Apple will report its second fiscal quarterly earnings results after the market closes on Tuesday.
Apple's sales declined slightly on an annual basis during the first three months of 2017, reviving fears that Apple's business is continuing to face growth challenges.
Last year Apple reported three straight quarters of overall sales shrinkage before it returned to growth during the holiday quarter.
On Tuesday, Apple reported earnings per share that beat Wall Street expectations, but its revenue was short, and down on a year-over-year basis.
Apple sold fewer iPads and Macs than it did a year ago, and iPhone sales were flat.
Apple also announced on Tuesday that it planned to spend an additional $50 billion to return capital to shareholders in the form of buybacks and dividends.
Here's are the key numbers that Apple reported on Tuesday:
- Q2 EPS (GAAP): $2.10, down 1% year-over-year, vs expectations of $2.02
- Q2 revenue: $52.9 billion, down 0.4% year-over-year, vs expectations of $53.1 billion
- Gross margin: 38.9%, down 0.1% year-over-year, vs expectations of 38.7%
- iPhone unit sales: 50.76 million, flat year-over-year, vs expectations of 51.4 million
- iPhone Average Selling Price: $655, up 2% year-over-year, vs expectations of $666
- iPad unit sales: 8.9 million, down 12% year-over-year
- Mac unit sales: 4.1 million, down .01% year-over-year
Apple provided a forecast for next quarter:
- 3Q quarter revenue guidance: Between $43.5 billion and $45.5 billion
- 3Q margin guidance: Between 37.5 percent and 38.5 percent
Here are the important tables from Apple:
And here are the charts:
We'll be covering Apple's results and its earnings conference call live, so click here to update this post with the latest info.
Apple will report its second fiscal quarterly earnings results after the market closes on Tuesday. Read Full Story
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