Apple earnings crush analysts’ expectations: We need to get to Jared flickery monster earnings from Facebook and Apple, Jared.
I got some good news for Apple and Facebook investors. It was a blowout quarter for both. And it looks like Alphabet was just warming everybody up yesterday. Let’s take a look at the numbers.
We got EPS coming in at a dollar forty beating estimates by 40 percent. The estimate was for ninety-nine cents revenue. Just knock it out of the park, up fifty-four percent year over year. That number, eighty-nine point five billion. The estimate was for seventy-seven billion products revenue up sixty-two percent. And here’s how that breaks down. iPhone revenue of forty-eight dollars billion, roughly up sixty-six percent, the first full quarter in which the iPhone 12 was on sale.
Pretty, pretty notable because people worried about that upgrade cycle. Mac revenue, nine billion dollars, nine-point one billion, up 70 percent, iPad revenue up seventy-nine percent. It goes on service revenue, sixteen point nine billion, up to twenty-seven percent year over year estimate was for fifteen point six five billion and then gross margin, thirty-eight point eight billion and then ending the cash, ending the quarter with cash and equivalents of thirty-eight and a half-billion dollars.
That’s up seven percent quarter over quarter. And I do have a quote from the CEO right now. CFO excuse me. We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high, also there authorizing an increase of 90 billion dollars to their existing buyback program. They said the results allowed them to generate an operating cash flow of twenty-four billion dollars and return twenty-three billion dollars to shareholders during the quarter.
And see the stock. Well, it’s a zero, but I can guarantee that we go it’s up three percent in after hours trade.