Apple's profits rise 20% on sales of 26M iPhones, 17M iPads, and 4M Macs

Posted:
in AAPL Investors edited January 2014
Apple said Tuesday that third-quarter profits rose just over 20 percent to $8.8 billion, or $9.32 per diluted share, on sales of $35.0 billion for the three-month period ended June 30, 2012.

The results compare to revenue of $28.6 billion and net profit of $7.3 billion, or $7.79 per diluted share, in the year-ago quarter. Gross margin was 42.8 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter?s revenue.

Apple sold 26.0 million iPhones in the quarter, representing 28 percent unit growth over the year-ago quarter, in addition to 17.0 million iPads -- an 84 percent unit increase over the year-ago quarter.

Apple also shipped 4.0 million Macs during the quarter, a two percent unit increase over the year-ago quarter. iPod sales continued to decline at a rate of 10 percent to 6.8 million units.

?We?re thrilled?with record sales of 17 million iPads in the June quarter,? said Apple chief executive Tim?Cook.??We?ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we?ve got in the pipeline.?

Apple?s Board of Directors also declared Tuesday a cash dividend of $2.65 per share of the Company?s common stock. The dividend is payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012.

"We?re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,? said Peter Oppenheimer, Apple?s CFO. "Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65."

Apple's results came in below analyst expectations, as most institutional market watchers expected Apple to report sales of nearly 29 million iPhones, according to data collected by Apple 2.0. The miss was even bigger for the more bullish independent analysts, who projected, on average, that Apple would sell more than 31 million iPhones in the quarter.

Apple will provide live streaming of its Q3 2012 financial results conference call beginning at 2:00 p.m. PDT today. AppleInsider will provide full coverage.
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Comments

  • Reply 1 of 78
    jason98jason98 Posts: 765member


    26M iPhones which is lower than most of the pessimistic predictions. If the next quarter they sell 20M it will be a success.

  • Reply 2 of 78
    freshmakerfreshmaker Posts: 530member


    A great quarter, but the "analysts" were expecting revenues of $37B.  Shares are down 6% in aftermarket trading...

  • Reply 3 of 78


    Amazing, you can make 8.8 billion dollars profit...and still lose $28/5% of your stock value after hours. 


     


    EDIT: CNBC - Apple Delivers a Big Earnings Miss; Outlook Disappoints ....CLOWNS.


  • Reply 4 of 78
    sflocalsflocal Posts: 4,744member


    Apple sure is doing great.  As usual, AAPL is taking a hit.  Apparently, even with the record iOS devices sold, the analysts thought they would sell 1.3 gazillion devices so Apple didn't hit their targets...



    pr!cks...

  • Reply 5 of 78
    anantksundaramanantksundaram Posts: 19,407member


    Ouch. Stock is going to start sinking.


     


    But, for me, it will be a tremendous buying opportunity. I hope it goes to $550 (my reservation price).


     


     


    --


    PS: I guess it has already started to sink.... missed the earlier posts.

  • Reply 6 of 78
    aaarrrggghaaarrrgggh Posts: 1,583member
    Amazing, you can make 8.8 billion dollars profit...and still lose $28/5% of your stock value after hours. 

    There are a lot of people who should get out of the stock at this point, as it no longer appears to meet their investment objectives, particularly when you consider there is another disappointing quarter coming. A 1.7% dividend doesn't exactly balance it out.

    All told though, AAPL is fairly valued at around $600 now, which isn't bad...
  • Reply 7 of 78
    herbapouherbapou Posts: 2,223member


    I understand that a 20% yoy rise may seems good, but this is a horrible quarter for Apple.   The iPhone sales are such a huge miss, the other metrics are actually pretty fair, but with 50% of Apple profit coming from the iPhone, it had a huge impact on profit.


     


    Its the worst Apple quarter I can remember, its much worst than the october 2011 quarter considering we are still 1 quarter away from the iPhone refresh.  That being said, this may be a great time to buy either Apple stocks for the long term or option leaps in 2014, if you believe Apple can still compete on the phone side with the new iPhone.

  • Reply 8 of 78
    aaarrrggghaaarrrgggh Posts: 1,583member
    The thing that really pisses me off though is Huberty was the closest estimate...
  • Reply 9 of 78
    tallest skiltallest skil Posts: 43,399member


    APPLE IS DOOMED.

