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Posts tagged with "earnings"

Apple Q1 2013 Results: $54.5 Billion Revenue, 47.8 Million iPhones, 22.9 Million iPads, 4.1 Million Macs Sold

Apple has just posted their Q1 2013 financial results for the quarter that ended in December 2012. The company posted revenue of $54.5 billion ($13.81 per diluted share), with 22.9 million iPads, 47.8 million iPhones and million 4.1 Macs sold. Apple sold 12.7 million iPods. The company reported quarterly net profit of $13.1 billion.

We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,” said Tim Cook, Apple’s CEO. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”

“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter,” said Peter Oppenheimer, Apple’s CFO. “We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever.

Compared to last year’s Q1 – which had an extra week – Apple made $8.2 billion more revenue, but the same profit. Read more

Apple Announces Q1 2013 Conference Call for January 23

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

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

For the fourth fiscal quarter of 2012 (which ended on September 29th), Apple posted revenue of $36 billion ($8.67 per diluted share), with 14 million iPads, 26.9 million iPhones and million 4.9 Macs sold. In Q4 2012, the company reported quarterly net profit of $8.2 billion, and the entire 2012 fiscal year generated $156.53 billion revenue for Apple.

The first fiscal quarter is traditionally the biggest quarter of the year for the company, as it directly follows the holiday season, including sales for Thanksgiving/Black Friday in the US and Christmas. Q1 2013 will provide a first real insight into sales of the iPad mini, and it will offer details on the iPhone 5’s performances following several international launches in the past few months (international sales accounted for 60 percent of Apple’s revenue in Q4 2012) and the fact that, when Q4 2012 ended on September 29th, the device had only been out for 8 days in 9 countries (where it was released on September 21st).

On December 3rd, the iPhone 5 was available in 47 countries; after Apple’s announcement, the availability of the device jumped to 102 countries by the end of December 2012, with an average of 1.04 countries added in 98 days since the first rollout on September 14th (when pre-orders were launched). In mid-December, Apple announced that first weekend sales of the iPhone 5 in China topped 2 million units.

As for the iPad, the WiFi version of the mini went on sale on November 2 in 34 countries alongside the fourth generation model. Various international rollouts followed the initial launch; Apple also started releasing the WiFi + Cellular version of the iPad mini in mid-November. On November 5th, Apple announced it had sold 3 million iPads (mini + 4th gen) in three days. For context, the 3rd generation iPad launched in 10 initial countries, and then rolled out to 25 more a week later; both WiFi and WiFi + Cellular versions of the 3rd generation iPad were available at launch.

In its guidance for the upcoming first fiscal quarter, Apple said they are expecting “revenue of about $52 billion and diluted earnings per share of about $11.75”; it’s worth keeping in mind how Apple usually “lowballs” its guidance, subsequently “beating” analysts’ (and their own) expectations.

We will provide live updates from the conference call on our site’s homepage on January 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 Q3 2012 Conference Call for July 24: Quarter Recap & Estimates

Earlier today, Apple updated its Investor Relations webpage to include a placeholder for the company’s next earnings call, scheduled for July 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 third fiscal quarter on Tuesday, July 24, 2012 at 2:00 p.m. PT.

Ended on June 30, Apple’s third fiscal quarter will provide insight into the company’s recent performances with the new iPad (launched on March 16 in 10 initial countries), iPhone 4S (which is entering its late-stage product cycle), and revamped Mac line. In the previous quarter, Apple set guidance for Q3 at $34 billion and diluted earnings per share of about $8.68. Currently, consensus by Wall Street analysts averages $37.34 billion in revenues for the third-quarter.

The new iPad has been Apple’s fastest product rollout to date, and Q3 will be the first full quarter for device sales in all the countries where it’s been released. Apple added 56 launch countries in 42 days, and recently expanded to the Middle East and Latin America through official distribution channels and retailers.

With 12 million units sold in Q2 2012, Apple said the new iPad was “off to a great start”, and Q3 2012 will provide the first real opportunity to measure to device’s impact on a wider level. During the past earnings call, CEO Tim Cook noted how he was confident the company would be able to “supply a significant number of iPads during the quarter”.

