- Adjusted Q3 EPS of $2.14 beat analyst expectations by 8%. There goes my timed R&D theory.
- Revenue delivered a strong beat at $23.8B which beat analyst expectations by $780M and was up 7.5% year over year.
- The reported income statement has weakened my opinion on R&D timing, but produces a new challenge.
- The results were definitely not anticipated in my original piece.