Apple EPS $1.40 vs $1.34 expected. Rev $85.75 billion versus the $84.44 billion expected

August 1, 2024
-FCHFX

August 01, 2024 at 09:36PM
Apple earnings:

EPS $1.40 versus $1.34 expected: BEAT

Revenues $85.78 billion versus 84.44B expected: BEAT

Other details:

China Revenue: actual $14.73 billion (-3% on a constant currency basis) Expected to be $15.26 billion, down 3.1% from $15.7 billion last year. MISS

iPhone Actual $39.3 billion. Sales are expected to be $38.9 billion, down 1.8% year over year from $39.6 billion.BEAT

Services Revenue: Actual $24.21 billion. Anticipated to reach $23.9 billion, up from $21.2 billion last year. BEAT

iPad Sales: Actual $7.16 billion. Expected to be $6.6 billion, up from $5.7 billion last year.: BEAT

Mac Revenue: Actual $7.01 billion Expected $7.02 billion to grow modestly compared to last year’s decline of 7.3%. MET

Wearables: Actual $8.10 billion. Expected $7.79 billion . BEAT

Gross margins 46.3% versus 46.1% expected. BEAT

Cash pile $153 billion down from $162.3 billion last quarter.

Most of the breakdown BEAT expectations, but after Amazon missed on revenues, Intel earnings were horrible, and the declines seen in equities today, the mood is not great.

Shares are trading above and below unchanged at $218.36

With 6 of the Mag 7 reporting now Tesla misses on EPS, Amazon missed on Revenues. Nvidia is not scheduled for release until August 28.

This article was written by Greg Michalowski at www.forexlive.com.

Apple EPS $1.40 vs $1.34 expected. Rev $85.75 billion versus the $84.44 billion expected

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