As planned, Apple today announced its financial results for Q4 2013. This is a quarter highlighted by iPhone 5s and iPhone 5c sales and is the quarter preceding the launches of several new Macs and the new iPads:
Update: The analysts were right to be optimistic, but not optimistic enough
As we wait for Apple to announce its Q4 results in this afternoon’s earnings call, more than half of the analysts included in Fortune’s survey expect the company to beat its high-end guidance of $37B. The average is driven up by the amateurs, who come in at $37.38B, while the professionals expect just a touch under the top end at $36.95B.
Predictions on both revenues and earnings do vary markedly, however. While the consensus view is that year-on-year revenues will be up 3 percent and earnings down 6 percent, even among the professionals the earnings estimates span a 15 percent range.
Top: FBN’s Shelby Seyrafi: $39.18 billion (up 9% year over year)
Bottom: Cantor Fitzgerald’s Brian White: $34.57 billion (down 4%)
Apple beating its own guidance wouldn’t have been remarkable in the days when Apple gave absurdly pessimistic guidance and then blew it away, but would be impressive since Cook started offering realistic ranges … Read more
According to data from App Annie’s latest download and revenue report, Google Play for the first time surpassed the App Store in app downloads during the second quarter of 2013. While Google was able to move past Apple with about 10 percent more downloads during the three month period, the report notes the App Store brought in nearly 2.3x the amount of revenue.
App Annie says that Google Play’s growth was driven by emerging markets including Brazil, India, and Russia, and while the App Store still leads by revenue, Google Play closed the gap slightly compared to last quarter and years past.
Google Play saw Brazil climb two spots to join India and Russia as another emerging market in the top 5 countries by downloads for Q2 2013…The United States, Japan and United Kingdom remained the leaders in the iOS App Store when looking at revenue generation, and Australia climbed to #4 after a strong Q2. iOS App Store revenue was driven primarily by the United States and Japan, which combined to account for about half of the total iOS App Store revenue in Q2.
App Annie’s report also includes its Games Index tracking mobile games on iOS and Android, which now account for around 40 percent of all downloads on both platforms. During Q2, Gameloft’s Despicable Me: Minion Rush grabbed the top spot for most downloaded iOS game, while publisher Tiny Piece took the honour on Google Play.
As for non-gaming apps, Vine increased by three positions to become the most downloaded app during the quarter on iOS, followed closely by YouTube, Snapchat, and Instagram. Read more
Following Apple’s announcement of its Q2 2013 earnings and new cash program, the company is hosting an earnings call to discuss the results. The company’s CEO and CFO, Tim Cook and Peter Oppenheimer, also typically stick around for a question and answer session. We’ll be live blogging the proceedings after the break (Image via AP):
As planned, Apple has announced its Q2 2013 earnings results.
Apple® today announced financial results for its fiscal 2013 second quarter ended March 30, 2013. The Company posted quarterly revenue of $43.6 billion and quarterly net profit of $9.5 billion, or $10.09 per diluted share. These results compare to revenue of $39.2 billion and net profit of $11.6 billion, or $12.30 per diluted share, in the year-ago quarter. Gross margin was 37.5 percent compared to 47.4 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
The Company sold 37.4 million iPhones in the quarter, compared to 35.1 million in the year-ago quarter. Apple also sold 19.5 million iPads during the quarter, compared to 11.8 million in the year-ago quarter. The Company sold just under 4 million Macs, compared to 4 million in the year-ago quarter.
Apple reported revenues for Q2 of $43.6 billion, which beats Apple’s estimates for the quarter of between $41 and $43 billion. This revenue compares to a revenue of $39.2 billion in the year-ago Q2. Apple also reported net profit of $9.5 billion, or $10.09 per diluted share
Apple sold 37.4 million iPhones, 19.5 million iPads, just under 4 million Macs, and 5.6 million iPods. This compares to 35.1 million iPhones, 11.8 million iPads, and 4 million Macs, sold in the year-ago Q2 2012 quarter.
Apple CEO Tim Cook on the results:
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”
Apple CFO Peter Oppenheimer as well:
“Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion,” said Peter Oppenheimer, Apple’s CFO.
Apple’s guidance for next quarter (Q3 2013) is revenue between $33.5 billion and $35.5 billion
Apple will hold a conference call regarding today’s announcement. We will have live coverage at 5 PM EST/ 2 PM PST.
Here’s Apple’s press release announcement: