Apple reports Q3 results

Apple reported their Q3 financial results after the closing bell on Thursday, missing Wall Street analyst expectations.

The company reported revenue of $83.36 billion on the third-quarter (up by 29% year-over-year), below analyst forecast of $84.85 billion. Earnings per share at $1.24 a share, in line with the forecast.

• iPhone revenue at $38.87 billion vs. $41.51 billion forecasted
• Mac revenue at $9.18 billion vs. $9.23 billion forecasted
• iPad revenue at $8.25 billion vs. $7.23 billion forecasted
• Other products revenue at $8.79 billion vs. $9.33 forecasted
• Services revenue at $18.28 billion vs. $17.54 forecasted

”This year we launched our most powerful products ever, from M1-powered Macs to an iPhone 13 lineup that is setting a new standard for performance and empowering our customers to create and connect in new ways,” said Tim Cook, Apple’s CEO.

”We are infusing our values into everything we make — moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever advancing our mission to build a more equitable future.”

Apple chart (1Y)

Shares of Apple fell by around 3% in the after-hours trading following the latest results. The share price is up by 37.20% in the past year at $152.57 a share.

Apple is the largest company in the world with a total market cap of $2.522 trillion.

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Sources: Apple, Refinitiv, TradingView, CompaniesMarketCap