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Apple pleasantly surprised investors and traders today by announcing better than anticipated financial results for its fiscal 2013 third quarter, which ended in June. Apple posted quarterly revenue of $35.3...
07-23-2013, 03:02 PM #1
Apple Earnings Impress with New iPhone Sales Record
Apple pleasantly surprised investors and traders today by announcing better than anticipated financial results for its fiscal 2013 third quarter, which ended in June.
Apple posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. Analysts had forecast quarterly revenue of $35 billion for Apple with an earnings-per-share of $7.30.
International sales accounted for 57 percent of the quarter’s revenue.
The real story for Q3 was the record number of iPhones the company sold in the June quarter. Apple sold 31.2 million iPhones, which the company confirms is "a record for the June quarter, compared to 26 million in the year-ago quarter."
Apple sold 14.6 million iPads during the quarter (lower than expected, however) with some 3.8 million Macs sold along the way,
“We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Tim Cook, Apple’s CEO. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”
As far as guidance for the fiscal 2013 fourth quarter, here's what Apple projects:
- Revenue between $34 billion and $37 billion
- Gross margin between 36 percent and 37 percent
- Operating expenses between $3.9 billion and $3.95 billion
- Other income/(expense) of $200 million
- Tax rate of 26.5%
07-23-2013, 06:57 PM #2
That's pretty impressive.
07-24-2013, 06:45 AM #3
Sure, iPhone sales are up .. but overall Apple profit is down for the second straight quarter.. down by about 22 percent in fact, that's not insignificant .. the shares are diluted and investors are getting nervous.. Apple is starting to lose it's cool factor.
I'm sticking around at least to see if the 5s impresses.. Apple hasn't been innovating much at all since the passing of Steve..
07-24-2013, 07:27 AM #4
Investors that are "gambling" on cool factor should be sent to a room and have their hands slammed in the door. Stock prices are down because there are too many people gambling rather than investing.