Apple today announced financial results for its fiscal 2012 third quarter ended June 30, 2012. The Company posted quarterly revenue of $35.0 billion and quarterly net profit of $8.8 billion, or $9.32 per diluted share. These results compare to revenue of $28.6 billion and net profit of $7.3 billion, or $7.79 per diluted share, in the year-ago quarter. Gross margin was 42.8 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
The Company sold 26.0 million iPhones in the quarter, representing 28 percent unit growth over the year-ago quarter. Apple sold 17.0 million iPads during the quarter, an 84 percent unit increase over the year-ago quarter. The Company sold 4.0 million Macs during the quarter, a two percent unit increase over the year-ago quarter. Apple sold 6.8 million iPods, a 10 percent unit decline from the year-ago quarter.
Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock. The dividend is payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012.
“We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO, in the press release. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”
“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO, in the press release. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.”
Analysts’ consensus estimates had called for Apple to report Q312 earnings of $10.35 a share on revenue of $37.2 billion, according to Thomson Reuters I/B/E/S.
On April 24, 2012, Apple CFO Peter Oppenheimer provided Q312 guidance of “diluted earnings per share of about $8.68″ on “revenue of about $34 billion.”
MacDailyNews Note: MacDailyNews will provide live notes from Apple’s Q312 Conference Call starting at 5pm EDT today, July 24.
Apple’s guidance is getting more accurate. Perhaps the analysts ought to listen?
Ouch…not my first words but the only one that’s printable..
49.8 million iOS devices. For the second quarter in a row Windows 45 million licenses puts it in second place.
Buying opportunity!!! 🙂 Already down $32+ in after hours…
Looks like a buying opportunity for Apple stock quickly developing…
Whoops! I want my Newton !
Ouch!
So, they beat their own guidance, and for that they have to tank.
That’s not what drives the stock. It’s the stock market. Try to pay attention to what goes on in the stock market. If you did you’d know that their numbers are not the ones that count. The stock market isn’t about fanboys. It’s about investing and you have to be knowledgeable or you can lose your ass.
Yes. Knowledgable people know that imaginary guesses are more important thn the actual results, which beat Apple’s guidance. SHOCK! HORROR!
The actual headline should be “Analysts Get Apple Wrong for the Last 40 quarters”.
Yes in some ways you’re correct. The street numbers are what drives the stock. Since you should understand that why would you complain? If you knew anything you wouldn’t.
Thank you for illustrating what the stock market really is, a vegas like scheme where rich people make up numbers and bet against each other ruining many lives in the process.
Don’t tell me how it is, tell me why it is, because rational data driven people do not comprehend. Apple releases guidance, “we expect the numbers to look like this” Some bozos say, no I don’t like that number, doesn’t make me enough money so I’m going to issue my own numbers, and when these numbers (pulled from ass) do not come true (despite Apples numbers being on the mark) I am disappointed? WTF? There is a reason I do not willingly play in this space..
Never trust a lawyer, a stock Broker, A banker, a politician, who am I missing??
your mom.
+1
No one said life is fair. I understand your point about the Vegas comparison. That’s not a bad analogy. But why are you complaining? If you lost some money that’s just investing. You can make it back. Or not. You either understand how the stock market works or you should not be involved. But if you’re just complaining to be complaining that makes no sense. Apple will be fine they don’t need your sympathy or your rants. And if you understand that all of these different professions are untrustworthy you shouldn’t have any reason to complain. Because you should be way ahead of the game. I hope you didn’t lose the rent money.
I think people get riled by this stuff because the effects are NOT limited to the people that play the market.
Some moron makes up some figures that have no basis in reality, then a company who has fantastic year over year growth has it’s stock tank because it failed to succeed as wildly as the aforementioned moron wanted. Now Where do you think all that lost money is going to come from? Eventually it will come out of our economy. The same economy that is struggling to fix itself after similarly irresponsible business practices nearly put the whole country out of business.
It’s not a case of ‘if you can’t stand the heat stay out of the kitchen’, it’s more like ‘the whole country just wants a PB&J and the cook is smoking crystal meth.
You don’t have to play the market to lose when others make STUPID bets.
The money simply gets moved from one person to another. It doesn’t go away. Also, if Apple had better numbers this quarter would you still be complaining about the “figures that have no basis in reality?” I think not. So you can’t have it both ways. It’s not manipulation. It’s not some big conspiracy. It’s just the stock market. And it’s obvious you know little about it other than being a fanboy.
