Apple tops $100bn annual earnings for the first time. Final quarter figures disappoint analysts
Despite record results in the final quarter and record revenues for the fiscal year, Apple’s announcement this evening falls below analysts expectations.¹ However, revenues for the quarter, at $28.3bn were comfortably ahead of Apple’s own, notoriously conservative, estimate of $25bn. Revenues for the full fiscal year topped $100bn for the first time (£108bn) and net profit was $26bn.
Gross margins in the final quarter grew to just over 40 percent compared with 36.9 percent in the same period last year. International sales accounted for 63 percent of revenues in the quarter.
iPhone sales at 17.07m showed a 21 percent unit growth over the same quarter last year. At the same time, iPad sales soared 166 percent to 11.12m, Mac sales rose 25 percent to 4.89 million. Only iPods let the side down, as expected, continuing their decline by a 27 percent reduction on last year with sales of 6.62m.
The well-publicised advent of a new iPhone, right after the end of the financial year, undoubtedly depressed phone sales in the final quarter. But the phenomenal success of the iPhone 4S has taken place in the current quarter and will be reflected in figures at the end of the calendar year.
¹ Wall Street’s consensus estimates were a revenue of $29.5bn and earnings per share $7.3. Apple estimated £25bn and $5.50 but achieved $28.27bn and $7.05.