Afternoon-APPLE watching here....Apple (NASDAQ:AAPL): FQ4 EPS of $1.96 beats by $0.08.
Revenue of $51.5B (+22.3% Y/Y) beats by $380M.
48M iPhones (near expectations), 9.9M iPads (slightly below expectations), 5.7M Macs (near expectations).
Expects FQ1 revenue of $75.5B-$77.5B vs. a $77.1B consensus.
Apple reports 39.9% gross margin, $670 iPhone ASP; dividend declared
Lifting Apple's (NASDAQ:AAPL) FQ4 EPS: Gross margin was 39.9%, up 190 bps Y/Y and above guidance of 38.5%-39.5%. FQ1 GM guidance is at 39%-40%. Also giving EPS a lift: Common stock repurchases totaled $13.3B.
Product line performance: iPhone revenue (63% of total revenue) +36% Y/Y to $32.3B; units +22% to 48M. iPad revenue -20% to $4.3B; units -20% to 9.9M. Mac revenue +4% to $6.9B; units +3% to 5.7M. Services (iTunes/App Store, AppleCare, Apple Pay, Apple Music) +10% to $5.1B. Other products (iPod, Beats, Apple Watch, peripherals) +61% to $3B.
Regional performance: Americas revenue +10% Y/Y to $21.8B. Greater China +99% to $12.5B (iPhone 6 demand). Europe +2% to $10.6B. Japan +9% to $3.9B. Rest of Asia-Pac +27% to $2.7B. International sales were 62% of revenue.
ASPs: iPhone ASP rose to $670 from $660 in FQ3 and $659 in FQ2 (also boosted EPS). iPad ASP rose to $433 from $419 in FQ3 and $430 in FQ2. Mac ASP was $1,205 vs. $1,257 in FQ3 and $1,231 in FQ2.
Financials: GAAP R&D spend rose 32% Y/Y to $2.2B, and SG&A spend 17% to $3.7B. Apple ended FQ4 with nearly $206B in cash/investments (much of it offshore), and $56B in debt.
Apple has declared its regular quarterly dividend of $0.52/share (1.8% yield). The next dividend is payable on Nov. 12 to shareholders on record as of Nov. 9.
AAPL +1.8% after hours to $116.60. Earnings call at 5PM ET (webcast).
Pray for A Pain Free Day!
