Apple sells 27 million iPhones but misses profit forecast
Apple's earnings were up 23 percent from last year but still fell below Wall Street expectations
IDG News Service - Apple sold 27 million iPhones and 14 million iPads in the last quarter of 2012, swelling its revenue by 27 percent, but its profits fell short of what analysts had been expecting.
Apple's net profit for the quarter, ended Sept. 29, was US$8.2 billion, or $8.67 per share, up sharply from $6.6 billion, or $7.05 per share, in the same quarter a year earlier, the company announced Thursday. That was below the analyst forecast of $8.75 per share, according to a poll by Thomson Reuters. Revenue was $35.97 billion, up from $28.27 billion and slightly ahead of expectations.
Apple sold 58 percent more iPhones than in the same quarter last year, while iPad shipments were up 26 percent, it said.
Mac sales weren't so strong, growing 1 percent to 4.9 million units, while iPod sales continued to decline, falling to 5.3 million, as more people relied on their smartphones to listen to music.
Despite missing Wall Street's earnings forecast, the revenue and profit were Apple's highest yet, and it announced a dividend of $2.65 per share for its stockholders.
"We're very proud to end a fantastic fiscal year with record September quarter results," CEO Tim Cook said in a statement.
This was the fourth quarter of Apple's fiscal year. For the first quarter, it expects revenue of about $52 billion and earnings per share of $11.75, the company said. Those numbers are below the current analyst forecast, which calls for $54.98 billion in revenue and profit of $15.41 per share.
- Datacenter eGuide Read on to learn what technologies are essential for high-performing data centers today, and to get a glimpse of what the data center...
- Workload Change: The 70 Percent of Your Business DevOps Forgot Adding WLA early in the development process ensures that the benefits of DevOps accrue for all applications, including your batch services. This paper...
- Oracle EBS and RAC Performance & Elasticity on Vblock™ Systems VCE Vblock™ Systems provide simple, low-risk solutions for migrating from a physical to virtual environment.
- Backup and Recovery of Oracle EBS on VCE Vblock™ Systems This solution architecture describes the key features and benefits of backup and recovery in the virtualized Oracle EBS on Vblock Systems with EMC...
- The Key to Happiness: Throw out Your Data Warehouse In this webinar, Kerry Reitnauer, Director, Solution Architect at FairPoint Communications will discuss the challenges the data warehouse brought, how they migrated to...
- Building Tomorrow's Data Center with Converged Technologies A number of forces are converging: the cloud, converged infrastructure, big data and fabric architectures to name a few. All Data Center White Papers | Webcasts
Our new bimonthly Internet of Things newsletter helps you keep pace with the rapidly evolving technologies, trends and developments related to the IoT. Subscribe now and stay up to date!