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Posts tagged with "earnings call"

Apple Announces Q3 2013 Conference Call for July 23

Apple’s third quarter earnings report and conference call will take place on July 23rd, 2013, according to an Investor Relations update on Apple’s website first noted by 9to5mac. Apple will provide a live audio webcast of the event.

Apple plans to conduct a conference call to discuss financial results of its third fiscal quarter on Tuesday, July 23, 2013 at 2:00 p.m. PT / 5:00 p.m. ET.

In the second quarter (which ended on March 30, 2013), Apple posted revenue of $43.6 billion. The company sold 19.5 million iPads, 37.4 million iPhones, and  ”just under” 4 million Macs, earning a quarterly net profit of $9.5 billion. The company ended the quarter with a cash balance of $145 billion.

In April, Apple posted its guidance for the third quarter, with revenue set between $33.5 billion and $35.5 billion and operating expenses between $3.85 billion and $3.95 billion. During the quarter, Apple hit the milestone of 50 billion apps downloaded from the App Store, introduced a new low-end iPod touch, and held its annual Developers Conference in San Franisco, where it released an updated line of MacBook Airs and announced new versions of iOS and OS X coming this Fall. Apple also previewed the new Mac Pro, a completely redesigned new machine coming later this year.

In the year-ago quarter, Apple posted revenue of $35 billion, with 17 million iPads, 26 million iPhones and 4 million Macs sold. Last year, Apple held its Q3 2012 earnings call on July 24, and released OS X Mountain Lion on July 25. Apple’s Q3 2013 call will provide insight into sales of the iPhone and iPad over the past months, which lacked updates to both lines. On July 23, the iPhone 5 will reach the 305th day of its cycle, and the iPad mini its 263rd.

We will provide live updates from the conference call on our site’s homepage on July 23rd starting at 2 PM PT.

Apple Q4 2012 Results: $36 Billion Revenue, 26.9 Million iPhones, 14 Million iPads, 4.9 Million Macs Sold

Apple has just posted their Q4 2012 financial results for the quarter that ended on September 29, 2012. The company posted revenue of $36 billion ($8.67 per diluted share), with 14 million iPads, 26.9 million iPhones and million 4.9 Macs sold. Apple sold 5.3 million iPods. The company reported quarterly net profit of $8.2 billion. Gross margin was 40.0 percent compared to 40.3 percent in the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue.

In this quarter, Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock.

The dividend is payable on November 15, 2012, to shareholders of record as of the close of business on November 12, 2012.

From the press release:

We’re very proud to end a fantastic fiscal year with record September quarter results,” said Tim Cook, Apple’s CEO. “We’re entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline.

We’re pleased to have generated over $41 billion in net income and over $50 billion in operating cash flow in fiscal 2012,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the first fiscal quarter of 2013, we expect revenue of about $52 billion and diluted earnings per share of about $11.75.

Estimates and Previous Quarters

For Q4 2012, Apple had set its guidance at revenue of about $34 billion and diluted earnings per share of about $7.65.

The Street consensus’ average estimate was earnings of $8.75 per share and revenue of $35.80 billion.

On October 24, 2012, both independent and “pro” analysts polled by Fortune (68 in total) forecasted earnings and revenue higher than Apple’s guidance, as it often happens.

After getting clobbered quarter after quarter for nearly four years by a bunch of bloggers, day traders and other amateur analysts, the professionals seem to be giving their clients more realistic numbers. And having badly misjudged two of the last four quarters, the more bullish independents have, for the most part, started to come back to earth.

In Fortune’s poll, the “pros” averaged earnings per share of $8.82 on sales of $36.02 billion; the independent analysts forecasted earnings of $10.14 on sales of $38.8 billion.

Horace Dediu of Asymco also published his forecast for Apple’s fourth fiscal quarter on September 20, 10 days before the quarter (and fiscal year) ended. As he notes, it’ll be difficult to predict iPhone sales for the quarter as consumers have been probably holding off their purchase due to rumors of a product refresh. Furthermore, the iPhone 5 has only been on sale during the quarter for 8 days: the device went on sale in 9 countries on September 21, and 22 more on September 28. Apple only stated that iPhone 5 sales topped over 5 million units during the opening weekend.

The iPhone is going to be extremely difficult to project. On one hand we have the launch of the i5 which will account for about 10 million units in the quarter, on the other, chances are that sales were very weak prior to the launch as purchases were being deferred even more than during the last quarter.

