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.
- 15 Non-Certified IT Skills Growing in Demand
- How 19 Tech Titans Target Healthcare
- Twitter Suffering From Growing Pains (and Facebook Comparisons)
- Agile Comes to Data Integration
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- HP HAVEn: See the big picture in Big Data HP HAVEn is the industry's first comprehensive, scalable, open, and secure platform for Big Data. Enterprises are drowning in a sea of data...
- Piecing Together the Business Intelligence Puzzle Business intelligence (BI) technology collects and analyzes company data, delivering relevant information to corporate decision-makers in an effort to produce favorable outcomes.
- Harness IT -- An Introduction to Business Intelligence Solutions Learn the key selection criteria required to provide your organization with the capability to address structured data, unstructured data and mobile demands so...
- Business Intelligence Shows its Smarts Today's Business Intelligence (BI) tools provide a new way to think about data with self-service capabilities and user-friendly analytics that can be used...
- Cloud Knowledge Vault Learn how your organization can benefit from the scalability, flexibility, and performance that the cloud offers through the short videos and other resources...
- Testimonial: Cystic Fibrosis Trust Peter Hawkins, the Head of IT for Cystic Fibrosis Trust, discusses the role CommVault's Simpana software platform plays in improving the company's information... All Data Center White Papers | Webcasts