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$EA 1Q16 Call: Non-GAAP net revenue was $693MM, $53MM or more than 8% above guidance. Quarter’s revenue was 11% lower than 1Q15. Non-GAAP digital net revenue increased 10% YoverY to $532MM, 77% of 1Q16 revenue. Trailing 12 month digital net revenue was up 20% to $2.28Bil. Extra content and premium contributed $255MM, up 21% over prior year.
Apple ($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%."