Horace Dediu’s forecast was the following:

  • iPhone units: 27.8 million (62%)
  • Macs: 5.6 million (15%)
  • iPads: 18.8 million (69%)
  • iPods: 5.6 million (–15%)
  • Music (incl. app) rev. growth: 40%
  • Peripherals rev. growth: 10%
  • Software rev. growth: 15%
  • Total revenues: $39.5 billion (40%)
  • GM: 42%
  • EPS: $9.75 (38%)

A better picture of iPhone 5 sales, as well as those from the iPad mini, iPad 4, and recently-updated Macs, will be offered by Apple’s current holiday quarter – Q1 2013.

In the previous quarter, Q3 2012, Apple posted revenue of $35 billion, with 17 million iPads, 26 million iPhones and 4 million Macs sold. iPhone represented a 28 percent unit growth over the year-ago quarter, while iPad reported a 84 percent unit increase over the year-ago quarter. Apple sold 6.8 million iPods, a 10 percent unit decline from the year-ago quarter. The company posted quarterly net profit of $8.8 billion, or $9.32 per diluted share. International sales accounted for 62 percent of the quarter’s revenue.

In the year-ago-quarter, Q4 2011, Apple posted record-breaking revenue of $28.27 billion, with 11.12 million iPads, 17.07 million iPhones and 4.89 million Macs sold.

Apple will provide a live audio feed of its Q4 2012 conference call at 2:00 PM PT, and we’ll update this story with the conference highlights. You can find the full press release and a graphical visualization of Apple’s Q4 2012 after the break. Read more

Apple Announces Q2 2012 Conference Call For April 24

Last night, Apple updated its Investor Relations webpage to include a placeholder for the company’s next earnings call, scheduled for April 24. As usual with Apple’s conference calls, the event will be provided as an audio webcast for investors and listeners.

Apple plans to conduct a conference call to discuss financial results of its second fiscal quarter on Tuesday, April 24, 2012 at 2:00 p.m. PT.

Ended on March 31, Apple’s second quarter of the fiscal year typically brings in lower sales and volume for the company, although this year’s Q2 may signal a change in this tradition with AAPL soaring to new heights every week, and the new iPad selling very well in a larger number of countries than the iPad 2 last year. In fact, whilst Apple didn’t provide any official numbers for the iPad 2’s release last year, it is safe to assume this year’s debut of the new iPad saw larger sales thanks to a wider rollout on Day One (10 countries on March 16, as opposed to only 1 launch country for the iPad 2), rapid follow-up in more countries a week later (25 countries on March 23) and previously reported initial sales figures (3 million iPads were sold in 4 days, prior to the second worldwide March 23 rollout). Sales from the March 16 and March 23 iPad launches will be included in this year’s Q2 results.

Apple’s previous quarter, Q1 2012, has been the company’s biggest to date. The company posted record-breaking revenue of $46.33 billion, with 15.43 million iPads, 37.04 million iPhones and 5.2 million Macs sold. Apple sold 15.4 million iPods, a 21 percent unit decline from the year-ago quarter. The company posted quarterly net profit of $13.06 billion, or $13.87 per diluted share. iPhone represented a 128 percent unit growth over the year-ago quarter, while iPad reported a 111 percent unit increase over the year-ago quarter. Until Q1 2012, Apple’s most profitable quarter had been Q3 2011 with $28.57 billion revenue.

In Q1 2012, Apple CEO Tim Cook remarked how the company was seeing China as “an extremely important market”, with “staggering demand” for iPhone. Cook also revealed that, in spite of the “bold bet” they took in terms of iPhone supply, Apple was short of iPhone supply throughout the quarter; the situation had improved by the time of the earnings call, but the company was still short in some areas. In the conference call, Cook also referred to iCloud as the company’s “big insight” for the next decade.

For Q2 2012, Apple set its guidance at $32.5 billion revenue and diluted earnings per share of about $8.50. As Apple’s own estimates are generally low, it is no surprise to see analysts projecting bigger sales and revenue, but as noted by Philip Elmer-DeWitt at Fortune, this quarter’s estimates show a great difference between estimates from the “pros” (Wall Street analysts) and the “indies”. With a $6.8 billion gap, Wall Street analysts expect the company to report $35.88 billion revenue, while the indies forecast revenue of $42.68 billion. While more bullish, estimates from the independent analysts tend to be more accurate, with only a few notable exceptions in the past (such as when they failed to predict customers were holding out for an iPhone upgrade in October).