‘Never trust a lawyer, a stock Broker, A banker,
who am I missing??’
The mighty ‘O’.
Oprah?
I have to agree that analysts should not make up their own numbers because it makes no sense at all. They clearly do not understand what is going on with the company. If that’s the case, they don’t need Apple at all and they should just start some “guess the number” lottery. Whoever’s closest to the number they guess, wins.
Yes, His Shadow is correct. Casino Capitalism drives the market. There’s an old video interview were Steve Jobs was asked about the gyrations of Apple’s Stock Price. He threw his hands up in the air, waved them and exclaimed, “I totally don’t get it; makes no sense” and dismissed the question.
But in the video link below Steve addresses the bigger question and gives us some stock advice, (which he followed himself).
Well worth 6 minutes of your time.
They should’ve launched the iPhone 5 this summer instead of waiting so long in face of the Android 4G onslaught. It also would’ve made the iPhone launch cycle more unpredictable.
They should launch the iPhone 5 when it’s ready to launch and not rush it to market like the Android 4G devices which devour batteries and have all sorts of other issues.
And what are the major issues that make the Samsung Galaxy S3 seem rushed? The battery life is longer than the iPhone 4S.
Got to use — well, tried to use — a Galaxy S3, and… I’m not too worried about Apple. I hadn’t used Android in a few years, but people kept saying, “It’s so much better than 2010.” So, I wondered what all the hype was about. I haven’t figured it out, as the GS3 was harder to use than a 2010-era Droid. I don’t get it; I think people just buy Androids b/c they’re cheap. Cheap phones where you have to run virus scan — that’s a market Apple doesn’t care about.
Idiot. The Android 4G onslaught is only happening in North America.
Apple’s telco partners are BOGOing those crappy Androids out the door like they are 2 years past their due date.
That 4G onslaught is helping Samsung make a few bucks but bankrupting everyone else.
Let’s see, do I want 75% of the profits or do I want to increase market share while losing money?
Decisions, decisions.
Is that 75% of profits number growing of shrinking is the question. Market share is important also. One or Two features makes the difference. If Iphone had only 5% more of androids market, this quarter would be better. People want a bigger screen, so they get Android. Android users don’t know the Apple iOS and wont. Apple is playing catch up there. So now Iphone 5 will be bigger and all the fanboys that say the current size is perfect will change their mind and say the bigger phone is brilliant! Mark my words, and it will make a difference. Also, walked into Best Buy to see the Samsung “Smart TV” which had all of the features I’ve heard Apple TV will have. I know I know, we need the Apple OS, but the average person can’t compare now, and will think Smart TV is just fine. It just feels like Apples roll-out is a little slow these days, and one-size does not fit all. Android is an onslaught, so Just saying, the competition is fierce. That is what wall street watches.
They should have launched the iPhone at the same time they traditionally do AND they should be more unpredictable with the launches of new iPhones?
Did you even process your stupid thoughts before sharing them?
Realist me: Had to happen eventually (missing unrealistic analyst expectations).
Investor me: frak, losing money on paper *again*. And no I don’t have spare money to take advantage of this buying opportunity (buying 1 or 2 shares is pretty damn pointless).
Ouch! Hey, it’s not like it wasn’t predicted. So much for “the analyst don’t know their ass from a hole in the ground”. I’ll be buying tomorrow morning that’s for certain. Great opportunity with the stuff coming up in the future it’s a no-brainer.
The analysts don’t know their ass from a hole in the ground. They kept predicting based off of Apple’s conservative projections, and for once in several years they were right because Apple didn’t blow their own projections out of the water.
Still way better than Microsoft or Dell.
Here let me get you a crying towel. Damn! So they’re correct and you’re mad at them? Think about what you just said. Apple did not have a spectacular quarter. It’s not the end of the world. It was predicted by most analysts. Rather than cry and whine about it just buy some stock or better yet options tomorrow morning. This is a gift. Quit blaming everyone else and face the facts. Buying opportunity!
So your idea of a “spectacular quarter” is whatever anyone with the self-imposed title of analyst pulls out of their ass on any given day on any friggin’ whim that comes to them? You’re as full of shit and full of yourself as they are.
