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Tag: Q1

  • Apple posts $54.5 billion in revenue, $13.1 billion profit for Q1 2013 financial returns

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    It was a profitable quarter, but there were setbacks compared to last year.

    Per Macworld, for the company’s first fiscal quarter of 2013, Apple posted revenue of US$54.5 billion and a net profit of US$13.1 billion. Revenue rose 17.7 percent from the 2012 first quarter, while profit was flat year-over-year. Apple earned US$13.81 per share, down half-a-percentage point from the US$13.87 it earned in the year-ago quarter.

    Apple’s quarterly performance was in line with Wall Street expectations. Analysts were looking for sales of around US$54.7 billion for the quarter and earnings per share of US$13.42.

    iPhone sales hit a record for the quarter ended Dec. 29, 2012, up 29 percent year over year to 47.8 million phones. That was within the 46 to 47 million range analysts were looking for. Apple says it sold 3.7 million phones a week during the quarter, compared to weekly sales of 2.6 million during the 2012 quarter.

    iPhone sales growth was strong in all sales regions, Oppenheimer said, but particularly in Greater China, which includes China, Taiwan, and Hong Kong. Sales doubled year over year in that region.

    Oppenheimer credited the “tremendous popularity” of iPhone 5 for driving Apple’s phone business—a not so subtle slap at rumors of sluggish iPhone 5 sales. Breaking with Apple’s typical practice of not addressing rumors, Cook did dismiss reports of iPhone order cuts.

    iPad sales also set a new high-water mark, with 22.9 million tablets sold, compared to 15.4 million last year. That translates to more than 1.7 million iPads sold per week, a 60 percent increase from the year-ago quarter, according to Oppenheimer.

    As is its custom, Apple didn’t break out sales figures between iPad models—it currently offers the iPad 2, a fourth-generation model of its full-sized iPad, and the iPad mini. Oppenheimer called the smaller version of Apple’s tablet a “tremendous hit.”

    For the quarter, Apple sold more than 75 million iOS devices.

    The company sold 12.7 million iPods, down about 21 percent compared to the year before. The iPod touch was (as always) popular during the holidays, and still accounts for more than half of all iPods sold. The company claims that the iPod owns more then 70 percent of the market for MP3 players.

    iTunes generated US$2.1 billion in revenue, and the company established new all-time quarterly sales records for music, movies, and apps. The company added music stores in 56 countries, for a total of 119 around the world. The App Store sold 2 billion downloads in December; cumulative downloads have surpassed 40 billion, generating US$7 billion in payments to developers.

    Apple made brief mention of its Apple TV offering, noting that it sold more than 2 million settop boxes during the holiday season quarter. That’s a 60 percent increase from the prior year.

    Revenue from Apple’s retail effort was US$6.4 billion—an all-time high and a 5 percent increase over the 2012 first quarter. The company says that revenue is largely due to iPad and iPhone sales.

    Apple opened 11 new stores, including four in its Greater China region. It expects to invest a bit less than US$1 billion in its retail stores this fiscal year.

    Apple once again noted that the cumulative downloads have now surpassed 40 billion for the App Store, generating US$7 billion for developers. There were 2 billion downloads in the month of December alone.

    Unusually, Apple did not break out the percentage of customers who purchased Macs at Apple Stores who were new to the platform. (In the past, that company has hovered consistently around 50 percent.) That omission could be a byproduct of the dip in Mac sales during the quarter.

    For the second quarter ending in March, Apple expects sales to come in between US$41 and US$43 billion. That number would be slightly ahead of the US$39.2 billion in revenue the company logged in the 2012 second quarter. Apple is no longer giving analysts a forecast on earnings per share for the quarter, instead providing its expectations for gross margin and operating expenses in addition to revenue. (Apple expects gross margin to be between 37.5 and 38.5 percent for the upcoming quarter while operating expenses will come in at US$3.8 and US$3.9 billion.)

