Quarterly results beyond expectations for Applewhich has announced profits higher than the achievement and a growing growth of the most solid turnover than expected, thanks to the resumption of iPhone sales in China and the impact for now limited of the duties imposed by President Trump.
The numbers of the third quarter
Apple closed its third tax quarter, which ended on June 28, with profits per share of 1.57 dollars per share, higher than the EPS estimate of the $ 1.43 market.
The turnover increased by 9.6% to 94 billion dollars, exceeding the expectations of analysts, who estimated on average a turnover of 89.3 billion dollars. In China, a Core market for the Big from Cupertino, there was a turnover of $ 15.4 billion, an increase of 4.4% compared to the previous year, in line with the expectations of the market that estimated a turnover of $ 15.2 billion.
By analyzing the sales trend per single product, the iPhones generated $ 44.6 billion in turnover in the quarter, exceeding estimates of 40.1 billion dollars, thanks to the resumption of sales in China and the push received by the new low -end model 16E. The iPad generated a turnover of 6.58 billion dollars, down 8.1% compared to the previous year, but in line with the Wall Street estimates indicating 7.1 billion dollars. The wearable segment, IoT and accessories, which includes AirPods, smartwatch, TV decoders, vision pro headphones and homepod speakers, has seen sales decreased by 8.6% to 7.4 billion dollars, slightly below the expected $ 7.8 billion.
The services are confirmed by another strength for the apple house, having collected a turnover of 27.4 billion dollars, growing by 13% and higher than the consensus of 26.8 billion dollars.
The impact content of the duties
Apple had provided that the duties would have a negative impact of 900 million dollars in the quarter, but so far they have cost 800 million dollars and it is estimated that another 1.1 billion dollars will cost in the current period.
In view of the impact of the duties on operating costs and, in cascade, on the list prices of its products, the sales accelerated in the quarter, to anticipate the price increases, but the advantage in terms of sales – explained the Ad Tim Cook – represented only 1% on an increase of almost 10% of the total turnover.
The forecasts on the current quarter
Apple has provided for an increase in turnover for the fourth quarter between 5% and 9%, that is, in a percentage between “between half and the high single figure”. An estimate that widely exceeds analysts’ forecasts, which indicated an increase in turnover of 3%. “We have witnessed an acceleration of growth all over the world in the vast majority of the markets that we monitor, including the large China and many emerging markets,” explained the CEO Tim Cook.
Apple running in the evening session
Apple shares jumped by about 2% yesterday evening, after raising the veil on the accounts. The title this year has not performed very well, recording so far a drop of 17% and giving way to the AI giants such as Nvidia and Microsoft, both running to win the podium in terms of capitalization.