So let’s see if I’ve got this right, you’re pissed because the analysts called it correctly? Well you make fun of them but they called it correctly. So it looks more like you have your head up your ass. You’re just a pissed off fanboy. Go back to mom’s basement and play some games. Investing is no place for fanboys. Quit crying for Apple. It’s fucking embarrassing.
+100
No, I’m pissed at arrogant little fucks like you who think the world revolves around your ass. What’s embarrassing is that bootlicker “Weekend” who wants to give you a knob job.
Gosh he doesn’t seem arrogant just sensible. You on the other hand seem like a whining fanboy. Suck my cock.
Seriously? You want another guy to do that? Sorry, that’s not how I roll. Anyway, can’t we all just get along and agree that “GM” is just a Mitt Romney wannabe?
In my opinion, things are only going to get worse. I’m not talking about Apple in particular, but the market in general. Technically speaking, the DJIA has put in what market technicians would call a “picture perfect” head and shoulders pattern. Many would say that’s a pretty good indicator that the door is almost closed on the bear market rally that started back in March 2009. Time will tell.
I agree with you. I think people are drastically under estimating impact of Europe crises and China’s slowdown.
iPhone slowdown expected. Watch analysts invent additional problems to further drive the price lower, then alas, they continue to grow. Buy low sell high, repeat.
iPhone slowdown only until Apple gets China fully opened up. Then iPhone explosion, especially if a vastly revised iPhone model is released.
C’mon, not more conspiracy theories. Geez it never ends. It’s quarterly earnings and it comes four times a year. There’s always anxiety surrounding Apple’s quarterly earnings more than other companies. But it’s not a conspiracy. You should do like most of us, buy when it’s down. Apple isn’t your best buddy. We’re talking about investing. Apple is just a company that you invest in. Unless you absolutely don’t know anything you should’ve been making a lot of money on Apple in the last seven or eight years. You are correct it is about buying low and selling higher. That’s basic investing. But don’t get your feelings hurt as though Apple is your best buddy. They don’t know you and they don’t care what happens to you. They’re just a company trying to make money. Just like all the other companies out there. They just make great stuff.
You’re right, it isn’t a conspiracy.
Stock manipulation is actually quite out in the open.
Well since you know all this I’m certain that you won’t lose any money. Right?
So Tim and Peter do their jobs and exceed their guidance. The analysts didn’t do their job and were way way off. Can’t we start buying/selling stock in analysts? It would teach me how to buy puts!
If you include all the sales poached by Hamstrung, then I’d say they not only met but exceeded everyone’s forecasts…
It’s not just the iPhone that’s slowing things down…
1) iMacs are in need of a refresh.
2) Mac Pro is in need of a refresh.
3) Macbook Pro “Classics” are in need of a refresh
(Save for the 15 inch Macbook Retina Model that just launched)
4) iPod Touch is in need of a refresh.
Save for the new iPad and Macbook Pro Retina Display, Apple’s product line is looking stale at this point.
Did you not read the numbers. There was YOY growth in every segment. That is not a slowdown. It is simply less acceleration than Wall Street wanted to see. I’ve seen too many good companies destroyed by catering to what Wall Street expectations to care that Apple didn’t meet them. Apple is strong and growing stronger. That is the reality. The Analysts can go F themselves.
Apple’s managed to Osbourne itself with the iPhone… and the iMac and the Mac Pro….
Who are you kidding?
I agree.
apple seems to be too slow in their refreshes and indifferent to the opportunity in increasing their mac sales (to take advantage of the halo effect and people’s increasing dislike for Windows).
the Mac Pro not getting a serious refresh for example until late next year is crazy.
I haven’t seen a Mac desktop ad on TV in my area for years now ever since the Mac vs PC guy ads. Seems like apple lost interest in it.
apple shouldn’t leave hanging fruit like Mac sales and just concentrate on iPhones , Ipads because if iPhone sales for example didn’t do so well this quarter their financials will dissapoint.
surely a company wiith billions in earnings can get teams to work on their other products? YEARS for a serious Mac Pro refresh is nuts.
Excellent points. You’ll probably be called names for pointing out the obvious. Truth doesn’t always sit well here!
