Wednesday, September 29

Apple crushes earnings estimates despite global supply chain shortages

Apple on Tuesday reported fiscal third-quarter financials that easily surpassed Wall Street expectations.

The company reported $81.32 billion in revenue and adjusted earnings of $1.30 for the June quarter.

The iPhone giant’s report comes amid a global supply chain shortage, one that the company has said would not impact its iPhone production. However, CEO Tim Cook said on a Q2 earnings call that a worldwide chip crisis could impact iPad and MacBook production.

Here’s a look at the key numbers. Analyst estimates are based on Yahoo Finance data.

Here are the key numbers to watch from Apple’s Q3 earnings:

  • Q3 2021 revenue: $81.32 billion. Analysts were expecting $73.3 billion.
  • Q3 2021 earnings per share (EPS): $1.30, versus Wall Street estimates of $1.01.
  • iPhone revenue: $39.57 billion. Analysts were expecting $36.5 billion.
  • Services revenue: $17.48 billion. Analysts were expected $16.3 billion.

This story is developing. Check back for updates.