Apple today announced financial results for its fiscal 2011 fourth quarter ended September 24, 2011. The Company 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 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.
The Company sold 17.07 million iPhones in the quarter, representing 21 percent unit growth over the year-ago quarter. Apple sold 11.12 million iPads during the quarter, a 166 percent unit increase over the year-ago quarter. The Company sold 4.89 million Macs during the quarter, a 26 percent unit increase over the year-ago quarter. Apple sold 6.62 million iPods, a 27 percent 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, in the press release. “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.”
MacDailyNews Take: Analysts’ consensus estimates called for $29.69 billion in revenue and $7.39 EPS.
First AAPL EPS miss since 2004. Expect the bears to jump all over this “miss” in Street expectations, while never mentioning the record revenue or that Apple did significantly better than Apple themselves guided. They will say “it’s all over because Steve is dead,” that not enough iPhones were sold (while ignoring that most expected a new iPhone in the fall), and anything and everything else they can dream up to beat down the shares. In other words, expect an “AAPL sale.”
In the year-ago quarter, Q410, Apple posted then-record revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share.
In a rather amazing turn of events, Apple actually forecast above Street expectations, so there’s a little something for the bulls, at least.
Update, 4:42pm ET: AAPL down -$24.24, or -5.74% to $398.00 in after-hours trading.
Update: 4:53pm ET: AAPL down -$26.44, or -6.26%, to $395.80.
It’s been downhill since canceling the Performa line in 1997…
SIDAGTMBTTS
Just kidding lol
It’s ONLY a miss if you miss your announced numbers. It’s not a MISS if you exceed your announced numbers for the next quarter. All this proves is that the analysts who are getting PAID to accurate predict the numbers DO NOT KNOW WHAT THEY ARE DOING. Whether they GUESS low or high is not relevant, it’s about their OWN FAILURE to NOT know the business they are paid for.
I bet Mickey is running around, ” I told you so, I told you so ” LOL
Too bad, so sad…
Apple stock will fall like a rock.
The markets work in very strange ways – irrational actually – which is why we have ended up in the current world situation and nobody knows why; where all the money went; or how to solve the problem.
Logically, one might suppose that the total wealth existing before the crash is still there, somewhere, and could be returned to use at any point…. My head hurts now…
This is expected with ANALyst. They do nothing but twiddle their thumbs and hoping for a huge drop in stock value when their guestimate pans out. They are not panicking, its a opportunity for their friends (customer) to buy low and they will buy because they know this company will continue to succeed. The stocks will go right back up even higher. Profit. Seems kinda weird doesn’t it.
A temporary usual dip. Business as usual… It was eventually going to happen that the bullshit numbers weren’t going to add up for wall street. Then again look how wonderfully they are doing with everyone’s money.
BUY! BUY! BUY!
This is fantastic news for anyone wanting to strengthen their position in AAPL.
seemingly lost in the conversation thus far is any meaningful financial analysis.
analysts somehow believed that iPod sales would continue growing year-over-year without the iPhone robbing sales. and of course iPhone sales slowed dramatically as would-be buyers waited for the new 4S to be unveiled — a predictable phone sales lull for the qtr.
Let’s get real, folks. In this economy, even the strongest locomotive slows down. Moral of the story: reset your expectations, analysts. Apple is still the strongest best on the market, but it’s not infallible.
Apple didn’t miss the Street. The Street’s expectations were too high, despite the fact Apple’s actual results ended up being higher than Apple’s previous outlook.
only $28.27BILLION in revenue??? WTF?? I’m disappointed Apple. That’s the pocket change that fell in between the couch cushions. I have that much in my parking meter stash!!!!
Someone please help me remember. Wasn’t Dell recently valued at only $31.83 billion (whereas Apple was valued at over $381 billion)??? You’re telling me Apple had quarterly revenue at nearly the market value of your company (Mikey Dell) and is expected to do BETTER next quarter? The can o’ ass whoopin just keeps gettin bigger!!!!