New CEO John Ternus delivers an Apple earnings beat — but soft China and iPad sales
Source: Business Insider ·
Apple's revenue for its fiscal Q4 was $114.5 billion, surpassing Wall Street's estimates of $113.46 billion. EPS came in at $2.10, topping estimates.
From the source
John Ternus gave his first earnings report as Apple CEO on Monday.Kyle Grillot/Bloomberg via Getty ImagesApple's first earnings report under John Ternus is here.Apple faces skyrocketing memory costs, component shortages, and a lineup that is more expensive after it boosted prices.The company beat on the top and bottom line, but missed on China and iPad sales.Step on up to the earnings plate, John Ternus. The Apple executive with buzz for being a "product guy" oversaw his first earnings report as CEO on Monday.Apple's revenue for the third quarter — its fiscal fourth quarter — was $114.5 billion, surpassing Wall Street's estimates of $113.46 billion. Earnings per share came in at $2.10, topping analysts' estimates of $2.Spoiler alert: the company continues to sell a ton of iPhones. Revenue for the segment was $57.58 billion, compared to analysts' estimates of $56.48 billion. The company's highly watched gross margin was 47.9%.China revenue of $17.54 billion missed analysts' estimates…
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