Apple's AAPL long-awaited fiscal Q1 2019 earnings results have hit the tape in Tuesday's after-hours trading, with both earnings and revenues surpassing estimates: $4.18 per share topped expectations by a penny on $84.3 billion, which was anticipated to bring in $84.07 billion, on the top line. But these figures are "beats" only because Apple gave a rare warning 3 1/2 weeks ago that Q1 numbers were going to be lighter than originally projected, on weakness in Chinese market growth.
iPhone sales of 51.98 billion was indeed lower than the projected 52.67 billion, though the company's Services segment outperformed marginally to $10.9 billion in the quarter. Nevertheless, this represents the first quarterly revenue decline in a decade; the company last outright missed earnings estimates back in Q1 of 2016, three years ago.
Advanced Micro Devices, Inc. AMD also reported Q4 earnings late Tuesday, missing slightly on both top and bottom lines: 8 cents per share was off by a penny, but still +10% year over year; revenues of $1.42 billion came in just under the $1.44 billion, which were down a touch year over year. This marks the first bottom-line miss since Q3 2015. However, shares in late trading are up on the news, as the company's stock had sold off both in regular market activity today and following yesterday's warning from Nvidia NVDA.
eBay EBAY topped estimates for both sales and earnings this afternoon, posting 71 cents per share on $2.88 billion in revenues in its Q4 report after the closing bell, compared with the 68 cents per share on $2.86 billion in the Zacks consensus. Shares initially traded up more than 2.5% on the news, as the company alos announced $7 billion being returned to shareholders in dividends and buybacks, although Gross Merchandise Volume (GMV) at the company came in at 24.6%, down from the 25.4% expected.
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