In his own estimates for the upcoming Q2 results, Asymco’s Horace Dediu forecasted the following numbers:

  • iPhone units: 37.3 million (100%)
  • Macs: 4.7 million (25%)
  • iPads: 12.2 million (160%)
  • iPods: 7 million (-22%)
  • Music (incl. app) rev. growth: 40%
  • Peripherals rev. growth: 25%
  • Software rev. growth: 10%
  • Total revenues: $42.7 billion (growth: 73%)
  • GM: 44.7%
  • EPS: $12.0 (88%)

To put these possible numbers in context, here’s a graphical representation of how Apple performed in the past quarters.

Apple’s recently announced quarterly dividend won’t begin until the fourth fiscal quarter of 2012. We will provide live updates from the call on our site’s homepage on April 24 starting at 2 PM PT. For a recap of news and events that may have affected Apple’s results in the quarter, check out our January, February, and March In Review sections.

All The Statistics And Insights That Apple Revealed In Their Earnings Call

A few hours ago Apple released its Q1 2012 financial results and it saw Apple post its biggest quarter ever with revenue of $46.33 billion and see record sales of its Mac, iPhone and iPad product lines. We covered all the results in our Q1 2012 Results article earlier today so be sure to head over there if you haven’t already - it also includes a number of graphs that demonstrates Apple’s performance over the past 12 quarters and it paints a fascinating picture.

However, the earnings call itself is an interesting one hour, with Tim Cook (CEO) and Peter Oppenheimer (CFO) also answering a number of questions from select investors and analysts. In this Q&A section, a number of details are revealed - including additional statistics. We’ve re-listened to the call and have compiled the following post that highlights the more interesting aspects of this Q&A section and it is all below the break.

Further Reading:

MacStories: Apple Q1 2012 Results

MacStories: “Our Next Big Insight”

MacStories: More iPhones Than Babies Born Every Day

Apple’s Q1 FY12 Earnings Press Release

Audio Webcast of the Earnings Call

SeekingAlpha: Transcript of the Earnings Call

ReadWriteWeb: Apple’s Growth Rate Is Simply Incredible… And It’s Accelerating

Macworld: This is Tim: Apple’s CEO in his own words

Read more

Apple’s Q4 2011 Earnings Call: More Details & Interesting Thoughts From Tim Cook

Apple held its quarterly earnings call late yesterday and while the results from the September quarter were slightly below what analysts expected, it was still a great result and within Apple’s projections. We covered the main numbers in our post yesterday and included some graphic visualisations of those numbers (such as the one above), but if you missed that here’s a quick summary:

  • $28.27 billion in revenue (analysts expected $29.45 billion)
  • 17.07 million iPhones were sold (up 21% year-over-year)
  • 11.1 million iPads were sold (up 166% year-over-year)
  • 4.89 million Macs were sold (up 26% year-over-year)

But beyond these numbers there were a lot of interesting insights that CEO Tim Cook and CFO Peter Oppenheimer offered during the Q&A session. We’ve re-listened to the earnings call and included the most interesting snippets of that call in this article - answering questions from various analysts, the two answer questions on everything from iPhone rumors, iPad potential, Siri, China and what next quarter has in store for Apple. Be sure to jump the break to read it all.

Read more

Apple Q4 2011 Results: $28.27 Billion Revenue, 17.07 Million iPhones, 11.12 Million iPads, 4.89 Million Macs Sold

Apple has just posted their Q4 2011 financial results. The company posted record-breaking revenue of $28.27 billion, with 11.12 million iPads, 17.07 million iPhones and 4.89 million Macs sold. The company posted quarterly net profit of $6.62 billion, or $7.05 per diluted share. iPhone represented a 21 percent unit growth over the year-ago quarter; iPod sales are down 27 percent from the year-ago quarter, but Apple reported the best iPad quarter to date with over 11 million units sold and a 166% increase over the year-ago quarter. For the next quarter, Apple set guidance at revenue of about $37 billion and diluted earnings per share of about $9.30.

Estimates and Previous Quarters

Wall Street consensus’ estimate was earnings of $7.28 per share and revenue of $29.45 billion; independent analysts expected earnings per share of $9.07 and $33.47 billion revenue. In Q3 2011, Apple said they expected revenue of about $25 billion and diluted earnings per share of about $5.50 in the fourth fiscal quarter of 2011.

