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Apple (AAPL - Free Report) just released its second quarter earnings report, and the investment world took notice as the company’s iPhone business becomes further scrutinized. With that said, let’s dive into how Apple’s most important business unit performed.
Apple’s Q2 marked the second full period that the company’s ultra-high priced iPhone X was on the market. The special-edition iPhone X has been a massive point of interest over the last few months, especially in the lead-up to Apple’s earnings results as speculation mounted that the company would kill the iPhone X.
Last quarter, iPhone sales accounted for roughly 70% of Apple’s revenue, after the company introduced two new models within months of each other. Apple sold a total of 77.32 million iPhone units during the holiday period. This marked a small decline from the 78.29 million the company sold in the year-prior period.
Heading into today, our consensus estimates were calling for Apple to report total iPhone unit sales of 52.94 million, which would have marked a 4.3% climb from the 50.76 million iPhones Apple sold in the year-ago quarter.
Our consensus figure was based on the research of 9 analysts and can be found in our exclusive non-financial metrics consensus estimate file. These estimates are updated daily and are based on the independent research of expert stock analysts.
According to today’s just-released report, Apple sold 52.22 million iPhone units in the quarter. That represents a 3% year-over-year climb and falls below our consensus estimate.
Apple did beat our quarterly earnings estimates, while the company matched our top line estimate after posting overall revenue of $61.1 billion.
Make sure to check back here for our full analysis of Apple’s report!
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.
Image: Bigstock
Apple's Q2 iPhone Sales Climb 3%, Miss Estimates
Apple (AAPL - Free Report) just released its second quarter earnings report, and the investment world took notice as the company’s iPhone business becomes further scrutinized. With that said, let’s dive into how Apple’s most important business unit performed.
Apple’s Q2 marked the second full period that the company’s ultra-high priced iPhone X was on the market. The special-edition iPhone X has been a massive point of interest over the last few months, especially in the lead-up to Apple’s earnings results as speculation mounted that the company would kill the iPhone X.
Last quarter, iPhone sales accounted for roughly 70% of Apple’s revenue, after the company introduced two new models within months of each other. Apple sold a total of 77.32 million iPhone units during the holiday period. This marked a small decline from the 78.29 million the company sold in the year-prior period.
Heading into today, our consensus estimates were calling for Apple to report total iPhone unit sales of 52.94 million, which would have marked a 4.3% climb from the 50.76 million iPhones Apple sold in the year-ago quarter.
Our consensus figure was based on the research of 9 analysts and can be found in our exclusive non-financial metrics consensus estimate file. These estimates are updated daily and are based on the independent research of expert stock analysts.
According to today’s just-released report, Apple sold 52.22 million iPhone units in the quarter. That represents a 3% year-over-year climb and falls below our consensus estimate.
Apple did beat our quarterly earnings estimates, while the company matched our top line estimate after posting overall revenue of $61.1 billion.
Make sure to check back here for our full analysis of Apple’s report!
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.
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