Apple (AAPL) reported $81.8 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 1.4%. EPS of $1.26 for the same period compares to $1.20 a year ago.
The reported revenue represents a surprise of +0.54% over the Zacks Consensus Estimate of $81.36 billion. With the consensus EPS estimate being $1.19, the EPS surprise was +5.88%.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
Here is how Apple performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Geographic Revenue- Greater China: $15.76 billion compared to the $14.67 billion average estimate based on two analysts. The reported number represents a change of +7.9% year over year.
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Geographic Revenue- Europe: $20.21 billion compared to the $19.21 billion average estimate based on two analysts. The reported number represents a change of +4.8% year over year.
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Geographic Revenue- Rest of Asia Pacific: $5.63 billion versus the two-analyst average estimate of $5.98 billion. The reported number represents a year-over-year change of -8.5%.
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Geographic Revenue- Japan: $4.82 billion compared to the $5.57 billion average estimate based on two analysts. The reported number represents a change of -11.5% year over year.
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Geographic Revenue- Americas: $35.38 billion compared to the $35.27 billion average estimate based on two analysts. The reported number represents a change of -5.6% year over year.
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Revenue- Wearables, Home and Accessories: $8.28 billion versus $8.56 billion estimated by eight analysts on average.
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Revenue- iPhone: $39.67 billion versus the eight-analyst average estimate of $39.96 billion. The reported number represents a year-over-year change of -2.5%.
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Net Sales- Services: $21.21 billion versus the eight-analyst average estimate of $20.85 billion. The reported number represents a year-over-year change of +8.2%.
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Revenue- Mac: $6.84 billion versus the eight-analyst average estimate of $6.41 billion. The reported number represents a year-over-year change of -7.3%.
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Net Sales- Products: $60.58 billion versus $61.18 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -4.4% change.
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Revenue- iPad: $5.79 billion versus the eight-analyst average estimate of $6.24 billion. The reported number represents a year-over-year change of -19.8%.
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Gross margin- Services: $14.97 billion versus $14.81 billion estimated by six analysts on average.
View all Key Company Metrics for Apple here>>>
Shares of Apple have returned +0.7% over the past month versus the Zacks S&P 500 composite’s +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Apple Inc. (AAPL) : Free Stock Analysis Report