Apple reports a record Q4, but stays below estimates.
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.
Don't Miss: Sam's Club Black Friday 2016 Details
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.”
Don't Miss: iPhone 8: Everything You Need to Know
“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.”