HALISTER: Apple FY3Q Rev. View, IPhone Units Miss; Boosts Return Program

Apple FY3Q Rev. View, IPhone Units Miss; Boosts Return Program

(Bloomberg) -- Apple sees FY3Q rev. $43.5b-$45.5b vs est. $45.7b and sees FY3Q gross margin 37.5%-38.5% vs est. 38.3%.
  • 2Q iPhone units sold 50.8m vs est. 51.4m (average of 5 ests. compiled by Bloomberg News)
    • 2Q iPhone ASP ~$655 vs est. ~$666 (5 ests.)
  • 2Q EPS $2.10 vs est. $2.02
  • 2Q rev. $52.9b vs est. $53.1b
  • 2Q services rev. $7.04b, up 18% y/y
  • 2Q other products rev. $2.87b, up 31% y/y
  • 2Q-end cash position $256.8b vs $246.1b last quarter
  • Authorizes $50b increase to capital return program and
extends program timeframe by four quarters; under expanded program, AAPL plans to spend a cumulative total of $300b by the end of March 2019 ** Boosts share buyback program to $210b from $175b ** Declares 63c/share div, up 10.5%
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Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AAPL US (Apple Inc)

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