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Apple Delivers Big Q3 Earnings Beat, Stock Hits All-Time High

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Apple Delivers Big Q3 Earnings Beat, Stock Hits All-Time High
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Apple Inc. (NASDAQ: AAPL) delivered a big third-quarter earnings beat after Tuesday's close, its last report before its newest iPhone is projected to be released.

Apple reported Q3 earnings of $1.67 per share, beating estimates by 10 cents. Sales came in at $45.4 billion, topping estimates by $510 million.

Per usual, it was all eyes on iPhone sales, which came in at 41 million units sold. Apple sold 11.42 million iPad units and 4.29 million Mac units.

The company sees Q4 sales of $49 billion-52 billion, against a consensus estimate of $49.21 billion.

"With revenue up 7 percent year-over-year, we're happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue," said CEO Tim Cook. "We hosted an incredibly successful Worldwide Developers Conference in June, and we're very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall."

At time of publication, Apple shares were up 4.8 percent at $157.21 in the after-hours session. The stock's all-time high is $156.65.

Posted-In: AppleEarnings News Guidance Top Stories After-Hours Center Movers Best of Benzinga

 

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