Apple reports third-quarter revenue above estimates; Greater China revenue below estimates, shares fall after hours
Apple reported fiscal third-quarter revenue of $109.42 billion, compared with analysts’ estimate of $108.85 billion. Revenue from Greater China was $18.82 billion, below analysts’ expectation of $19.58 billion. Product revenue came in at $78.68 billion, versus the $77.25 billion consensus estimate. iPhone revenue was $54.25 billion, compared with expectations of $53.6 billion; iPad revenue was $6.19 billion, versus an estimate of $6.89 billion; Mac revenue was $10.35 billion, versus $8.62 billion expected; and Wearables, Home and Accessories revenue was $7.88 billion, compared with an estimate of $7.87 billion. Earnings per share were $2.02, above analysts’ estimate of $1.89. Apple shares fell 2.2% in after-hours trading.