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Apple (AAPL) iPhone Sales Off the Mark, Shares Up; Also SNAP, GILD & TMUS
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Apple Inc. (AAPL - Free Report) sold fewer iPhones in its fiscal Q2 2018: 52.2 million versus the 52.5 million expected. Earnings topped the Zacks consensus by 4 cents to $2.73 per share on $61.1 billion in sales, which was in-line with estimates. The world's biggest gadget-maker -- and Zacks Rank #4 (Sell)-rated stock ahead of the earnings report -- posted quarterly gross margin of 38.3%, and guided to a similar range for Q3: 38-38.5%.
The average selling price (ASP) for the iPhone also dropped a bit in the quarter, though overall revenues for the phone grew 14%. Apple sold 9.1 million iPads and 4.1 million Macs in the quarter, for overall sales growth of 16% year over year. The company also announced another massive share buyback program -- to the tune of $100 million -- as well as another 16% share dividend increase. Shares are still down year-to-date, but are up 4% on the earnings news. For more on AAPL's earnings, click here.
Snap Inc. (SNAP - Free Report) had a problematic quarter in its earnings report after the bell today, meeting bottom-line estimates of -17 cents per share but just $230.7 million in revenues well below the expected $246.1 million. Daily active users totaled 191 million, also beneath forecasts. The company did see total ad revenue rise 61% in the quarter, but with average revenue per user down 21% sequentially, costs per user are up. Shares are down double-digits in late afternoon trading. For more on SNAP's earnings, click here.
A tough quarter for Gilead (GILD - Free Report) was reported after Tuesday's close, with earnings of $1.48 per share well below the $1.66 expected and the year-ago number of $2.23 per share. Revenues did not fare any better, reaching just $5.09 billion from the $5.42 billion in the Zacks consensus. Guidance for Gilead's full year remained unchanged, with the Zacks consensus expecting $6.43 per share on $21.22 billion in sales prior to the earnings release.
Good news came from the company's recently acquired Kite Pharma treatment Yescarta, which blossomed to $40 million in sales from the $16 million in the previous quarter. Shares are down 5% in the after-market. For more on GILD's earnings, click here.
T-Mobile U.S. (TMUS - Free Report) , only a day removed from its long-awaited merger agreement with Sprint, posted a Q1 beat on both earnings and revenues: 78 cents per share versus 72 cents expected on $10.46 billion in sales that topped the $10.38 billion in the Zacks consensus. Net adds were also better than expected in the quarter, to 1.4 million from the 1.27 million estimated. T-Mobile hasn't missed earnings estimates since Q4 of 2015, with a trailing 4-quarter average earnings beat of 47.6%.
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Apple (AAPL) iPhone Sales Off the Mark, Shares Up; Also SNAP, GILD & TMUS
Apple Inc. (AAPL - Free Report) sold fewer iPhones in its fiscal Q2 2018: 52.2 million versus the 52.5 million expected. Earnings topped the Zacks consensus by 4 cents to $2.73 per share on $61.1 billion in sales, which was in-line with estimates. The world's biggest gadget-maker -- and Zacks Rank #4 (Sell)-rated stock ahead of the earnings report -- posted quarterly gross margin of 38.3%, and guided to a similar range for Q3: 38-38.5%.
The average selling price (ASP) for the iPhone also dropped a bit in the quarter, though overall revenues for the phone grew 14%. Apple sold 9.1 million iPads and 4.1 million Macs in the quarter, for overall sales growth of 16% year over year. The company also announced another massive share buyback program -- to the tune of $100 million -- as well as another 16% share dividend increase. Shares are still down year-to-date, but are up 4% on the earnings news. For more on AAPL's earnings, click here.
Snap Inc. (SNAP - Free Report) had a problematic quarter in its earnings report after the bell today, meeting bottom-line estimates of -17 cents per share but just $230.7 million in revenues well below the expected $246.1 million. Daily active users totaled 191 million, also beneath forecasts. The company did see total ad revenue rise 61% in the quarter, but with average revenue per user down 21% sequentially, costs per user are up. Shares are down double-digits in late afternoon trading. For more on SNAP's earnings, click here.
A tough quarter for Gilead (GILD - Free Report) was reported after Tuesday's close, with earnings of $1.48 per share well below the $1.66 expected and the year-ago number of $2.23 per share. Revenues did not fare any better, reaching just $5.09 billion from the $5.42 billion in the Zacks consensus. Guidance for Gilead's full year remained unchanged, with the Zacks consensus expecting $6.43 per share on $21.22 billion in sales prior to the earnings release.
Good news came from the company's recently acquired Kite Pharma treatment Yescarta, which blossomed to $40 million in sales from the $16 million in the previous quarter. Shares are down 5% in the after-market. For more on GILD's earnings, click here.
T-Mobile U.S. (TMUS - Free Report) , only a day removed from its long-awaited merger agreement with Sprint, posted a Q1 beat on both earnings and revenues: 78 cents per share versus 72 cents expected on $10.46 billion in sales that topped the $10.38 billion in the Zacks consensus. Net adds were also better than expected in the quarter, to 1.4 million from the 1.27 million estimated. T-Mobile hasn't missed earnings estimates since Q4 of 2015, with a trailing 4-quarter average earnings beat of 47.6%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>