Market Overview

Apple Smashes Q4 Earnings Estimates, iPad Units See Strongest Growth

Apple Smashes Q4 Earnings Estimates, iPad Units See Strongest Growth

Apple Inc. (NASDAQ: AAPL) shares are surging after trouncing fourth-quarter estimates.

The tech giant's market cap is nearing $900 billion after delivering fourth-quarter EPS of $2.07, beating estimates by 20 cents. Sales came in at $52.6 billion, topping estimates by $1.81 billion.

"We're happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services," said CEO Tim Cook. "With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we're looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn't be more excited as we begin to deliver our vision for the future with this stunning device."

Apple issued first-quarter sales guidance of $84-$87 billion, and expects first quarter gross margins of 38-38.5 percent.

Q4 Highlights

  • 46.677 million iPhone units sold, up 3 percent year-over-year
  • 10.326 million iPad units sold, up 11 percent year-over-year
  • 5.386 Mac units sold, up 10 percent year-over-year

Shares of Apple were up over three percent following the release. Click here for the full results.

Related Links:

QQQ Draws Big Bets Ahead Of Apple Earnings

Apple Q4: Record Run Continues Amid Solid Expectations, iPhone X Momentum

Posted-In: iPad iPhoneEarnings News Guidance After-Hours Center Movers Tech Best of Benzinga


Related Articles (AAPL)

View Comments and Join the Discussion!

The Wall Street Reaction To Tesla's Underwhelming Quarter

Starbucks Misses Q4 Sales Estimates, Sells Tazo To Unilever For $384 Million