Apple stock falls after missing Q4 earnings estimates

Yahoo Finance’s Jared Blikre provides the key numbers from Apple’s Q4 earnings report.

Video Transcript

SEANA SMITH: Some breaking news. Apple earnings are out. Let’s get over to Jared Blikre. Jared.

JARED BLIKRE: That’s right. Apple stock is down– wow– 4%, almost 5%, as you can see on your screen. And it was a miss on the top line, revenue coming in at $83.36 billion. That’s up 29% year over year, but short of the Wall Street estimate of $84.69 billion. Now breaking it down by segment, products revenue, $65.08 billion– that’s about $3 billion light off of estimates, so 30% up year over year. iPhone revenue also light, $38.87 billion. The Street was expecting $41.6 billion.

Here’s a spot where they did manage to beat. iPad revenue, $8.25 billion. The estimate was for lower at $7.16 billion. Mac revenue was also a slight miss at $9.18 billion. Finally, services revenue, $18.28 billion. That was a win. That was a beat. So the estimate was a little bit lower, $17 and 1/2 billion. Finally, greater China revenue, $14.56 billion, and that is up 83% year over year.

Oh, and finally, the bottom line number came in exactly in line. EPS was $1.24 for the quarter. A couple more numbers here, gross margin, that was up 42% year over year, $35.17 billion. And then finally, cash and cash equivalents, $34.94 billion. That end of the quarter up 2.6% sequentially. But I think the Street focusing on miss on the top line number, guys.

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