Apple blows away Wall Street for Q4 | Media Investment | Business
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Apple crushed Wall Street's expectations for its fourth-quarter earnings.

iphonex 6 nov 2017Quarterly revenue came in at $52.6 billion compared with the $50.7 billion expected by the Street; and adjusted EPS was $2.07 compared with $1.87.

Apple’s iPhone unit sales were a solid 46.7 million against the 46 million expected; and as for Q1 revenue guidance, it’s expecting $84 billion to $87 billion, compared with the $84.9 billion expected.

"You can see from our guidance, we're very bullish," CEO Tim Cook said on a conference call.

He added that the iPhone X, the company’s most expensive gadget ever, coming in at $1,000, is exceeding estimates even as the just-released iPhone 8 became the company’s best-seller.

"The iPhone X orders are very strong for both direct customers and for .... carriers throughout the world," Cook said. "The first sales started in Australia, and I'm told we had several hundred people waiting at the store in Sydney, and I'm getting similar reports from across that region."

Apple has said that it is looking to become more than a vertically integrated hardware company, by doubling the amount of revenues it makes from content. Its goal is to become a $50 billion business by 2021 with the strategy.

To do that, it has reportedly created a budget of $1 billion for original content for the next year to beef up its TV offer. The Wall Street Journal reported in August that the content initiative will managed by Zach Van Amburg and Jamie Erlicht, who have ‘begun meeting with Hollywood agents and holding discussions about shows Apple could acquire’. The two producers joined Apple from Sony in June.

Apple could use the funds to acquire and/or produce up to ten TV shows, sources said, either to be included in its existing offerings, or to be distributed via a new Apple over-the-top (OTT) service.