Apple faced a crucial test on Wall Street on Tuesday, as it reported financial results for the quarter ending in March. Reports of weak phone component orders and the fading benefits of tax reform cast a shadow over the company's future.
But Apple has often faced low expectations and managed to surpass them — in fact, it has a pattern of doing just that, and this quarter was no exception.
The company has now beaten earnings per share estimates 20 out of the past 21 quarters, according to CNBC's analysis of StreetAccount numbers. FactSet figures show that it has beaten estimates every quarter since March 2014, except for March 2016.
Here's Apple's history, according to FactSet: