This Tech Earnings Update is brought to you by Verizon.
Apple's numbers are out!
And they don't look good. As you can see below, Apple missed the expectations of buy-side investors, pretty much across the board.
The thing that should make investors super worried is that iPhone sales were 47.8 million for the quarter. The buy-side was looking for 50 million units.
The stock is off in after-hour trading by 10%.
We are updating this post as we go, so click here for the latest.
- Revenue: $54.5 billion versus $54.58 billion expected
- EPS: $13.81 versus $13.34 expected
- Gross Margin: 38.6% versus 39.5% expected
- iPhone: 47.8 million versus 50 million expected
- iPad: 22.9 million versus 23 million expected
- Mac: 4.1 million versus 5 million expected
- iPod: 12.7 million versus 12 million expected
- March quarter revenue: $42 billion versus $41 billion expected
- March quarter EPS: (We don't see EPS guidance) versus $09.40 expected
- March quarter gross margin: 38% versus 38% expected
In the press release announcing the earnings, CEO Tim Cook said, "We're thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter," adding, "We're very confident in our product pipeline as we continue to focus on innovation and making the best products in the world."
OTHER KEY NUMBERS:
- iPhone ASP: $641.57 (Last quarter it was $636, but that included accessories. It's up, which is good. It shows iPhone 5 is doing well.)
- iPad ASP: $466.93 (Last quarter it was $535, it's off because of the iPad Mini.)
- Cash: $137.1 billion, $94 billion off shore.
HERE ARE KEY DETAILS FROM THE EARNINGS REPORT AND THE EARNINGS CALL IN MORE DEPTH
HERE ARE OUR LIVE NOTES FROM THE EARNINGS CALL
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