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Apple (AAPL) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Apple (AAPL - Free Report) reported $90.75 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.3%. EPS of $1.53 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of +0.85% over the Zacks Consensus Estimate of $89.99 billion. With the consensus EPS estimate being $1.51, the EPS surprise was +1.32%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $16.37 billion versus $16.59 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.1% change.
Geographic Revenue- Europe: $24.12 billion compared to the $22.35 billion average estimate based on two analysts. The reported number represents a change of +0.7% year over year.
Geographic Revenue- Rest of Asia Pacific: $6.72 billion compared to the $7.04 billion average estimate based on two analysts. The reported number represents a change of -17.2% year over year.
Geographic Revenue- Japan: $6.26 billion compared to the $6.42 billion average estimate based on two analysts. The reported number represents a change of -12.7% year over year.
Geographic Revenue- Americas: $37.27 billion versus the two-analyst average estimate of $37.52 billion. The reported number represents a year-over-year change of -1.4%.
Revenue- Wearables, Home and Accessories: $7.91 billion versus $8.04 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -9.6% change.
Revenue- iPhone: $45.96 billion versus the six-analyst average estimate of $46.25 billion. The reported number represents a year-over-year change of -10.5%.
Net Sales- Services: $23.87 billion compared to the $23.30 billion average estimate based on six analysts. The reported number represents a change of +14.2% year over year.
Revenue- Mac: $7.45 billion compared to the $6.64 billion average estimate based on six analysts. The reported number represents a change of +4% year over year.
Net Sales- Products: $66.89 billion versus $66.87 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -9.5% change.
Revenue- iPad: $5.56 billion versus the six-analyst average estimate of $5.95 billion. The reported number represents a year-over-year change of -16.7%.
Gross margin- Services: $17.81 billion versus $16.80 billion estimated by five analysts on average.
Shares of Apple have returned -0.2% over the past month versus the Zacks S&P 500 composite's -4.2% 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.
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Apple (AAPL) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Apple (AAPL - Free Report) reported $90.75 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.3%. EPS of $1.53 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of +0.85% over the Zacks Consensus Estimate of $89.99 billion. With the consensus EPS estimate being $1.51, the EPS surprise was +1.32%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $16.37 billion versus $16.59 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.1% change.
- Geographic Revenue- Europe: $24.12 billion compared to the $22.35 billion average estimate based on two analysts. The reported number represents a change of +0.7% year over year.
- Geographic Revenue- Rest of Asia Pacific: $6.72 billion compared to the $7.04 billion average estimate based on two analysts. The reported number represents a change of -17.2% year over year.
- Geographic Revenue- Japan: $6.26 billion compared to the $6.42 billion average estimate based on two analysts. The reported number represents a change of -12.7% year over year.
- Geographic Revenue- Americas: $37.27 billion versus the two-analyst average estimate of $37.52 billion. The reported number represents a year-over-year change of -1.4%.
- Revenue- Wearables, Home and Accessories: $7.91 billion versus $8.04 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -9.6% change.
- Revenue- iPhone: $45.96 billion versus the six-analyst average estimate of $46.25 billion. The reported number represents a year-over-year change of -10.5%.
- Net Sales- Services: $23.87 billion compared to the $23.30 billion average estimate based on six analysts. The reported number represents a change of +14.2% year over year.
- Revenue- Mac: $7.45 billion compared to the $6.64 billion average estimate based on six analysts. The reported number represents a change of +4% year over year.
- Net Sales- Products: $66.89 billion versus $66.87 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -9.5% change.
- Revenue- iPad: $5.56 billion versus the six-analyst average estimate of $5.95 billion. The reported number represents a year-over-year change of -16.7%.
- Gross margin- Services: $17.81 billion versus $16.80 billion estimated by five analysts on average.
View all Key Company Metrics for Apple here>>>Shares of Apple have returned -0.2% over the past month versus the Zacks S&P 500 composite's -4.2% 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.