- Stephen Lam / Getty
Apple’s Q3 earnings are out!
As always, the most important number is iPhone sales.
Analysts were expecting the company to sell 48.5 million units, but Apple slightly missed those forecasts by selling 48.05 million units.
The stock is up a tiny bit (~1.3%), after the company delivered a beat on the top and bottom line.
The iPhone sales number was particularly important this quarter since analysts have been quietly saying Apple can’t continue to grow its iPhone unit sales numbers – because it’s competing against its own massive scale.
This slight miss may add fire to some of those fears.
Here’s a look at unit sales growth over time, via BI Intelligence:
- BI Intelligence
Apple CEO Tim Cook told The Wall Street Journal that 30% of consumers who bought an iPhone had made the switch from Google’s Android OS (the highest percentage ever).
Here are all the important numbers, lined up:
Revenue: $51.5 billion versus expectations of $51.04 billionEPS: $1.96 versus expectations of $1.88iPhone units: 48.05 versus expectations of 48.5 millioniPad units: 9.88 versus expectations of 10.2 millionMac units: 5.71 million versus expectations of 5.6 millionGross margin: 39.9% versus expectations of 39.3%December quarter revenue: $75.5-$77.5 versus expectations of $77.13 billion