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Last Update: 19-Oct-11 09:30 ET
Apple Fourth Quarter Earnings Fall Short of Expectations; Guides Q1 Above Consensus
Apple (AAPL $422.24) reported fourth quarter earnings of $7.05 per share, which were $0.22 worse than the Capital IQ Consensus Estimate of $7.27.
Revenues rose 39.0% year/year to $28.27 billion versus the $29.28 bln consensus, 63% of rev from outside U.S.
For the first quarter, the company is expecting to see earnings of $9.30 per share versus the $8.97 Capital IQ Consensus Estimate. On the top line, Apple expects revenue to be $37.0 billion versus the $36.64 billion Capital IQ Consensus Estimate.
Fourth quarter gross margins of 40.3% versus Street estimates of 39.9% and 38.0% guidance; 17.07 million iPhones sold in Q4 vs Street est of ~21 million; 11.12 million iPads sold in the fourth quarter versus the Street estimate of approx. 12 million; reports 4.89 million Macs sold in vs Street est of approx.4.5 million.
"Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline."
Revenues rose 39.0% year/year to $28.27 billion versus the $29.28 bln consensus, 63% of rev from outside U.S.
For the first quarter, the company is expecting to see earnings of $9.30 per share versus the $8.97 Capital IQ Consensus Estimate. On the top line, Apple expects revenue to be $37.0 billion versus the $36.64 billion Capital IQ Consensus Estimate.
Fourth quarter gross margins of 40.3% versus Street estimates of 39.9% and 38.0% guidance; 17.07 million iPhones sold in Q4 vs Street est of ~21 million; 11.12 million iPads sold in the fourth quarter versus the Street estimate of approx. 12 million; reports 4.89 million Macs sold in vs Street est of approx.4.5 million.
"Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline."
