This is Mac OSKinn.

A deep dive in the apple's third quarter earnings. It's Wednesday the 27th of July 2016.

I'm Ken Ray and this is news from Maco Esken.

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It was not like the grand slams of years past but Apple did get on base during the third quarter fiscal year 2016 earnings.

I'd say they got at least a second base, maybe even third.

The company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion or $1.42 per diluted

share. Those numbers beat the streets expectations of $42.18 billion or earnings per share of a buck 40.

While they'd be an expectation, it comes as no surprise that all of those numbers are down

from last year.

For the third quarter of fiscal year 2015, Apple reported revenue of 49.6 billion and net income

of 10.7 billion or a buck 85 per share.

Gross margin was also down.

It came in at 38% last quarter versus 39.7% reported in the year ago quarter.

But did I mention beating expectations?

Apple also came in at the high end of its own guidance, prompting Apple CEO Tim Cook to say in the earnings press release,

we are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the

quarter. We had a very successful launch of iPhone SE and were thrilled by

...