In Q3 2011, the company posted record-breaking revenue of $28.57 billion, with 9.25 million iPads, 20.34 million iPhones and 3.95 million Macs sold.. In the year-ago quarter, Apple posted revenue of $20.34 billion and net quarterly profit of $4.31 billion. In Q4 2010, the company sold 3.89 million Macs, 14.1 million iPhones and 4.19 million iPads, which began selling during the quarter.

Q4 2011 Recap

Apple’s fourth fiscal quarter, which ended on September 25th, saw the release of updated MacBook Air and Mac mini models, OS X Lion on the Mac App Store and, later, on USB drive, as well as a new iMac for the educational market and a new Thunderbolt Display. The company was initially expected to unveil a new iPhone in September, but a media event took place in Cupertino on October 4th, nine days after the quarter ended. iPhone 4S sales numbers will be included in Apple’s Q1 2012, but the company has already announced over four million iPhone 4S units have been sold in the first weekend of availability.

As for the Mac, the MacBook Air is widely believed to have become the crown jewel of Apple’s portable business (which no longer includes the white MacBook, discontinued in July) that, alongside Lion, was expected to boost Mac sales in the September quarter.

On August 24th, Steve Jobs resigned as CEO of Apple, and Tim Cook was elected CEO of the company. Steve Jobs passed away on October 5th.

On October 4th, Apple also announced over 6 million copies of Lion had been downloaded through the Mac App Store since July 20th (when the operating system went on sale), with Mac users approaching 60 million worldwide.

Q4 2011 Earnings Call

Apple will provide a live audio feed of its Q4 2011 conference call at 2:00 PM Pacific, and we’ll update this story with the conference highlights. Full press release is embedded after the break.

Notes from the call

- Tim Cook: Steve Jobs’ spirit will always be the foundation of Apple.

- New record sales for Mac and iPad in the September quarter.

- Mac sales increased strongly in each operating segment.

- iPod touch continues to account for half of all iPods sold.

- iPhone sales double in Asia Pacific year-over-year.

- Ended quarter with about 2.5 million iPads in channel inventory.

- 92% of Fortune 500 testing or deploying iPad.

- 500,000 apps available in the App Store. Expanded the App Store to 123 countries in the September quarter.

- 30 new retail stores opened in the quarter, 21 internationally.

- $3.6 billion revenue from Apple retail stores.

- 77.5 million visitors in Apple retail stores in the quarter.

- Average revenue per store is $10.7 million.

- Apple has $81.6 billion in cash available.

- Tim: We’re confident that we’ll have a large supply for the 4S in holiday quarter and set an all-time record for iPhone this quarter.

- Tim: Progress in China has been amazing: Greater China revenue 2% in FY09; 12% in FY11. Fastest growing major region. $4.5 billion in revenue from China in September quarter.

- Apple placing additional focus on other promising areas: Brazil, Russia, Middle East. There are several of these markets where Apple hasn’t been historically strong.

- Tim: China – the sky’s the limit there.

- Tim: As iPad competitors came to the market, our share went up.

- Oppenheimer: Pervasive iPhone rumors had a definite negative impact on Apple’s business.

- 40 million iPads sold on a cumulative basis.

- Tim on iPhone 4S launch (4 million units) Vs. iPhone 4 launch (1.7 million units) last year: “That’s the mother of all uplifts”.

- Tim: Number of people using Siri already is amazing. We see this as a profound innovation. Over time  many, many people will use Siri in a substantial way.

- Tim: We spend a lot of time and money and resource in coming up with incredible innovations. And we don’t like when someone else takes those.

- Tim: We still see iPhone 3GS and iPhone 4 as incredible products.

- iPad available in 90 countries.

- Tim: We are in the main countries with iPad.

- Tim: Everything we’re doing in the United States, we’re doing in China.

- Tim: Cannibalization of PC market happening in two ways. Some people choose to buy an iPad over a Mac: a materially larger number of people buying an iPad instead of PC.

- Tim: I’m not religious about holding cash or not holding it.

- Tim: We could not be happier with our position in the tablet market. We have some incredible things in the pipeline.

Graphical Visualization

We have compiled a series of graphs and charts to offer a graphical visualization of Apple’s third quarter. Apple’s Q4 2011 data summary is available here.

 

Read more

Apple Announces Q4 2011 Conference Call For October 18

As usual after the end of a fiscal quarter, Apple refreshed its Investor web page and activated the URL that will redirect to its next conference call webcast. For the fourth fiscal quarter, which ended on Saturday, September 24th, Apple has announced that they will announce results on October 18th.

