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Posts tagged with "earnings call"

Apple Q2 2014 Results: $45.6 Billion Revenue, 43.7 Million iPhones, 16.4 Million iPads Sold

Apple has published their Q2 2014 financial results for the quarter that ended on March 29, 2014. The company posted revenue of $45.6 billion. The company sold 16.4 million iPads, 43.7 million iPhones, and 4.1 million Macs, earning a quarterly net profit of $10.2 billion.

“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

We’ve been a bit busy today with the launch of MacStories 4.0 so we weren’t able to do our usual ‘notes from the call’. But we do have our usual graphs below, so that you can quickly digest this quarter’s earnings results.

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Apple Announces Q2 2014 Conference Call For April 23

Apple’s second quarter earnings report and conference call will take place on April 23rd, 2014, according to an Investor Relations update on Apple’s website first noted by setteBIT. Apple will provide a live audio webcast of the event.

Apple plans to conduct a conference call to discuss financial results of its second fiscal quarter on Wednesday, April 23, 2014 at 2:00 p.m. PT / 5:00 p.m. ET.

In the first quarter of 2014, Apple posted revenue of $57.6 billion and sold 26 million iPads, 51 million iPhones, and 4.8 million Macs, earning a quarterly net profit of $13.1 billion.

For Q2 2014, Apple set its guidance at revenue between $42 billion and $44 billion, with gross margin between 37 percent and 38 percent. Apple didn’t release major new products in the second quarter, with the company expected to roll out new entries in the iPhone and iPad lines later this year. The second quarter will provide insight into the company’s post-holiday sales following a record-breaking first quarter; in early March, Apple announced that CFO Peter Oppenheimer will retire at the end of September 2014. During the quarter, Apple launched a cheaper version of the iPhone 5c in selected markets, retired the iPad 2, and relaunched the iPad 4 with a Lightning connector. Apple also released the first major update to iOS 7, iOS 7.1, six months after the OS’ debut.

In the year-ago quarter, 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.

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


Apple Q1 2014 Results: $57.6 Billion Revenue, 51 Million iPhones, 26 Million iPads Sold

 

Apple has published their Q1 2014 financial results for the quarter that ended on December 28, 2013. The company posted revenue of $57.6 billion. The company sold 26 million iPads, 51 million iPhones, and 4.8 million Macs, earning a quarterly net profit of $13.1 billion.

We are really happy with our record iPhone and iPad sales, the strong performance of our Mac products and the continued growth of iTunes, Software and Services,” said Tim Cook, Apple’s CEO. “We love having the most satisfied, loyal and engaged customers, and are continuing to invest heavily in our future to make their experiences with our products and services even better.

The quarter sets a new record for Apple: before today’s results, the company’s record was $54.5 billion revenue reported for Q1 2013. Read more


Apple Q3 2013 Results: $35.3 Billion Revenue, 31.2 Million iPhones, 14.6 Million iPads Sold

Apple has published their Q3 2013 financial results for the quarter that ended on June 29, 2013. The company posted revenue of $35.3 billion. The company sold 14.6 million iPads, 31.2 million iPhones, and 3.8 million Macs, earning a quarterly net profit of $6.9 billion.

We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Tim Cook, Apple’s CEO. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.

The company generated $7.8 billion in cash flow from operations during the quarter. Read more


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

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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.

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