The iPhone 4S, on the other hand, was released eight months ago, and amidst speculation of a new model coming this Fall – perhaps as soon as October – Q3 2012 will be key to understand the device’s sales over the past four months and, more importantly, its performances in China.

The iPhone 4S launched on its second Chinese carrier – China Telecom – on March 9th, and Q3 2012 will be the first “full quarter” to measure sales in the region. With 35.1 million iPhones sold in the past quarter, Apple reported a 5x growth year-over-year in Greater China, noting how “the incredible quarter” was the result of efforts to understand the market – where more people are moving to the middle class – “as good as we can”.

In Q2 2012 – the company’s biggest non-holiday quarter to date – Apple posted revenue of $39.2 billion, with 11.8 million iPads,  35.1 million iPhones and 4 million Macs sold. Apple sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter. The company posted quarterly net profit of $11.6 billion, or $12.30 per diluted share.

In the year-ago quarter, Apple posted 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.

In his own estimates for the upcoming Q3 results, Asymco’s Horace Dediu forecasted the following numbers:

  • iPhone units: 28.5 million (40%)
  • Macs: 4.5 million (15%)
  • iPads: 24 million (160%)
  • iPods: 6 million (-20%)
  • Music (incl. app) rev. growth: 35%
  • Peripherals rev. growth: 20%
  • Software rev. growth: 15%
  • Total revenues: $41.9 billion (46%)
  • GM: 44.8%
  • EPS: $11.54 (48%)

In their initial projections for Q3 2012, Seeking Alpha estimated higher Mac sales due to the new models released during the quarter (Apple also dedicated a new commercial to the Retina MacBook Pro) and quarterly revenues around $39 billion. As noted by Philip Elmer-DeWitt at Fortune, “as usual the indies are more bullish than the pros”, with independent analysts projecting earnings on average $5 billion higher than the Street’s consensus.

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

Apple’s 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 July 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 Month In Review roundups here.

Sprint Q4 2011 Results: 1.8 Million iPhones Sold, 45% Of New Customers Bought iPhone

Sprint has just announced their Q4 2011 financial results, revealing that they sold 1.8 million iPhones. 40% of those iPhones sold were to new Sprint customers, a high percentage and one that was needed for Sprint. After continued losses, Sprint needed to add more customers to its network and in Q4 it achieved 1.6 million new users - meaning 45% of those new subscribers signed up with an iPhone.

“Our strong fourth quarter performance illustrates the power of matching iconic devices like the iPhone with our simple, unlimited plans and industry-leading customer experience,” said Dan Hesse, Sprint CEO

It follows the financial results from Verizon and AT&T a few weeks ago where it was revealed that Verizon sold 2.2 million iPhones and AT&T sold 7.6 million iPhones.

View the full Sprint press release after the break.

Read more

Apple Announces Q1 2012 Conference Call For January 24

Apple refreshed their Investor Relations page last night, updating with a placeholder that will direct investors (and listeners like us) to the upcoming conference call. For the first fiscal quarter in 2012, Apple has announced that that they will announce results on January 24.

Apple’s conference call webcast discussing Q1 - 2012 financial results will begin at 2:00pm PT/5:00pm ET on Tuesday, January 24, 2012.

In Q4 2011, Apple posted $28.27 billion in revenue with 17.07 million iPhones, 11.12 million iPads, and 4.89 million Macs sold. The company posted quarterly record-breaking revenue of  $28.27 billion and record quarterly net profit of $6.62 billion, or $7.05 per diluted share. Apple had their best iPad quarter to date, selling over 11 million units at a 166% increase over the year-ago quarter. The iPhone grew 21% over the year-ago quarter, while iPod sales were down 27 percent from the year-ago quarter. Apple also saw considerable progress in China, posting $4.5 billion in revenue for the September quarter. As of the fourth quarter, Apple has $81.6 billion in cash available.

During the Q4 2011 conference call, Tim Cook was confident that Apple would have a large supply of the iPhone 4S in the holiday quarter and expected to set an all-time record for the iPhone in the first quarter of 2012. Apple estimates they’ll post $37 billion in revenue and diluted earnings per share of around $9.30 for this quarter.

