Month: August 2022

Apple (AAPL) released its Q3 earnings on Thursday, beating analysts’ expectations with record revenue of $83 billion despite fears of rising inflation.

Here are the most important numbers from the report, and how they compare to Wall Street’s expectations, as compiled by Bloomberg.

  • Revenue: $83 billion versus $82.7 billion expected

  • Earnings per share: $1.20 versus $1.16 expected

  • iPhone revenue: $40.7 billion versus $38.9 billion expected

  • iPad revenue: $7.22 billion versus $6.9 billion expected

  • Mac revenue: $7.4 billion versus $8.4 billion expected

  • Wearables revenue: $8.1 billion versus $8.8 billion expected

  • Services revenue: $19.6 billion billion versus $19.7 billion expected

Apple’s stock was up more than 3% after the report.

“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and

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Amazon shares climbed more than 13% in extended trading on Thursday after the company reported better-than-expected second-quarter revenue and gave an optimistic outlook.

Here’s how the company did:

  • EPS: Loss of 20 cents
  • Revenue: $121.23 billion vs. $119.09 billion expected, according to Refinitiv

Here’s how other key Amazon segments did during the quarter:

  • Amazon Web Services: $19.7 billion vs. $19.56 billion expected, according to StreetAccount
  • Advertising: $8.76 billion vs. $8.65 billion expected, according to StreetAccount

Revenue growth of 7% in the second quarter topped estimates, bucking the trend among its Big Tech peers, which all reported disappointing results prior Thursday. Apple, along with Amazon, beat expectations.

Amazon said it expects to post third-quarter revenue between $125 billion and $130 billion, representing growth of 13% to 17%. Analysts were expecting sales of $126.4 billion, according to Refinitiv.

Amazon has been contending with higher costs, as a pandemic-driven expansion left the company

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Ongoing supply chain pressures amid strong consumer demand make for a scary combination as Hershey warned there will be a Halloween and holiday candy shortage.

“Seasonal consumer engagement is expected to remain high, and we expect high single digit sales growth for both our Halloween and Holiday seasons,” Hershey Chairman and CEO Michele Buck said during the earnings call. “Despite this strong growth, we will not be able to fully meet consumer demand due to capacity constraints.”

Trick-or-treaters can partially blame a scarcity of raw ingredients and workers for the lack of Reese’s pumpkins this year. The CEO also mentioned that the Russia-Ukraine war and geopolitical tensions strained supply chains when explaining that the company had to make the difficult decision to prioritize producing its everyday candy offerings over seasonal confections.

Kids dressed in costumes wait for candy while trick or treating during Halloween in Port Washington, New York, October 31, 2014. REUTERS/Shannon Stapleton (UNITED STATES - Tags: SOCIETY)

Kids dressed in costumes wait for candy while trick or treating during Halloween in Port Washington, New York, October

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