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Apple earnings come in flat at $13.1B on sales of 47.8M iPhones, 22.9M iPads and 4.1M Macs

post #1 of 148
Thread Starter 
Apple announced Wednesday a profit of $13.1 billion, or $13.81 per diluted share, on record quarterly revenue of $54.5 billion for the three-month period ended December 29th, 2012.

Apple

The results compare to revenue of $46.3 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the 14-week year-ago quarter. Gross margin was 38.6 percent compared to 44.7 percent in the year-ago quarter. International sales accounted for 61 percent of the quarter?s revenue.

Average weekly revenue was $4.2 billion in the quarter compared to $3.3 billion in the year-ago quarter.

Apple sold a record 47.8 million iPhones in the quarter, compared to 37 million in the year-ago quarter. It also sold a record 22.9 million iPads during the quarter, compared to 15.4 million in the year-ago quarter. Macs fell short of consensus estimates at 4.1 million units, down from 5.2 million in the year-ago quarter. Apple also sold 12.7 million iPods in the quarter, compared to 15.4 million in the year-ago quarter.

"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."

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 February 14, 2013, to shareholders of record as of the close of business on February 11, 2013.

"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."

Apple is providing the following guidance for its fiscal 2013 second quarter:

? revenue between $41 billion and $43 billion
? gross margin between 37.5 percent and 38.5 percent
? operating expenses between $3.8 billion and $3.9 billion
? other income/(expense) of $350 million
? tax rate of 26%

Apple will provide live streaming of its Q1 2013 financial results conference call beginning at 2:00 p.m. PST today. AppleInsider will provide live coverage.
post #2 of 148
It's a miss...
and the stock is being pummeled
post #3 of 148
Quote:
Originally Posted by Blitz1 View Post

It's a miss...
and the stock is being pummeled

Yep...def thought they'd do more than 50M iPhones...wow.

post #4 of 148
Quote:
Originally Posted by Blitz1 View Post

It's a miss...
and the stock is being pummeled

 

The projection for Q2 is a "miss." Actually, EPS was slightly above consensus. Revenue was slightly below consensus, and iPhone and iPad sales were in line. Mac sales were a miss, but they are relatively small.

post #5 of 148
Best quarter ever! stock tanks
Makes sense
post #6 of 148

It'll be up tomorrow.

post #7 of 148
Of course we must start this off with "Apple is doomed!"

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post #8 of 148
And AAPL tanks. When will the SEC fix this mess?
post #9 of 148

This is depressing. I really hope they plan to buy back shares, split the stock, or something to boost the stock!

post #10 of 148

Tremendous quarter. 

I'm not a pessimist. I'm an optimist, with experience.
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I'm not a pessimist. I'm an optimist, with experience.
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post #11 of 148

hillarious! 13 billion in profit and the stock will lose at least 15%... lol

post #12 of 148
What is happening with AAPL makes me don't want to invest again . It just doesn't make sense
post #13 of 148

It's a record quarter. 

 

It's interesting to see that iPad sales are approaching iPhone-level numbers from a couple of years ago. 

post #14 of 148

Apple's stock will skyrocket in the morning. They had a fantastic quarter.

post #15 of 148
Quote:
Originally Posted by rob53 View Post

And AAPL tanks. When will the SEC fix this mess?


2 things being looked at:

 

1. Q2 projection is below analysts projections

 

2. Margins have dipped considerably

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post #16 of 148
Quote:
Originally Posted by Quadra 610 View Post

It's a record quarter. 

 

It's interesting to see that iPad sales are approaching iPhone-level numbers from a couple of years ago. 

2011, actually.

post #17 of 148
Quote:
Originally Posted by pedromartins View Post

hillarious! 13 billion in profit and the stock will lose at least 15%... lol

Won't lose that much, but Mac sales down 20% and margins down to 38% from 44%.  Their revenue went up a ton, but they only had as much in profit as Q4 last year.  A great quarter to be sure, but Street is so used to Apple beating estimates that it really hurts them when they don't now.

post #18 of 148
Quote:
Originally Posted by cameronj View Post

It'll be up tomorrow.


