to $39.3 billion, surprising analysts who had expected a decline. The company cited strong demand for the Pro models in China and India. Services revenue hit a new high of $24.2 billion, up 14%.
Gross margin widened to 46.3% from 45.5% a year earlier, helped by higher-margin services and lower component costs. The company said it expects a similar margin in the current quarter.
Apple's board declared a dividend of $0.25 per share, payable Aug. 15. The stock rose 3.2% in after-hours trading.
Chief Financial Officer Luca Maestri told analysts the company does not expect a material impact from foreign exchange in the current quarter. The company's September quarter revenue forecast calls for growth similar to the June quarter, he said.
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