Posted on 07/31/2018 1:50:44 PM PDT by Enlightened1
EPS grew by 40 percent year-over-year, and revenue grew by 17 percent year-over-year.
The 41.3 million iPhones shipped during the third quarter is basically flat from the year-ago period, but the ASP of $724 is a notable jump.
The quarterly report comes after a market rout for major tech stocks.
Apple reported strong third-quarter results Tuesday, posting big beats on earnings per share and average iPhone selling price.
Here's how the company did compared with Wall Street projections:
EPS: $2.34 vs. $2.18, according to Thomson Reuters consensus estimates Revenue: $53.3 billion vs. $52.34 billion, according to Thomson Reuters consensus estimates iPhone sales: 41.3 million vs. 41.79 million, according to StreetAccount
The quarterly report comes after a market rout for major tech stocks. Silicon Valley giants Facebook and Twitter each shed 20 percent after disappointing reports last week.
Shares of Apple rose 2 percent in extended trading.
Apple fell right in line with analyst projections for strong upsides. EPS grew by 40 percent year-over-year, and revenue grew by 17 percent year-over-year.
Many were hanging high hopes on Apple's flagship handset and its climbing average selling price (ASP). The 41.3 million iPhones shipped during the third quarter is basically flat from the year-ago period, but the ASP of $724 is a notable jump from the year-ago period. That ASP bump is likely be because of the pricey iPhone X, which starts at $999.
(Excerpt) Read more at cnbc.com ...
Ping.
EPS grew by 40 percent year-over-year, and revenue grew by 17 percent year-over-year.
...
That’s amazing for such a large company.
The Chinese who slave 18 hours a day making nothing wages do a great job making Apple products. Apple is a very iconic brand to the left as the left is very concerned about working conditions and wages. That concern will not interfere with having the latest i-Phone.
Apple is a very important brand for the right.
Funny you should mention the Chinese...Apple has been trying for years to penetrate that market with very little success to date.
It will be interesting to see whether or not that changes over the next year as the Chinese trade imbalance with the US unwinds.
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