  • Apple Q1 2013 results to be released later today

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    Ladies and gentlemen, Apple will be holding a conference call to announce its earnings for the first quarter of 2013 at 2 PM PST/5 PM EST. Stay tuned to the PowerPage for details as they become available and additional information can be found over at investor.apple.com.

  • Apple to hold Q1 2013 earnings conference call on Wednesday, January 23rd

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    It’s nice to get the numbers back and see how you’re doing.

    Per AppleInsider, Apple announced on Wednesday that it will reveal results for the first fiscal quarter of 2013 on Jan. 23, which will be followed by an earnings conference call expected to cover initial statistics for the holiday season as well as performance numbers for the iPad mini.

    The announcement was posted to Apple’s Investor Relations web site and noted the conference call will start on Wednesday, Jan. 23 at 2:00 p.m. Pacific/5:00 p.m. Eastern. A live audio stream of the call will be available at this link.

    In the fourth quarter of 2012, Apple saw a 25 percent boost in profits thanks to strong sales of 44 million iDevices, including 26.9 million iPhones, for the three month period. Revenue for fiscal 2012 reached over US$156 billion on sales of more than 200 million iOS devices, 18 million Macs, and 35 million iPods.

    For the upcoming report, Apple forecast revenue of US$52 billion and diluted earnings per share of about US$11.75 for the quarter ending in December. The multitude of new product launches and product line refreshes, like the iPad mini, iPhone 5 and newly redesigned iMac line, are expected to drive down gross margins that could equate to a decline of 400 basis points for the three month period.

    Stay tuned to the PowerPage for up to the minute coverage on the earnings come the 23rd.

  • Apple reports $46.33 billion in sales, $13.06 billion profit for Q1 2012

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    You just can’t ignore a US$13.06 billion profit.

    Per Macworld, Apple on Tuesday reported that it tallied US$46.33 billion in sales and US$13.06 billion in profit for the fiscal first quarter ended Dec. 31.

    Both the revenue and profit figures were quarterly records for Apple and blew away the numbers recorded in the year-ago quarter. Sales rose 73 percent from last year’s figure of US$26.74 billion; profits more than doubled from the US$6 billion earned in the fiscal first quarter of 2011.

    Apple earned US$13.87 per share for the just-completed quarter, up 116 percent from last year. That handily beat consensus analyst estimates of US$10.08 per share. Analysts were expecting Apple’s sales to come in at US$38.85 billion.

    “We are very proud of these results and extremely pleased with the momentum of our business,” Apple chief financial officer Peter Oppenheimer told analysts during a conference call to discuss the company’s results. Noting the record sales across three of its major product offerings, Oppenheimer hailed what he called the “strongest product lineup in Apple’s history.”

    Apple’s strong performance during the quarter comes with a minor caveat. To align the fiscal first quarter with the end of the calendar year, Apple’s quarter ran 14 weeks—that’s an extra week over the typical fiscal quarter.

    The company sold 37.04 million phones during a quarter which saw the release of the iPhone 4S. That’s a 128 percent jump from the iPhones sold during the year-ago quarter, and it tops the previous record for iPhone sales of 20.34 million units sold during 2011’s third quarter.

    Apple reported US$24.4 billion in recognized revenue from its iPhone product line, up from US$10.5 billion in the year ago. While Apple doesn’t break out sales by model, Cook noted that the 4S was the most popular of the smartphones sold by Apple. (The company also sells a US$99 iPhone 4 and offers a free iPhone 3GS with a two-year service agreement.)

    The iPad also enjoyed record sales during the quarter, with Apple selling 15.4 million tablets. That’s an increase of nearly 111 percent from the 7.3 million iPads sold during the year-ago quater.

    Recognized revenue from the iPad line jumped 99 percent to US$9.1 billion, up from US$4.6 billion in last year’s quarter.

    Since releasing its first iPad a little less than two years ago, Apple has sold 55 million tablets, according to Cook.

    Looking at all products that run the iOS mobile operating system, Apple says it’s sold 315 million cumulative iOS devices, with 62 million of those devices being sold in the just-completed quarter.

