Posted on 01/27/2016 11:10:51 AM PST by Swordmaker
On January 26, 2016, Apple (AAPL) announced its fiscal 1Q16 results. Its revenues of $75.9 billion were lower than analysts' estimates of $77 billion. But EPS (earnings per share) of $3.28 was better than the $3.25 that analysts were expecting.
Apple's EPS grew from $3.06 in fiscal 1Q15 to $3.28 in fiscal 1Q16, mainly due to the aggressive share buyback program it's been following.
Apple's net income (or earnings) was $18.4 billion on revenues of $75.9 billion for fiscal 1Q16, beating consensus analyst estimates of $18.2 billion. In comparison, Apple's net income and revenues for fiscal 1Q15 were $18 billion and $74.6 billion, respectively. Apple had earlier projected revenues of $75.5â$77.5 billion in its October 2015 guidance.
Tim Cook, Apple's CEO (chief executive officer), said, "Our team delivered Apple's biggest quarter ever, thanks to the world's most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV. The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices."
Apple projected revenues of $50 - $53 billion in fiscal 2Q16.
It will also be interesting to see the performances of Apple's suppliers, including Qorvo (QRVO) and Skyworks Solutions (SWKS). Shares of these companies have spiraled downward since analysts projected lower iPhone sales.
Apple constitutes 11.3% of the Power Shares QQQ ETF (QQQ) and 15.8% of the Technology Select Sector SPDR ETF (XLK).
(Excerpt) Read more at marketrealist.com ...
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Thanks for the heads up. . .
Oh well. I expect they’ll still pay their dividend.
My pleasure, for want of a better phrase. An exec from their widely rumored Applemobile project has resigned as well.
An exec resigning from a major yet secret project doesn’t mean anything because we don’t know anything. Could have decided it just wasn’t his thing; could have been pushed out for not performing; could have bailed because the project wasn’t performing ... heck, we don’t even know that there’s really an “Apple Car” project per se or if it’s something related or unexpected.
Odd... (not) - Apple stock down, analysts panning Apple as a failure... all on news of a massive RECORD quarter....
Sigh...
I was doing some googling and found reports following Apple's Financial calls in 2014 and 2015 for the same fiscal quarter when Apple had reported similar record breaking revenues, production, and sales of its products. Amazingly the litany of doom and gloom from the same group of ANAL-CYSTS (pimples on the nether-most orifice sphincter of Wall Street) written after both of those events is exactly identical, almost word-for-word, to what they are writing today. You could pick up one of the articles from those years and merely change the dates, the numbers, and you could publish it today and no one would notice the difference.
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