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$EA said that FY16 non-GAAP revenue was $4.57Bil, an all-time record. The company's operating margin was 28.5% and GM was 71.4%. Earnings of over $1Bil were also a record. The company delivered these results despite significant FX headwinds which impacted topline by over $300MM. Digital revenue was 55% of the business, up from 52% last year.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."