Apple Inc. (just released its Q2 2016 earnings results, posting earnings of $1.42 per share and revenue of $42.4 billion. AAPL - Free Report)
Currently, AAPL has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Apple: Beat earnings estimates. The company posted earnings of $1.42 per share, beating our Zacks Consensus Estimate of $1.39. Beat revenue estimates. The company saw revenue figures of $42.4 billion, beating our estimate of $41.85 billion.
“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated in the start of the quarter,” said Apple CEO Tim Cook. He continued, stating that “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”
“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Lucas Maestri, Apple’s CFO.
AAPL was up $5.18, or 5.35%, to $101.84 as of 4:43 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Apple’s latest earnings performance:
Apple Inc. is engaged in designing, manufacturing and marketing mobile communication and media devices, personal computers, and portable digital music players. The company's products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings.
Check back later for our full analysis on Apple’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
Want the latest recommendations from Zacks Investment Research? Today, you can download
7 Best Stocks for the Next 30 Days. Click to get this free report >>