Apple Inc (NASDAQ:AAPL, XETRA:APC) reported fiscal third-quarter revenue and profit that topped Wall Street expectations, driven by stronger-than-expected iPhone and Mac sales, though shares fell more than 4% in after-hours trading.
The company posted revenue of $109.42 billion, up 16.4% from a year earlier and above analyst estimates of $108.85 billion. Earnings per share came in at $2.02, beating estimates of $1.89 and up 28.7% from the same period last year.
iPhone revenue rose 21.7% to $54.25 billion, ahead of the $53.6 billion analysts had forecast. Mac sales jumped 28.7% to $10.35 billion, well above estimates of $8.62 billion.
Services revenue, however, came in below expectations at $30.74 billion, up 12.1% year-over-year but short of the $31.36 billion analysts had projected. iPad revenue also missed estimates, falling 5.9% to $6.19 billion.
In Greater China, revenue rose 22.4% to $18.82 billion, missing analyst estimates of $19.58 billion.
By geography, the Americas generated $45.78 billion in revenue, up 11.1% and ahead of estimates of $45.42 billion. Europe revenue climbed 22.4% to $29.4 billion, while Japan revenue rose 13.4% to $6.55 billion. Revenue from the rest of Asia Pacific increased 15.6% to $8.87 billion.
Total products revenue, which includes iPhone, Mac, iPad and wearables, rose 18.1% to $78.68 billion, above estimates of $77.25 billion. Wearables, Home and Accessories revenue increased 6.5% to $7.88 billion, roughly in line with estimates.
On profitability, gross margin rose 25.3% to $54.77 billion. Operating expenses climbed 22.9% to $19.08 billion, slightly above estimates of $18.96 billion. Operating income increased 26.6% to $35.7 billion, topping estimates of $33.34 billion, while net income rose 27.1% to $29.79 billion, ahead of the $27.67 billion analysts had expected.
