Latest Apple Results are still stunning
On last nights audio podcast we talked about Apples up-coming financial results. Apples share price has dropped from its record highs of the mid $700 range to as of writing this article Apple share price had dropped to $398 ( the lowest in about 50 weeks). One of the key factors in this drop in share price was the built in expected financial results from Apple built around rumor and speculation of the fall off in iPhone sales.
Apple have just announced there results, and to me they still seem stunning ( I will check the share price at the end of writing this article).
So what are the results? Apple just posted its Q2 2013 earnings results and have announced profit of $9.5b off the back of $43.6b revenue. This compares to $11.6b profit off $39.2b revenue this quarter last year, and $13.1b in profit on $54.5b in revenue last quarter. This is a stunning result and guess what bang on what Apples guidance was.
From a product perspective there has been a shift in how the money is coming in the door. Here is a break down of the key products sold :
- 37.04 million iPhones sold in Q2 2013 vs 35.1 million same quarter last year (growth of %7).
- 19.5 million iPads sold in Q2 2013 vs 11.8 million same quarter last year ( growth of 65%).
- an important fact here is that the revenue per iPad is down on last year. The introduction of the iPad mini would be my guess as to why this has happened.
- 3.95 million Macs sold in Q2 2013 vs 4 million same quarter last year
- 5.6 million iPods sold in Q2 2013 vs 7.7 million same quarter last year
All up these numbers are amazing and exceeded a lot of the analysts and wall streets forecasting which had been forecasting lower returns to shareholders. Apple also announced one of the biggest share buy backs ever announced of $60 billion.
Tim Cook left the call by teasing people about an exciting new product line will be coming soon in the fall.
At the time of finishing this article Apples share price was up to $406.