Apple Gets Kicked Out of the $5 Trillion Club After Reporting Earnings. Are Fears Over Surging Memory Costs Overblown?
Apple's Q3 was impressive, but margins look set to come down.
Overview
On the surface, Apple (NASDAQ: AAPL) delivered a strong third-quarter earnings report with revenue jumping 16% to $109.4 billion, edging out the consensus at $109 billion.
IPhone sales jumped 22% to $54.3 billion, and Mac was a bright spot as well, up 29%, and Apple reported double-digit revenue growth in all five of its regions.
Details
Gross margin reached 50.1%, which included a benefit of two percentage points from tariff refunds. On the bottom line, the company reported earnings per share of $2.02, which included an $0.11 benefit from tariff refunds, compared to analyst estimates of $1.89.
Source
Originally published at www.fool.com.
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