    One of those iOS devices—the iPod touch—accounted for more than half of the iPods sold by Apple during the holiday season. That’s a bright spot in the otherwise stagnant iPod segment—sales dipped 21 percent for the quarter to 15.4 million units.

    Still, Apple says that the iPod still continues to command a 70 percent share of the MP3 player market, and its music player remains the top-selling device in most of the countries the company monitors.

    Apple completed its hat trick of product line records by selling more Macs during the first quarter than in any previous quarter. The company says it sold 5.2 million Macs, a 26 percent increase from the year-ago quarter. Oppenheimer said the growth was driven by strong MacBook Air, MacBook Pro, and iMac sales

    Sales of both desktops and laptop topped quarterly records as well, though laptops continue to drive the company’s Mac business. Apple sold 3.7 million portables during the quarter, nearly 72 percent of the total Macs sold.

    The strong Mac sales come at a time when the rest of the PC industry is struggling with stagnant growth. Oppenheimer noted that research firm IDC forecasted a flat growth rate for the quarter—a figure that Apple easily outpaced. It’s the 20th consecutive quarter that Apple’s Mac business had outgrown the overall PC market.

    In fact, Apple outgrew the PC market in each of the geographic regions it does business. Growth was particularly strong in the Asia Pacific region, where Mac sales grew 58 percent.

    On the retail front, Apple’s 361 stores brought in US$6.1 billion in revenue for the quarter, up from US$3.85 billion last year. The stores reported strong year-over-year growth across all product lines—Apple sold 1.1 million Macs through its retail stores, for example, with half of those going to customers new to the platform. Average store revenue rose from US$12 million last year to US$17.1 million.

    Apple says 110 million people visited its stores during the holiday quarter, an increase of 45 percent from last year. That works out to a weekly average of 22,000 visitors per store. Oppenheimer credited two initiatives—Apple’s EasyPay self-checkout process and Personal Pickup, where customers shop online and pick up products at the store of their choice.

    Apple opened four stores during the quarter—one in New York’s Grand Central station and the other three in Europe. Oppenheimer usually provides an estimate of planned store openings for the coming quarter, but that was absent this time around. In September, Apple said it would open 40 new stores in 2012 with three-quarters of those slated for outside the
    U.S.

    Apple ended its first quarter with US$97.6 billion in cash, up from US$81.6 billion at the end of the September quarter. Oppenheimer said that Apple was “actively discussing uses of our cash balance,” but added that there was nothing to share at this time.

    Looking ahead to the second quarter ending in March, Oppenheimer told analysts to expect $32.5 billion in revenue and earnings per share of US$8.50. That compares to revenue of US$24.67 billion and earnings of US$6.40 a share in the 2011 second quarter. Analysts are looking for earnings of US$8.03 a share on sales of US$32.04 billion.

    Stay tuned for additional details as they become available.

  • Apple to release Q1 financial results on January 18, 2011

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    Apple has revealed that it will publish the financial results of its first fiscal quarter of 2011 on Tuesday, January 18, with a conference call to discuss the results following immediately after.

    Per AppleInsider, the news was posted to Apple’s investor website along with the notice that a link to the conference call webcast “will be provided at a later date.” Apple will make the results public at 5:00 p.m. Eastern time, 2:00 p.m. Pacific, following the close of the stock market.

    The results, which will include the holiday season, are largely expected to be record-breaking.

    Apple’s fourth fiscal quarter of 2010 results impressed Wall Street analysts, though limited supply of the iPad resulted in disappointing sales figures for the tablet device. The company’s profits soared 70% year-over-year to $4.31 billion, driven by record sales of iPhones, Macs and iPads.

    The iPhone maker projected in October that it will earn US$23 billion in revenue and post diluted earnings per share of about US$4.80 for the upcoming first fiscal quarter.

    Analyst Shaw Wu of Kaufman Bros. predicts that Apple will sell 4.2 million Macs, 6.1 million iPads, 16 million iPhones and 17 million iPods in its first fiscal quarter of 2011.

    Stay tuned on the 18th for additional details as they become available.