Apple squeaks over revenue estimates, misses earnings target

Mac sales stall


Apple reported revenues in its fourth fiscal quarter that topped the Wall Street moneymen's predictions – but only barely. Its earnings per share, however, came in lower than most predictions.

Cupertino posted quarterly revenue of $36bn, which resulted in a quarterly earnings-per-share (EPS) of $8.67.

According to the 47 analysts that Yahoo! Finance surveyed, Apple was expected to post revenues of $35.8bn, with the low estimate being $34.28bn and the high, $38.04bn. The all-important EPS projection, however, was $8.75, with a low of $8.00 and a high of $9.68.

The just-end quarter's figures, however, are a solid step up from the same quarter last year, when Apple disappointed the Wall Street moneymen by reporting an EPS of $7.05 per share with revenues of $28.27bn. At that time, analysts polled by Fortune and Citigroup had hoped for an EPS of between $8.14 and $8.88 – although Thompson Reuter's estimate had comparatively lowballed Apple at $7.28.

Last quarter's earning were a disappointment as well, with Apple reporting an EPS of $9.32 and revenues of $35.02bn for the quarter that ended in June. The Street had expected better, with estimates as high as an EPS of $10.37 and revenues of $37.18bn.

Apple released the iPhone 5 on September 12. The fourth quarter of its fiscal 2012 ended on September 29, so Thursday's financial figures included just over two weeks sales of Apple's biggest revenue generator.

Shortly after the iPhone 5 went on sale, Cupertino reported that sales had topped five million in its first weekend, a number that disappointed some analysts, who had predicted first-weekend sales as high as eight to 10 million.

During the just-ended quarter, Apple sold 26.9 million iPhones, up 58 per cent over the year-ago quarter. It also sold 14 million iPads during the quarter, up 26 per cent over the same period last year, and 4.9 million Macs, essentially flat at a 1 per cent increase.

CEO Tim Cook believes his company is well-positioned for the holiday shoioppnig frenzy that's about to begin. "We're very proud to end a fantastic fiscal year with record September quarter results," he said in a statement. "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."

Apple's shares took a quick drop of over 1 per cent on the news. ®

Similar topics


Other stories you might like

  • Prisons transcribe private phone calls with inmates using speech-to-text AI

    Plus: A drug designed by machine learning algorithms to treat liver disease reaches human clinical trials and more

    In brief Prisons around the US are installing AI speech-to-text models to automatically transcribe conversations with inmates during their phone calls.

    A series of contracts and emails from eight different states revealed how Verus, an AI application developed by LEO Technologies and based on a speech-to-text system offered by Amazon, was used to eavesdrop on prisoners’ phone calls.

    In a sales pitch, LEO’s CEO James Sexton told officials working for a jail in Cook County, Illinois, that one of its customers in Calhoun County, Alabama, uses the software to protect prisons from getting sued, according to an investigation by the Thomson Reuters Foundation.

    Continue reading
  • Battlefield 2042: Please don't be the death knell of the franchise, please don't be the death knell of the franchise

    Another terrible launch, but DICE is already working on improvements

    The RPG Greetings, traveller, and welcome back to The Register Plays Games, our monthly gaming column. Since the last edition on New World, we hit level cap and the "endgame". Around this time, item duping exploits became rife and every attempt Amazon Games made to fix it just broke something else. The post-level 60 "watermark" system for gear drops is also infuriating and tedious, but not something we were able to address in the column. So bear these things in mind if you were ever tempted. On that note, it's time to look at another newly released shit show – Battlefield 2042.

    I wanted to love Battlefield 2042, I really did. After the bum note of the first-person shooter (FPS) franchise's return to Second World War theatres with Battlefield V (2018), I stupidly assumed the next entry from EA-owned Swedish developer DICE would be a return to form. I was wrong.

    The multiplayer military FPS market is dominated by two forces: Activision's Call of Duty (COD) series and EA's Battlefield. Fans of each franchise are loyal to the point of zealotry with little crossover between player bases. Here's where I stand: COD jumped the shark with Modern Warfare 2 in 2009. It's flip-flopped from WW2 to present-day combat and back again, tried sci-fi, and even the Battle Royale trend with the free-to-play Call of Duty: Warzone (2020), which has been thoroughly ruined by hackers and developer inaction.

    Continue reading
  • American diplomats' iPhones reportedly compromised by NSO Group intrusion software

    Reuters claims nine State Department employees outside the US had their devices hacked

    The Apple iPhones of at least nine US State Department officials were compromised by an unidentified entity using NSO Group's Pegasus spyware, according to a report published Friday by Reuters.

    NSO Group in an email to The Register said it has blocked an unnamed customers' access to its system upon receiving an inquiry about the incident but has yet to confirm whether its software was involved.

    "Once the inquiry was received, and before any investigation under our compliance policy, we have decided to immediately terminate relevant customers’ access to the system, due to the severity of the allegations," an NSO spokesperson told The Register in an email. "To this point, we haven’t received any information nor the phone numbers, nor any indication that NSO’s tools were used in this case."

    Continue reading

Biting the hand that feeds IT © 1998–2021