You really think so?

 

Up from where?

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post #19 of 148
Quote:
Originally Posted by island hermit View Post


2 things being looked at:

 

1. Q2 projection is below analysts projections

 

2. Margins have dipped considerably

who cares, since revenue and profit is going up? Do you at least know what you are talking about? Then we have this P/E... It's hillarious.

post #20 of 148

I'm very satisfied with 38.6% margins.  I'm probably most curious about iPhone number being a little low...why?  Everything else seemed predictable.

post #21 of 148

22 million iPads? As Quadra just said those sales are skyrocketing. All things considered it's a great, great quarter but apparently that isn't enough.

 

After hours the stock is down almost 5%. It'll probably regain a little but that is a lot of red right now.

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post #22 of 148

We are in the middle of a huge world wide recession where pretty much every other company in the same market is haemorrhaging money like there is no tomorrow but when Apple come in with a record quarter this is somehow not good enough... I really don't know what people expect Apple to do?

post #23 of 148
Quote:
Originally Posted by alphafox View Post

Best quarter ever! stock tanks
Makes sense

 

Sadly, the performance of a stock is based on relative rather than absolute performance. In absolute terms and in its own right, the quarter was awe-inspiring. But in relative terms (particularly relative to unreasonable expectations), it was at best meh.

 

Quote:
Originally Posted by cameronj View Post

It'll be up tomorrow.

 

I hope so. But I doubt it, unless Cook and Oppenheimer say something unexpectedly positive in the teleconference.

 

Quote:
Originally Posted by greendisease View Post

This is depressing. I really hope they plan to buy back shares, split the stock, or something to boost the stock!

 

I hope not, at least not a buyback. It's short term gimmick with no long term value. Hang tight, mate.

post #24 of 148
Quote:
Originally Posted by pedromartins View Post

who cares, since revenue and profit is going up? Do you at least know what you are talking about? Then we have this P/E... It's hillarious.

 

It's not hilarious. Gross Margin is down from 44% to 38% That's a serious move. 2-3% would have been more in line. Stocks trade on forward potential, not past results - Apple may have had an ungodly quarter, but the future doesn't look as exponential; that's the key.

I'm not a pessimist. I'm an optimist, with experience.
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I'm not a pessimist. I'm an optimist, with experience.
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post #25 of 148
Quote:
Originally Posted by pedromartins View Post

who cares, since revenue and profit is going up? Do you at least know what you are talking about? Then we have this P/E... It's hillarious.


So you are saying that those 2 things didn't happen?

 

Besides... it wasn't me that I'm talking about. The person I was replying to was wondering why the stock was going down. I mentioned 2 reasons why. Just so you know... I don't control the price of AAPL.

 

So, yes, I do know what I am talking about.

 

On that note, you mentioned that profit went up. No it didn't from last holiday quarter. It's probably to do with that margin thing. Do you know what you are talking about.


Edited by island hermit - 1/23/13 at 1:59pm
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post #26 of 148
edit: Pipped by thataveragejoe and island hermit.

"The real haunted empire?  It's the New York Times." ~SockRolid

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

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"The real haunted empire?  It's the New York Times." ~SockRolid

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

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post #27 of 148
Quote:
Originally Posted by alcstarheel View Post

22 million iPads? As Quadra just said those sales are skyrocketing. All things considered it's a great, great quarter but apparently that isn't enough.

 

After hours the stock is down almost 5%. It'll probably regain a little but that is a lot of red right now.

 

I'm not sure wtf people expect of this company. 

 

They hit *another* record quarter in a long, long string of them, and it still isn't good enough. 

 

 

??

post #28 of 148
Quote:
Originally Posted by cameronj View Post

It'll be up tomorrow.

 

They inflated the targets to drive down the price so they can come in tomorrow and buy up much greater control of the outstanding shares. It's an institutional run.

post #29 of 148
Quote:
Originally Posted by alcstarheel View Post

22 million iPads? As Quadra just said those sales are skyrocketing. All things considered it's a great, great quarter but apparently that isn't enough.

