For the quarter ended December 2022, Apple (AAPL) reported revenue of $117.15 billion, down 5.5% over the same period last year. EPS came in at $1.88, compared to $2.10 in the year-ago quarter.
The reported revenue represents a surprise of -3.34% over the Zacks Consensus Estimate of $121.21 billion. With the consensus EPS estimate being $1.93, the EPS surprise was -2.59%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
Here is how Apple performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Products: $96.39 billion versus the seven-analyst average estimate of $101.86 billion. The reported number represents a year-over-year change of -7.7%.
Net sales- Services: $20.77 billion compared to the $20.55 billion average estimate based on seven analysts.
Revenue- Mac: $7.74 billion versus $9.71 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -28.7% change.
Revenue- iPhone: $65.78 billion versus $68.52 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -8.2% change.
Revenue-Wearables, Home and Accessories: $13.48 billion versus $15.42 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -8.3% change.
Revenue- iPad: $9.40 billion versus the six-analyst average estimate of $7.67 billion. The reported number represents a year-over-year change of +29.6%.
Gross margin – Services: $14.71 billion versus $14.63 billion estimated by five analysts on average.
Gross margin – Products: $35.62 billion versus the five-analyst average estimate of $37.63 billion.
View all Key Company Metrics for Apple here>>>
Shares of Apple have returned +15.1% over the past month versus the Zacks S&P 500 composite’s +7.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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