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Apple’s June quarter beat boosted by tariff refunds, guidance match questioned
Tariff refunds added about 2 margin points and 11 cents to Apple’s EPS, and the article argues the company was only matching the midpoint after removing one time items.
Apple’s June quarter earnings beat was described as being propped up by tariff refunds, which added roughly 2 percentage points to gross margin and lifted EPS by 11 cents, according to analysis published by Yahoo Finance.
The piece says that after excluding those one time effects, Apple’s results amount to meeting the midpoint of its own guidance rather than a stronger outcome, with the stock trading at about 35 times earnings.
Apple reported its ninth consecutive EPS beat, with EPS of $2.02 on $109.42 billion in revenue, up 16.4% year over year, and the article highlights iPhone revenue growth of 22% plus growth of 29% for Mac.
It also points to Apple’s capital return plan, citing a newly authorized $100 billion buyback, and notes Services revenue of $30.7 billion last quarter, alongside concerns that the setup into the October earnings report looks weaker.