/// Apple Scores Another Beat

October 28, 2013  |  All Things Digital

Back in September, Apple said it expected revenue and gross margins for its fourth quarter to fall “near the high end” of the range it had previously provided — $34 billion to $37 billion, and 36 percent to 37 percent. Today, it delivered on that promise. Posting fourth-quarter financials after market close Monday, Apple reported earnings per share of $8.26 on revenue of $37.5 billion. That’s well above the $7.92 on revenue of $36.82 billion analysts had predicted, and at the higher end of Apple’s own range of guidance for the period, though it was down on a per-share basis from $8.22 billion, or $8.67 a share, a year earlier. Apple said its gross margins were 37 percent, right in line with expectations. Apple said it sold 33.8 million iPhones for the quarter, 14.1 million iPads, 4.6 million Macs. Analysts were expecting iPhone sales of 33.4 million units, iPad sales of 13.9 million units and Mac sales of about 4.2 million units. Apple declared a cash dividend of $3.05 per share payable on November 14, 2013, to shareholders of record as of the close of business on November 11, 2013. “We’re pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones,” CEO Tim Cook said in an earnings release. Apple’s guidance for next quarter, perhaps the most closely watched data point of all today: Revenue of between $55 billion and $58 billion, and gross margins of 36.5 percent to 37 percent

Read more here:
Apple Scores Another Beat

Leave a Reply

You must be logged in to post a comment.