Apple Q4 Earnings miss Analyst's Estimates and Stock drops 5% in After Hour Trading

Apple announced financial results for its fiscal 2011 fourth quarter ended September 24, 2011 after the market closed yesterday. Apple posted quarterly revenue of $28.27 billion and quarterly net profit of $6.62 billion, or $7.05 per diluted share. These results compare to revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share, in the year-ago quarter. Gross margin was 40.3% compared to 36.9% in the year-ago quarter. International sales accounted for 63% of the quarter’s revenue.

These numbers are great, but analyst's saw net profits to be $7.22 per diluted share. The AAPL stock tanked in after hour trading about 5%. It traded last at $394.05. At market close the AAPL stock was at $422.22. I own Apple stock and I am not getting nervous. The Holiday quarter will be enormous for Apple. iPhone 4S and iPad sales will go through the roof. Apple already sold significantly more products across categories compared to last year. Only the iPod continues its sales decline.

Apple sold 17.07 million iPhones in the quarter, representing 21% unit growth over the year-ago quarter. Apple sold 11.12 million iPads during the quarter, a 166% unit increase over the year-ago quarter. The Company sold 4.89 million Macs during the quarter, a 26% unit increase over the year-ago quarter. Apple sold 6.62 million iPods, a 27% unit decline from the year-ago quarter.

“We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,” said Tim Cook, Apple’s CEO. “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.” 

“We are extremely pleased with our record September quarter revenue and earnings and with cash generation of $5.4 billion during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about $37 billion and we expect diluted earnings per share of about $9.30.” 

Updates

Apple CEO gives up $75 million in dividends

Source: San Francisco Chronicle

Paul Sakuma / Associated Press One of the highest-paid CEOs in the country, Tim Cook has asked that he not receive stock dividends. New York -- Apple CEO Tim Cook is giving up $75 million in dividends on restricted stock ...
Full article at: San Francisco Chronicle  More like this  1 hour ago

First Mobile Screenwriting App for iOS to Launch Major Update

Source: Beaumont Enterprise

After 2 years of development, the much awaited follow up to the popular Scripts Pro screenwriting app for iOS is prepared for launch. The major update will be released in the Apple App Store this week. Sc ...
Full article at: Beaumont Enterprise  More like this  1 hour ago

Nest Learning Thermostat available in Apple stores soon?

Source: Electronista

Company founded by ex-Apple VP Tony Fadell Numerous reports claim that the Learning Thermostat from Nest will be available at Apple retail stores shortly. Nest is a company formed around developing and marketing the thermostat by Ap ...
Full article at: Electronista  More like this  1 hour ago

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