We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Apple (AAPL) Q1 Earnings
Read MoreHide Full Article
Apple (AAPL - Free Report) reported $119.58 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.1%. EPS of $2.18 for the same period compares to $1.88 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $117.62 billion, representing a surprise of +1.66%. The company delivered an EPS surprise of +4.31%, with the consensus EPS estimate being $2.09.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Apple performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Greater China: $20.82 billion compared to the $23.32 billion average estimate based on two analysts. The reported number represents a change of -12.9% year over year.
Geographic Revenue- Europe: $30.40 billion compared to the $28.66 billion average estimate based on two analysts. The reported number represents a change of +9.8% year over year.
Geographic Revenue- Rest of Asia Pacific: $10.16 billion versus the two-analyst average estimate of $9.28 billion. The reported number represents a year-over-year change of +6.6%.
Geographic Revenue- Japan: $7.77 billion compared to the $7.15 billion average estimate based on two analysts. The reported number represents a change of +15% year over year.
Geographic Revenue- Americas: $50.43 billion versus the two-analyst average estimate of $49.83 billion. The reported number represents a year-over-year change of +2.3%.
Revenue- Wearables, Home and Accessories: $11.95 billion versus the seven-analyst average estimate of $11.27 billion. The reported number represents a year-over-year change of -11.3%.
Revenue- iPhone: $69.70 billion versus the seven-analyst average estimate of $68.64 billion. The reported number represents a year-over-year change of +6%.
Net Sales- Services: $23.12 billion compared to the $23.40 billion average estimate based on seven analysts. The reported number represents a change of +11.3% year over year.
Revenue- Mac: $7.78 billion versus the seven-analyst average estimate of $7.77 billion. The reported number represents a year-over-year change of +0.6%.
Net Sales- Products: $96.46 billion versus $94.45 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
Revenue- iPad: $7.02 billion compared to the $6.77 billion average estimate based on seven analysts. The reported number represents a change of -25.3% year over year.
Gross margin- Services: $16.84 billion versus the six-analyst average estimate of $16.79 billion.
Shares of Apple have returned +0.1% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Apple (AAPL) Q1 Earnings
Apple (AAPL - Free Report) reported $119.58 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.1%. EPS of $2.18 for the same period compares to $1.88 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $117.62 billion, representing a surprise of +1.66%. The company delivered an EPS surprise of +4.31%, with the consensus EPS estimate being $2.09.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Apple performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenue- Greater China: $20.82 billion compared to the $23.32 billion average estimate based on two analysts. The reported number represents a change of -12.9% year over year.
- Geographic Revenue- Europe: $30.40 billion compared to the $28.66 billion average estimate based on two analysts. The reported number represents a change of +9.8% year over year.
- Geographic Revenue- Rest of Asia Pacific: $10.16 billion versus the two-analyst average estimate of $9.28 billion. The reported number represents a year-over-year change of +6.6%.
- Geographic Revenue- Japan: $7.77 billion compared to the $7.15 billion average estimate based on two analysts. The reported number represents a change of +15% year over year.
- Geographic Revenue- Americas: $50.43 billion versus the two-analyst average estimate of $49.83 billion. The reported number represents a year-over-year change of +2.3%.
- Revenue- Wearables, Home and Accessories: $11.95 billion versus the seven-analyst average estimate of $11.27 billion. The reported number represents a year-over-year change of -11.3%.
- Revenue- iPhone: $69.70 billion versus the seven-analyst average estimate of $68.64 billion. The reported number represents a year-over-year change of +6%.
- Net Sales- Services: $23.12 billion compared to the $23.40 billion average estimate based on seven analysts. The reported number represents a change of +11.3% year over year.
- Revenue- Mac: $7.78 billion versus the seven-analyst average estimate of $7.77 billion. The reported number represents a year-over-year change of +0.6%.
- Net Sales- Products: $96.46 billion versus $94.45 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
- Revenue- iPad: $7.02 billion compared to the $6.77 billion average estimate based on seven analysts. The reported number represents a change of -25.3% year over year.
- Gross margin- Services: $16.84 billion versus the six-analyst average estimate of $16.79 billion.
View all Key Company Metrics for Apple here>>>Shares of Apple have returned +0.1% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.