 

After hours the stock is down almost 5%. It'll probably regain a little but that is a lot of red right now.


EPS is flat year over year. To some, that's enough of a red flag. After all, investors are already jittery over $AAPL.

post #30 of 148
Tim is starting to sound like a broken record.
post #31 of 148
Quote:
Originally Posted by SolipsismX View Post

edit: Pipped by thataveragejoe and island hermit.

 

No, it means the investments of infrastructure is the reason for the net profit to be down. Apple is increasing R&D, construction of campuses and data centers to new stores all well in excess of $7 billion.

 

Apple Cupertino campus will run around $4.5 Billion alone. Sorry, but the ignorance of the average consumer to not see the deliberate attempt at garnering greater institutional control of the direction of Apple still seems like a bad dream.

post #32 of 148
Quote:
Originally Posted by pedromartins View Post

hillarious! 13 billion in profit and the stock will lose at least 15%... lol

 

Yep. I'm watching BITV right now and almost every commenter starts off by saying "any other company would kill for these numbers." Then they proceed to whine and moan about Apple missing estimates. In layman's terms they're saying "Apple is making money hand over fist, and selling the crap out of everything they make, but it ain't good enough for us." In the same breath, however, they marvel at how low Apple's P/E is, how cheap the stock is, and how they don't understand why the price isn't higher. They sound like idiots when they explain Apple.

post #33 of 148
Quote:
Originally Posted by pjanders View Post

Apple's stock will skyrocket in the morning. They had a fantastic quarter.

 

 

hold your pants.  just wait it it hits $450.

post #34 of 148
Quote:
Originally Posted by mdriftmeyer View Post

 

They inflated the targets to drive down the price so they can come in tomorrow and buy up much greater control of the outstanding shares. It's an institutional run.


I wonder if how true that is.

 

Part of me believes it must be true. But here's the thing. It's rather remarkable how close "the Street" was to the real numbers. Really remarkable. Arguably, their predictions are sufficiently limited in science that you'd expect the market to be forgiving if the real numbers are slightly below expectations. But, regardless, if the analysts are so good that they are make projections that are just slightly above the real numbers so as to drive down the stock, then they are veritable geniuses.

post #35 of 148
On these results it's more important than ever for Apple to release a multitude of different sized phones that are much, much cheaper because on news of a reduced profit margins the answer is surely dropping the margins even further¡

"The real haunted empire?  It's the New York Times." ~SockRolid

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

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"The real haunted empire?  It's the New York Times." ~SockRolid

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

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post #36 of 148
Quote:
Originally Posted by island hermit View Post


2 things being looked at:

 

1. Q2 projection is below analysts projections

 

2. Margins have dipped considerably


Very important points indeed. Having said that, doesn't Apple always provide guidance lower than analysts' projections? But the second point is critical. EPS did not improve at all y/y. Is this due to the free iPhone4 or the lower margin of iPad Mini? In either case, the trend may continue.

post #37 of 148
Quote:
Originally Posted by stelligent View Post


EPS is flat year over year. To some, that's enough of a red flag. After all, investors are already jittery over $AAPL.

 

Right, because the 1000%+ increase since 1998 wasn't at any point along the way possibly a sense of the jitters to investors? Get real. This stock is nothing but a wet dream for hedge fund owners and day traders.

 

Paying to place false stories making outlandish targets a week before the numbers are officially out makes it rather clear Apple has at least 1 mole inside Austin's Accounting Department leaking numbers to insider traders.

 

The DoJ and the SEC have 4 years to dig in deep and follow the money.

post #38 of 148

I have nothing to add!

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post #39 of 148
Quote:
Originally Posted by island hermit View Post


You really think so?

 

Up from where?

if it is around $450, i will jump in with all my cash...

post #40 of 148

Over 20 Bio eradicated.

Well, hate to say it, but the people who were a bit more realistic about Apple have the upper hand.

I'm amongst them and still I'm happy to say I love my new iMac 27'' , my iPhone, my MBAir, ...

and yet, something's definitely broken.

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