Oh He’ll be called names.. but he’s right. A few percentage points makes a lot of difference. The refresh on products seems slow, and not that big a jump… Apple has dissed the entire PRO field of every market. I know many pro’s who have HAD to leave apple. Final Cut Pro X? Server? Mac Pro? Seemingly no interest in the pro graphics world or audio anymore.. the people who MADE Apple. No inroads to business apps or process, (quickbooks accounting is a nightmare) Why not be the best in ALL of those fields? it’s not like they don’t have the cash… They could BUY each of the market leaders in all those areas. So the fanboys are rooting for a phone now. It’s seems so silly. I cant even give much credit to the new macbook pro. I was underwhelmed for the $3k price with tax, $3800 if you ‘go large’… Yup, for a laptop. No 17″? dissing the pros again. A smaller, 20 percent instantly noticeably dimmer screen did not thrill me. (3-2-1 Squinters unite, I can take it)… Hey, that’s one way to increase battery life… I don’t see the thrill in challenging my ability to make out the worlds smallest font size. Some of Apples “BEST” qualities have to become more perceivable. Maybe apple is perfectly happy being a mobile gadget company. cool. Remember, It’s only a stock.
I can speak personally to the professional audio/video arena and you’re correct, Apple does seem to be leaving it behind. Sure they’re coming out with a new Mac Pro but it’s very late. But hey, they’re a company designed to make money not friends. And are doing quite well at that thank you. They don’t really need the professional customer anymore. But they’ll throw a little effort to appease the professionals. The bottom line is that they make their money from the consumers not professionals. And the bottom line is what counts in business. Those kinds of opportunities open the door for other companies to aid professionals in their work. Perhaps someone will take advantage of the opening?
Apple’s a complete fail!! They totally missed my personal guess of $20 EPS which was totally baseless! Still they are a financial failure and your should sell Sell SELL!!!
I knew this would happen and was one of the few who voted so.
Too many over estimations by the street. They want a repeat of last quarter and they won’t get it. And they won’t get it next quarter. What we are going to have are two amazing Q1/4 quarters each year and less than stellar Q2/3 results… As long as they keep posting the new iPhone in the fall.
They get better sales in September, but better estimates when the iPhone goes out in June.
Does that sound right?
Pretty much. That’s why most investors know that it’s dangerous around earnings. You pays your money and you takes your chances. There are always some surprises. Sometimes good. Sometimes bad. But this was not really that much of a surprise. I do believe that they will change release times on different devices as we go forward so as to not be so predictable. Then there’s always the Apple iTV or whatever they’re going to call it. I believe, unlike many on the site, that it is coming.
Actually in this economy that is a very good quarter.
I am actually surprised that Mac sales are growing. I had a whole bunch of clients refuse to buy new Macs in the last several months.
Why? Because of the loss of Save As. (Businesses use lots of templates, and the auto save functions combined with the loss of Save As have really messed up my clients work flow.)
Still 4 million macs, 26 million iPhones, and 17 million iPads is nothing to sneeze at.
Yeah, Apple is messing up on Lion.
There is no way for me to upgrade to a system that has no Save As.
As an artist I use it all the time to save different stages of projects.
An absolute NO!
“Save As” is back in Mountain Lion as Command-Shift-Option-S. See here: http://www.cultofmac.com/173265/save-as-quietly-returns-to-os-x-in-mountain-lion-but-apples-still-being-stupid-about-it/
Well Save As is sort of back. A four key combination (about as uncomfortable to press as a pram reset).
My understanding is that when you choose to Save As, Mountain Lion still makes the changes to your template. So basically Save As has become new name, new location.
My clients would like – new name, new location without changing the original.
I wish Apple would fully restore Save As!
OMG!!!! NO Save As…!!!!!!!
Graphic Arts people made the Mac in the early days. Sure hope ALL THE “CREATIVES ” unite and e-Picket Apple until they bring Save As…back!
Personally I hate Auto-save,so while Apple’s at it, let us turn auto-save OFF as an option!
As you can see, being merely good is not good enough for Wall Street. If you’re not great, then you’re nothing but a fail. Apple’s quarter was not great and shareholders were handed a fail slip. On the other hand, Google easily beat its earnings with flying colors. Maybe Apple should be in the search and ad-click business because selling hardware clearly isn’t cutting it on a quarterly basis.
Best news ever!
This is perfect timing for me. I have some bonds maturing and was wondering where I was going to put the money. I hope they take AAPL down near $520 again so I can buy a few hundred more shares. This stock will break $700 by mid February in all likelihood. The only thing that could stop that from happening is a major macro-economic catastrophe.
“The only thing that could stop that from happening is a major macro-economic catastrophe.”
I’m afraid you called it, because Apple shareholders probably will never see $700.