Asymco’s Horace Diedu estimates that Apple will report earnings of $12.3 on revenues of $44.6 billion, with the street price aiming at $9.75 EPS on $37.99 billion. Diedu expects a 120% year over year growth in iPhone sales, with predicted units sold at 35.7 million. Without a new iPod lineup, iPods sales expected to fall thirty percent from the year-ago quarter, with expected sales at 13.6 million units. iPads and Mac sales will continue to do well, exceeding the year-ago quarter with 100% (14.7 million units sold) and 27% (5.2 million units sold) growth respectively.

Reuters reported that Susquehanna has raised its price target on Apple’s stock and raised their iPhone shipment estimate to 30.3 million iPhones in the first quarter from it’s earlier forecast of 27.1 million units.

On October 17th, Apple announced that it had sold 4 million iPhones on its opening weekend, with 25 million users already using iOS 5. Phil Schiller said it was Apple’s most successful launch yet, doubling the sales of the iPhone 4 sold in three days last year. AT&T broke their record for first-day iPhone sales with 200,000 pre-orders, with Verizon Wireless and Sprint also seeing incredible demand.

We will provide live updates from the call on our site’s homepage on January 24 starting at 2 PM PST.

Apple Announces Q3 2011 Conference Call For July 19

Apple has scheduled its Q3 2011 earnings call for July 19, 2011. The conference call will be streamed live on Apple’s website (audio-only) here.

Apple’s conference call webcast discussing Q3 - 2011 financial results will begin at 2:00pm PT/5:00pm ET on Tuesday, July 19, 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 Q2 2011, Apple posted revenue of $24.67 billion, with 4.69 million iPads, 18.65 million iPhones and 3.76 million Macs sold. The company also reported quarterly revenue growth of 83% and profit growth of 95% with international sales were 59% for the quarter. In the year-ago quarter, Apple posted record revenue of $15.7 billion with 3.47 million Macs, 8.4 million iPhones, 9.41 million iPods and 3.27 million iPads sold.

The third quarter is set to provide some insight into the sales of the long-awaited white iPhone 4, and whether or not the lack of a new iPhone release this summer has affected the overall sales of the iPhone 4, now a 12-month old device.

We will provide live updates from the call on our site’s homepage on July 19 starting at 2 PM PDT.

[Thanks, Shawn]

iPhone and iPad Drive Softbank’s Profit Growth

As reported by The Wall Street Journal, Japanese mobile carrier Softbank (the third largest carrier in the country by number of subscribers) has announced record operating profit for the January - March quarter with net profit surging to Y47.41 billion from the Y1.85 billion posted last year. Thanks to high demand for iPhones and iPads, the carrier managed to move away from last year’s “unusual” profit loss, due to the adoption of 3G mobile services, and the discontinuation of 2G. Softbank is the only carrier that sells the iPhone in Japan, and the high demand for the device in a market otherwise saturated by alternative smartphones helped the company achieving record profit during the quarter.

The expansion of the smartphone market led by the iPhone and iPad was a huge factor that contributed to the growth,” said Softbank President and Chief Executive Masayoshi Son.

Softbank’s earnings also reported average revenue per user – also known as ARPU – rose to Y4,210 (from Y4,070) thanks to the iPhone’s growth in Japan. The iPhone became Japan’s best selling cellphone last October, and Softbank later announced a new promotion to give users an iPad for free upon subscribing to the carrier’s two-year data plan.

AT&T Q4 Earnings: 4.1 Million iPhone Activations and 442,000 iPads & Tablets

US-based carrier AT&T has announced its quarterly results for Q4 2010, and there are some interesting numbers in there worth to be considered. The company reported 4.1 million iPhone activations in Q4, the last quarter as the exclusive iPhone carrier in the United States. On February 10, Verizon Wireless will begin selling a CDMA version of the iPhone 4, with pre-order sales starting February 3rd.

Mentioning “continued expansion in new wireless growth areas”, AT&T also announced they added 1.5 million “connected devices” including 442,000 iPads and Android tablets. AT&T started selling the iPad WiFi + 3G model in its retail stores on October 28th, 2010.

AT&T also reported 9.9% growth in wireless revenues and consolidated revenues of $31.4 billion in the fourth quarter. Full press releases embedded below. Read more