Below expectations (Previous Quarter results and current quarter projections):
Here's what analysts are expecting, via the Bloomberg Terminal.
Revenue: $49.4 billion
EPS: $1.81
iPhone units: 48.8 million (whisper number is 50 million)
iPad units: 10.9 million
Mac units: 4.9 million
Revenue guidance: $51.06 billion
This always happens with Apple, although I admit that 6.31% is a bit on the high side.
In general, Wall Street doesn't act the slightest bit rationally around Apple. No matter how record-breaking Apple's numbers are, there's always some insane analyst that projected even higher numbers, which means everybody then reports Apple as a "miss" (even though they always beat their own estimates, and meet or beat all of the sane analyst predictions, which is most of them). And since it's a "miss", stock drops.
Really, what's more shocking is those very rare times when the stock climbs after-hours after an earnings report (or after the WWDC keynote or the annual September event).
Stock tends to over-react in after-hours trading, I think. I don't do any after-hours trading, but it seems like it usually settles in someplace before market open the next day. I'm not saying it will or anything, but that seems to happen immediately after an earnings report is dropped.
expected 49-51b revenue. rev was at 49.6. i think aapl has been beating rev estimates for a while, while this one was right in the low end of expected
edit: was incorrect on my numbers.
spiralpolitik:
Expected revenue for Q3 was 46-48b (see Q2 earnings press release). So they beat the estimate by 1.6 billion.
The 49-51b number is the Q4 estimate.
CardenB|10 years ago
kumarm|10 years ago
Here's what analysts are expecting, via the Bloomberg Terminal.
Revenue: $49.4 billion EPS: $1.81 iPhone units: 48.8 million (whisper number is 50 million) iPad units: 10.9 million Mac units: 4.9 million Revenue guidance: $51.06 billion
eridius|10 years ago
In general, Wall Street doesn't act the slightest bit rationally around Apple. No matter how record-breaking Apple's numbers are, there's always some insane analyst that projected even higher numbers, which means everybody then reports Apple as a "miss" (even though they always beat their own estimates, and meet or beat all of the sane analyst predictions, which is most of them). And since it's a "miss", stock drops.
Really, what's more shocking is those very rare times when the stock climbs after-hours after an earnings report (or after the WWDC keynote or the annual September event).
JonFish85|10 years ago
frinxor|10 years ago
edit: was incorrect on my numbers.
spiralpolitik: Expected revenue for Q3 was 46-48b (see Q2 earnings press release). So they beat the estimate by 1.6 billion. The 49-51b number is the Q4 estimate.
Ecco|10 years ago
ajross|10 years ago