  • Reply 10 of 78
    jason98jason98 Posts: 765member

    Quote:

    Originally Posted by thataveragejoe View Post


    Amazing, you can make 8.8 billion dollars profit...and still lose $28/5% of your stock value after hours. 


     


    EDIT: CNBC - Apple Delivers a Big Earnings Miss; Outlook Disappoints ....CLOWNS.




     


    This is even more amazing in the context of Microsoft's last earning where they posted a loss and still managed to get stock price up. Although they showed it $6.2B write-down on unsuccessful acquisition, what I think really happened is that they accumulated this over many quarters of over-reported earnings. The trick is going to be repeated I guess with Skype in a few years.

  • Reply 11 of 78
    retrogustoretrogusto Posts: 744member


    "Generally speaking, most investors believe Apple will report sales of between 25 million and 27 million iPhones."


    (http://www.appleinsider.com/articles/12/07/23/apple_earnings_preview_big_quarter_expected_for_ipad_iphone_forecasts_vary.html)


     


    Check.


     


    "Mac sales are pegged at 4 million"


     


    Check.


     


    "iPad sales are harder to nail down, but he believes expectations are between 15 million and 16 million."


     


    Check. (actually, better)


     


    So it's not really that big of a miss, but people are freaking out because it's also not much of a beat.

  • Reply 12 of 78
    just_mejust_me Posts: 590member

    Quote:

    Originally Posted by Tallest Skil View Post


    APPLE IS DOOMED.



    QFT

  • Reply 13 of 78
    dick applebaumdick applebaum Posts: 12,524member

    Quote:

    Originally Posted by Tallest Skil View Post


    APPLE IS DOOMED.



     


     


    There... fixed it for you!

  • Reply 14 of 78
    retrogustoretrogusto Posts: 744member

    Quote:

    Originally Posted by aaarrrgggh View Post



    The thing that really pisses me off though is Huberty was the closest estimate...




    The world turned upside down!

  • Reply 15 of 78


    Let's see what Tim and Co. have to say about this quarter's results.  


     


    I see the trolls are out.  Oh, well....

  • Reply 16 of 78
    SpamSandwichSpamSandwich Posts: 31,486member

    Quote:

    Originally Posted by aaarrrgggh View Post



    The thing that really pisses me off though is Huberty was the closest estimate...


     


    Hahaha... That really is funny.

  • Reply 17 of 78
    joshajosha Posts: 901member


    Don't you see the brokerage house game people?


     


    Set a too high objective, then the stock drops on it's gain because it didn't meet some analyst guess!


    Gives the houses a chance to  buy underpriced Apple shares, from those who panic and sell.


     


    Anyway a nice dividend coming for those who ignored the brokerage house game.

     

  • Reply 18 of 78
    jfc1138jfc1138 Posts: 3,090member


    Beat their own guidance.

  • Reply 19 of 78
    rogifanrogifan Posts: 10,669member
    herbapou wrote: »
    I understand that a 20% yoy rise may seems good, but this is a horrible quarter for Apple.   The iPhone sales are such a huge miss, the other metrics are actually pretty fair, but with 50% of Apple profit coming from the iPhone, it had a huge impact on profit.

    Its the worst Apple quarter I can remember, its much worst than the october 2011 quarter considering we are still 1 quarter away from the iPhone refresh.  That being said, this may be a great time to buy either Apple stocks for the long term or option leaps in 2014, if you believe Apple can still compete on the phone side with the new iPhone.
    Horrible quarter based on what? Inflated predictions from wall street analysts? Apple was pretty much on target with their revenue estimates but yet whenever they provide guidance everyone says they're low balling it just so they can blow out the numbers.
  • Reply 19 of 78
    herbapou wrote: »
    I understand that a 20% yoy rise may seems good, but this is a horrible quarter for Apple.   The iPhone sales are such a huge miss, the other metrics are actually pretty fair, but with 50% of Apple profit coming from the iPhone, it had a huge impact on profit.

    Its the worst Apple quarter I can remember, its much worst than the october 2011 quarter considering we are still 1 quarter away from the iPhone refresh.  That being said, this may be a great time to buy either Apple stocks for the long term or option leaps in 2014, if you believe Apple can still compete on the phone side with the new iPhone.

    Yup, despite great growth, a disappointment for the stock. This really speaks to an overestimate on international growth for the iPhone. They need China Mobile. Also, carrier pricing in Europe favors Android. Nevertheless, the ramp up on the iPad suggests that it is not long before iPad profits equal iPhone profits. 2 years?
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