Join        Login             Stock Quote

Apple (AAPL) Revenue Lags Street, Sells 47.8M iPhones In 1Q

 January 23, 2013 04:42 PM

(By Balaseshan) Apple Inc. (NASDAQ: AAPL) reported quarterly earnings that exceeded market expectations. However, the technology giant, which declared a quarterly dividend of $2.65 a share, guided second-quarter revenue below market expectations, sending its shares down 4.93% in aftermarket.

Earnings per share (EPS) were $13.81 per share for the first quarter, compared with $13.87 per share in the year-ago quarter, exceeding Wall Street projections of $13.44 a share.

Revenue grew 17.7 percent to $54.51 billion, missing the consensus estimate of a 18.1 percent growth to $54.73 billion. International sales accounted for 61 percent of the quarter's revenue.

[Related -Fusion-IO, Inc. (FIO): Can Fusion-IO Q2 Results Cheer Street?]

The company's iPhone sales jumped 29 percent to 47.8 million units, yet came in below market expectations of 50 million units.

iPad sales surged 48 percent to 22.86 million units. Apple sold 4.0 million Macs, a 22 percent plunge over the year-ago quarter. iPod sales dropped 18 percent to 12.68 million units.

Gross margin declined to 38.6 percent from 44.7 percent in the year-ago period.

In the fourth quarter, Apple's EPS surged to $8.67 from $7.05. Net sales surged 27.2 percent to $35.97 billion. iPhone sales jumped 58 percent to 26.9 million units, and iPad sales surged 26 percent to 14.0 million units. Apple sold 4.9 million Macintosh computers, an increase of 1 percent from last year.

Apple's board declared a cash dividend of $2.65 per common share, payable on February 14 to shareholders of record as of February 11.

[Related -Google Inc (GOOG): Why Nest Labs Deal Is A Wakeup Call For Apple Inc.?]

Looking ahead into the second quarter, AAPL forecasts revenue of $41 billion to $43 billion, while analysts expect $45.63 billion. The company expects gross margin of 37.5 percent to 38.5 percent, operating expenses of $3.8 billion to $3.9 billion, and tax rate of 26 percent for the second quarter.

Apple's earnings have stumbled for the last two quarters and three of the last five. In each disappointing case, the stock lost ground in the days surrounding the announcement dropping 4.7%, 4.7%, and 3.8%, from last quarter back.

AAPL closed Wednesday's regular session up 1.86 percent at $514.17. The stock has been trading between $419.55 and $705.07 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.