Apple’s conference call webcast discussing Q4 - 2011 financial results will begin at 2:00pm PT/5:00pm ET on Tuesday, October 18, 2011.

Please note that comments made during this call may include forward-looking statements that are subject to risks and uncertainties, and that actual results may differ materially from these forward-looking statements. For more information on the factors that could influence results, please refer to Apple’s SEC filings.

In Q3 2011, Apple posted $28.57 billion of revenue with 20.34 million iPhones, 9.25 million iPads, and 3.95 million Macs sold. The company posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share. Also in Q3, Apple reported an amazing growth in China with revenue of $3.8 billion during the quarter. In the year-ago quarter, Apple posted revenue of $20.34 billion with 3.89 million Macs, 14.1 million iPhones and 4.19 million iPads sold during the quarter.

Initially rumored to be released in September, Apple’s fourth quarter won’t include any iPhone 5-related results – the device is now rumored to be unveiled at a media event on October 4th. The earnings call will provide, however, insight into Apple’s summer release cycle, which saw updates for the popular MacBook Air line, new Mac minis, and the release of OS X Lion in July. If most recent rumors are to be believed, the Q4 earnings call might be a way for Apple to announce day-one sales of the next iPhone, rumored to be hitting the U.S. marked in mid-October.

We will provide live updates from the call on our site’s homepage on October 18 starting at 2 PM PT.

Apple Q3 2011 Results: $28.57 Billion Revenue, 20.34 Million iPhones, 9.25 Million iPads, 3.95 Million Macs Sold

Apple has just posted their Q3 2011 financial results. The company posted record-breaking revenue of $28.57 billion, with 9.25 million iPads, 20.34 million iPhones and 3.95 million Macs sold. Apple reported record quarterly net profit of $7.31 billion, or $7.79 per diluted share. Wall Street consensus’ estimate was earnings of $5.80 per share and revenue of $24.92 billion. The company posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share.

In Q2 2011, the company said they expected revenue of about $23 billion and diluted earnings per share of about $5.03 in the third fiscal quarter of 2011.

From the results, iPhone is growing 142% year over year, and with 9.25 million units sold the iPad saw a 183% increase over the year-ago quarter. Apple sold sold 7.54 million iPods with a 20% unit decline. The third quarter has been the best non-holiday Mac quarter ever, best iPhone quarter ever, best iPad quarter ever. There are now 28.7 million iPads out there, including 14 million units shipped this calendar year.

In Q2 2011, the company posted revenue of $24.67 billion with 4.69 million iPads, 18.65 million iPhones and 4.69 million Macs sold. In the year-ago quarter, Apple posted revenue of $15.7 billion and net quarterly profit of $3.25 billion. The company sold 3.47 million Macs, 8.4 million iPhones and 3.27 million iPads, which began selling during the quarter.

Apple will provide a live audio feed of its Q3 2011 conference call at 2:00 PM Pacific, and we’ll update this story with the conference highlights. Full press release is embedded after the break. Read more

Reminder: Apple’s Q3 Earnings Call Today – 5 PM ET

Later today, starting at 5:00 PM ET (2:00 PM PT) Apple will hold its Q3 2011 earnings call to reveal their financial results, shortly after the market closes. Apple will, as usual be offering an audio-only live stream of the call that will be available here. Meanwhile here at MacStories, we will be following the earnings call with a post covering it live – this will be a post continuously updated with notes from the call.

As for what today’s earnings call will bring, AllThingsD has an article this morning quoting a JP Morgan analyst who believes Apple will exceed expected earnings “by a lot”. It is also helpful to note that for the last 13 quarters, Apple has beaten analysts’ financial expectations – many expect Apple could do it again for this quarter’s results.

Earlier this month some (non-Wall Street) Apple analysts from The Mac Observer’s Finance Board expected (on average) for Apple to have sold around 17.6 million iPhones, 8.3 million iPads, 8.3 iPods and 4.3 million Macs. The same analysts believe Apple could have seen 69% year-over-year growth in Q3 2011.

Be sure to tune in at 5 PM ET for a full breakdown of the Q3 2011 financial results from Apple’s earnings call. For those in other time zones, the earnings call is at:

2:00 PM – San Francisco

6:00 PM – Rio de Janeiro

10:00 PM – London

11:00 PM – Rome

1:00 AM (Wed) – Moscow

5:00 AM (Wed) – Beijing

7:00 AM (Wed) – Sydney

9:00 AM (Wed) – Auckland

For all other time zones, click here.