Market Overview

4 Things You Should Know About Apple's Earnings Release


Underpromise and overdeliver? Apple Inc. (NASDAQ: AAPL) jumped 7 percent after-hours after releasing better-than-expected earnings. Apple's revenue came in at $42.4 billion, which was at the high end of the guidance provided.

Related Link: Apple Surprises Street, Posts Top And Bottom Line Beat

Here are four things you should know about Apple's Q3 results:

  • 40.4 million iPhone were sold in the quarter. Apple experienced the best iPhone "switcher" rate it has ever seen
  • Q3 saw the best iPad compare in over 10 quarters, with 7 percnet growth. Over half of iPad purchases were for work-related purposes
  • Apple continues to heavily focus and invest in international markets China and India. The company saw double-digit growth in Russia, Brazil, Turkey, India and Canada.
  • Apple Pay integrated into Safari. Monthly Active User's grew 450 percnt year-over-year with over half of transactions coming from international markets.

As usual, CEO Tim Cook was extremely bullish about the future prospects of the company.

"I am very optimistic about the future, I have seen an install base that has grown incredibly larger, I see a switcher rate that is the highest ever."

As investors anxiously await the iPhone 7, Cook did not mention anything but hinted at a possible fall release.

All of the things that are coming in the fall, make it even more instrumental," said Cook.

Posted-In: Earnings News After-Hours Center


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