Apple Q3 earnings top estimates on iPhone strength, services lag
Apple reported fiscal Q3 EPS of $2.02, beating the $1.89 consensus, with revenue of $109.42 billion ahead of the $108.85 billion forecast. Services revenue fell short of expectations.
AAPL
Apple's fiscal third-quarter results surpassed Wall Street projections for both earnings and revenue. Adjusted earnings per share came in at $2.02 versus the $1.89 expected, while total revenue reached $109.42 billion, exceeding the $108.85 billion estimate.
Product sales performed robustly, posting $78.68 billion against a $77.25 billion consensus. iPhone revenue specifically hit $54.25 billion, topping the anticipated $53.60 billion.
The one soft spot was services, which generated $30.74 billion, slightly below the $31.36 billion forecast.
Source: First Squawk