• Marketing Land
  • Sections
    • CMO
    • Social
    • SEM
    • SEO
    • Analytics
    • Display
    • Retail
    • MarTech
    • Resources
    • More
    • Home
  • Marketing Land
  • CMO
  • Social
  • SEM
  • SEO
  • Analytics
  • Display
  • Retail
  • MarTech
  • Resources
  • More
  • SUBSCRIBE

Marketing Land

Marketing Land
  • CMO
  • Social
  • SEM
  • SEO
  • Analytics
  • Display
  • Retail
  • MarTech
  • Resources
  • More
  • Home
  • Newsletters
  • Home
CMO Zone

Apple earnings: Company beats with $42 billion, iPhone SE above expectations

Device sales were down across the board, but analysts had expected worse.

Greg Sterling on July 26, 2016 at 8:22 pm
  • More
apple-finance-earnings-ss-1920

Earlier this afternoon, Apple reported its fiscal 2016 third quarter results. The company had quarterly revenue of $42.4 billion, which was down 15 percent year-over-year but beat financial analyst consensus estimates. Revenue a year ago was $49.6 billion.

Gross margin was down year over year partly because of the apparent popularity of the lower-cost iPhone SE. There were two highlights: Services revenue grew 19 percent to roughly $6 billion, and iPad sales beat expectations (9.95 million units vs. 9.1 million).

Here are the device numbers:

  • iPhone: 40.4 million units — $24 billion
  • iPad: 9.95 million units — $4.9 billion
  • Mac: 4.2 million units — $5.2 billion
  • Services (App Store, etc.) — $6 billion
  • Other Products (including Apple TV, Apple Watch) — $2.2 billion
Apple Q3 2016

More than 60 percent of Apple’s sales were from international markets. Of particular concern, Greater China sales were off 33 percent vs. a year ago. In addition, last week, IDC asserted that Apple Watch sales saw a significant 55-percent plunge from last year.

Apple provided FY Q4 guidance (between $45.5 billion and $47.5 billion) that was somewhat better than analyst expectations as well. The company reported it had $231.5 billion in cash on hand.

During the earnings call, Apple CEO Tim Cook said that the quarter had seen “millions” of new iPhone buyers. Some of that was attributable to the iPhone SE, demand for which apparently exceeded supply. He also reiterated that Apple is seeing a high “switcher [from Android] rate.”

Cook explained that the China results look bad but the business is healthier than it seems there, given the economic downturn. He added that India is a fast-growing market for the company.

The Apple CEO also said that there were numerous products still in development. One of those projects is presumably Titan, described by The Wall Street Journal as its “secret autonomous, electric-vehicle initiative.”


Opinions expressed in this article are those of the guest author and not necessarily Marketing Land. Staff authors are listed here.



About The Author

Greg Sterling
Greg Sterling is a Contributing Editor to Search Engine Land, a member of the programming team for SMX events and the VP, Market Insights at Uberall.

Related Topics

AppleApple: Apple WatchApple: iPadApple: iPhoneChannel: CMO Zone

We're listening.

Have something to say about this article? Share it with us on Facebook, Twitter or our LinkedIn Group.

Get the daily newsletter digital marketers rely on.
See terms.

ATTEND OUR EVENTS

MarTech 2021: March 16-17

MarTech 2021: Sept. 14-15

MarTech 2020: Watch On-Demand

×

Attend MarTech - Click Here


Learn More About Our MarTech Events

April 13, 2021: SMX Create

May 18-19, 2021: SMX London

June 8-9, 2021: SMX Paris

June 15-16, 2021: SMX Advanced

June 21-22, 2021: SMX Advanced Europe

August 17, 2021: SMX Convert

November 9-10, 2021: SMX Next

December 14, 2021: SMX Code

Available On-Demand: SMX

Available On-Demand: SMX Report

×


Learn More About Our SMX Events

White Papers

  • The Six Principles of Building a Memorable Customer Experience
  • 5 Reasons Agencies Adopt Marketing Automation
  • How to Land Higher-Paying Clients: A 7-Step Framework to Grow Your Agency
  • B2B Marketing Trends Shaping 2021
  • State of Email Marketing 2021 Report
See More Whitepapers

Webinars

  • Crawl Your Way Towards Better Search Results With Dynamic Rendering
  • The AI Revolution Is Coming to Every Stage of Your Buyer’s Journey
  • The Fundamentals of Link Building for E-Commerce & Affiliate Sites in 2021
See More Webinars

Research Reports

  • Local Marketing Solutions for Multi-Location Businesses
  • Enterprise Digital Asset Management Platforms
  • Identity Resolution Platforms
  • Customer Data Platforms
  • B2B Marketing Automation Platforms
  • Call Analytics Platforms
See More Research

h
Receive daily marketing news & analysis.

Channels

  • MarTech
  • CMO
  • Social
  • SEM
  • SEO
  • Mobile
  • Analytics
  • Retail
  • Display

Our Events

  • MarTech
  • SMX

Resources

  • White Papers
  • Research
  • Webinars

About

  • About Us
  • Contact
  • Privacy
  • Marketing Opportunities
  • Staff

Follow Us

  • Facebook
  • Twitter
  • LinkedIn
  • Newsletters
  • RSS
  • Youtube

© 2021 Third Door Media, Inc. All rights reserved.