HALISTER: Apple FY3Q Rev. View Trails Lowest Est.; Boosts Div., Buyback

Apple FY3Q Rev. View Trails Lowest Est.; Boosts Div., Buyback

(Bloomberg) -- Apple sees FY3Q rev. $41b-$43b vs est. $47.35b, lowest est. $43.95b.
  • Sees 3Q gross margin 37.5%-38.0% vs est. 39.2%
  • Expands capital return program, will spend $250b cash by end of March 2018
    • Boosts div to 57c/shr from 52c, est. 57c
    • Boosts share-buyback program by $35b to $175b
  • 2Q EPS $1.90 vs est. $2.00
  • 2Q rev. $50.6b vs est. $52.0b
  • 2Q gross margin 39.4% vs est. 39.5%
  • 2Q units:
    • IPhone sales 51.2m vs est. 50.7m (6 ests.)
    • IPhone ASP $641.83 vs est. $651
    • IPad 10.3m vs est. 9.4m (6 ests.)
    • IPad ASP $430.39 vs est. $440
    • Mac sales 4.03m vs est. 4.6m (6 ests.)
  • 2Q services rev. $5.99b vs 2Q15 $5.0b
  • Plans to continue to access debt markets for funding
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Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AAPL US (Apple Inc)

People
Luca Maestri (Apple Inc)

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