Apple has just published its financial results for Q3 2019. The company posted revenue of $53.8 billion. Apple CEO Tim Cook said:
“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Tim Cook, Apple’s CEO. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”
Estimates and Expectations for Q3 2019 and the Year-Ago Quarter (Q3 2018)
Apple’s revenue guidance for Q3 2019 fell between $52.5 billion and $54.5 billion, with gross margin estimated to be between 37% and 38%.
Going into today’s earnings call, Yahoo Finance said that analysts, who were not expecting extraordinary financial results from Apple, would be focused on News+ and other revenue generated by services,
But according to Bloomberg’s MODL consensus, iPhone sales are expected to fall 10.3% in Q3, pushed lower by the ongoing trade war between the U.S. and China.
The same consensus, however, also points to an increase in sales of iPads, Macs, wearables like the AirPods and Apple Watch, and services by as much as 14.4%. Don’t forget, Apple recently revamped its iPad and Mac lineups, and released a new version of the seemingly ubiquitous AirPods.
In the year-ago quarter (Q3 2018), Apple earned $53.3 billion in revenue. During that quarter Apple sold 41.3 million iPhones, 11.6 million iPads, and 3.7 million Macs. As announced on Apple’s Q4 2018 earnings call, however, the company no longer reports unit sales for any of its products.