Apple reports Q2 2013 profit of $9.5 billion, revenues of $34.6 billion

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Date: Tuesday, April 23rd, 2013, 14:50
Category: Finance, iPad, iPad mini, iPhone, News

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It’s 18% lower than it was last year, but it’s still US$9.5 billion in the bank…

Per AppleInsider, Apple on Tuesday said second quarter profits fell roughly 18% to US$9.5 billion — or US$10.09 per diluted share — despite record second quarter sales of US$43.6 billion — the first year-over-year decline in earnings for the one-time tech darling in nearly a decade.

The results for the three-month period ended March 30, 2013 compare to revenue of US$39.2 billion and net profit of US$11.6 billion, or US$12.30 per diluted share, in the year-ago quarter. Gross margin was 37.5 percent, approximately 100 basis points lower than the 47.4 percent reported in the year-ago quarter, as consumers gravitated to more affordable, lower-margin products like the iPad mini.

During the quarter, Apple sold 37.4 million iPhones and 19.5 million iPads, compared to 35.1 million iPhones and 11.8 million iPads in the year-ago quarter. The company also said it sold just under 4 million Macs, compared to 4 million in the year-ago quarter. Overall, international sales accounted for 66 percent of the quarter’s revenue.

“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”

Looking ahead to the current June quarter, Apple provided following guidance:
- Revenue between US$33.5 billion and US$35.5 billion.

- Gross margin between 36 percent and 37 percent.

- Operating expenses between US$3.85 billion and US$3.95 billion.

- Other income/(expense) of US$300 million

- Tax rate of 26%.

“Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion,” said Apple CFO Peter Oppenheimer.

For Apple, Tuesday’s results mark the first year-over-year decline in profits since the first quarter of 2003 when the “early 2000s recession” began to set in stateside.

Stay tuned for additional details as they become available.

Apple Q2 2013 financial results due today

Posted by:
Date: Tuesday, April 23rd, 2013, 07:08
Category: Finance, Fun, News

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Ladies and gentlemen, Apple’s Q2 2013 results will be released starting at 2PM EST today.

Stay tuned to the PowerPage for updated coverage of the press event.

In the meantime, prior to worrying about finances, your portfolio and what bills may happen to be due, relax and remember that the Martians from “Sesame Street” were awesome on every conceivable level.



Apple begins incorporating “Download Later” for larger purchases in iTunes 11

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Date: Tuesday, April 23rd, 2013, 07:37
Category: iTunes, News, Software

This could be useful.

Per Macworld, Apple added a welcome tweak to large media purchases initiated either via the mobile iTunes Store or iTunes 11. Users attempting to download large media files such as movies or music box sets are presented a prompt enabling them to commence the download immediately or save it for a time when they presumably have better bandwidth.

When purchasing any of the above items using iTunes 11 on a Mac or Windows PC, or an iOS device running iOS 6 or later, you’re now presented with “Later” and “Download” (or “Download All”) buttons. Tap “Later” and the purchased items will be added to your iTunes account and accessible to stream or download in the future via Apple’s iTunes in the Cloud feature.

The option to “download later” is exclusively applicable to TV seasons, Season Passes, movie bundles, music box sets, individual movies and TV episodes.

Apple outlines the specifics of the new software tweak in the following updated support document. Lastly, note that the prompt will only appear for users in countries where Apple provides iTunes in the Cloud support.

If you’ve seen this change on your end and have any feedback to offer, please let us know in the comments.

iPhone 4 “Antennagate” owners beginning to receive settlement checks from Apple

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Date: Tuesday, April 23rd, 2013, 06:48
Category: iPhone, Legal, News

It’s not a whopping amount of justice, but it’s still justice.

Or at least a settlement.

Per 9to5Mac, iPhone 4 owners who participated in a class action lawsuit against Apple over antenna attenuation complaints are finally starting to receive settlement checks.

More than a year ago, Apple reached a settlement with attorneys for the class action complaint, agreeing to pay US$53 million to make the problem go away after supposedly “misrepresenting and concealing material information in the marketing, advertising, sale, and servicing of its iPhone 4 — particularly as it relates to the quality of the mobile phone antenna and reception and related software.”

Owners who cashed in on Cupertino’s earlier offer of a free bumper or case were not eligible for the settlement, so if you haven’t seen a check, that could be why. According to recipients, the settlement checks for a whopping US$15 were issued on April 17 and must be cashed by July 16, 2013 or they are null and void.

Why only 15 smackeroos? Apparently the class action lawyers took home a US$16 million fee from the settlement, which doesn’t make anyone feel any better…

If you’ve received a settlement check for the iPhone 4 antenna issue, please let us know in the comments.

Google Earth updated to 7.1.1.1580

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Date: Tuesday, April 23rd, 2013, 06:03
Category: News, Software

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Late Monday, software giant Google released version 7.1.1.1580 of its popular Google Earth program. The new version, a 42.8 megabyte download, adds the following fixes and changes:
- Ability to create rich, annotated images from print and save.

- Redesigned print flow.

- Viewshed/Line of Sight analysis tool from a placemark.

- Support for LEAP Motion device.

- Enhanced starfield.

- Google Feedback tool integration.

- Redesigned balloons.

Bug fixes:
- Polygons and image overlays display over the international dateline.

- Performance improvements in Movie Maker and in viewing 3D imagery areas.

- Ocean surface displays across Mac clients with Intel GPUs.

- Full Map names display in Google Maps Engine maps.

- Earth client now supports NTLM authentication for a PAC file.

- Fixed Incorrect “Z-order” in rendering overlapped vector layers.

Google Earth 7.1.1.1580 requires an Intel-based Mac running Mac OS X 10.6 or later to install and run.

If you’ve tried the new version and have any feedback to offer, let us know in the comments.