I am absolutely giddy. As I posted here several times the pas couple of days, I took straddles on AAPL and I will reap the benefit tomorrow. i had said they would not meet analysts and stock would fall 6 to 10%. Bingo, it will be right there. All the polyanna boys here predicting boom time were not reading the tea leaves. Verizon…less sales…suppliers…lower orders. What more did you need to know. The market is cruel and swift. I not only held onto my shares but will see a net gain of 4 to 6% depending on just how far it tanks. Hope many of you did the same.
Nice buying opportunity is setting up …… The Street will bring down next quarter numbers and Apple will surprise BIG TIME and catch everyone off guard ……
For an example I bring your attention to Q4 2011 when Apple beat their numbers but not the Street Numbers ….. Stock sold off over the next two months ….. Then started a parabolic rise to $640+ and now here we are testing the $570 level ….. And record earnings the following two quarters …..
I suspect Apple will sell off over the next few weeks but once the Street gets a sniff of some solid new products, Apple will be off to the races, again setting new highs!
Apple would have beat estimates if any of the following 15 things happened:
1) iMacs were updated last quarter
2) official news of the next gen iPhone was released last quarter
3) the Mac Pro was updated last quarter
4) the long-tease Mountain Lion feature releases offered anything that interested computer users or improved productivity
5) Apple squashed rumors of the vaporware “Apple television”, which is the primary lid holding down AppleTV sales
6) Apple updated its iTunes store to be more user-friendly and less distracting, perhaps with a separate lightweight cloud-free media manager, iTunes Light
7) Apple released a solid update to iLife or iWork suites
8) Apple courted the professional industry rather than remaining aloof with poor improvements to FCP and pro audio software
9) Apple computers supported Blu-Ray discs
10) Apple wasn’t wasting so much time and energy pushing the MS-esque raincloud
11) Apple wasn’t blowing hundreds of billions of dollars on its overpaid executives who aren’t exactly keeping product release momentum going at the same pace Steve pushed.
12) Apple finished iOS 6 last quarter
13) iPods were updated last quarter
14) a new, expandable, mid-size tower computer was released last quarter
15) Apple’s stores (both online and B&M) did a better job showing business-friendly applications & accessories instead of cute but pointless juvenile apps and low-end junky replacement headphones.
People here are all whiny about US presidential leadership, but i’m more concerned that most industry, including Apple, is just coasting. I expect more from you, Mr. Cook. Especially on your salary.
In general, I agree with most of your points. Thank you for posting! I wish Apple would read it an implement the following this year:
1. Fully restore Save As – this has cost Apple business.
2. Update Mac Pro
3. Major update to iWorks (Numbers, Pages, Simple DB)
4. Greatly Enhance iMovie and iPhoto.
5. Update and enhance iWeb. (Very popular with clients)
6. Simplify and greatly enhance Aperture.
7. Blu-Ray discs for content creation – Mac is for creation.
7. iPods would sell far better with a 5 inch screen.
Mike, you really ARE an asshole, aren’t you! D’you really think Apple’s annual refresh cycles for things like iOS, iPods, iPhones, etc, are going to be altered just because some self-appointed know-it-all says they should?
Give me a break.
Oh, and what salary is it that you’re criticising? IIRC, Tim Cook takes a nominal salary, and you quite obviously missed the posting about how much better run Apple is than virtually any other global company, due to being in negative capital, ie Apple earns money on its products before it has to pay for the manufacturing costs.
That’s down to Tim Cook, the supply-stream genius Steve Jobs employed for just that talent.
@ Rorschach: i got to your insult and then stopped reading. if you want to have a conversation, then try again. if you can’t be civil, then find your own sandbox to piss in. oh, and investors seem to agree with me, so whatever points you want to make, by all means bring forth YOUR data.
Stock market 101 — If a company releases actuals that beat expectations of consensus forecasts, it’s considered good news… and visa versa. What will happen in the future is anybody’s guess. Nobody can predict the future. Human nature says that people buy and sell stocks for many many reasons. Why is one person willing to sell at a certain price, and why is the buyer willing to buy at that price, the variables of why this happens are impossible to predict — multiply this by billions of stock trades and you have a stock market effected by human behaviour buying/selling habits. An “efficient” market is supposed to take in all information available and take it into account when people make buy/sell decisions. Something is only worth what somebody is willing to pay (for whatever reason that may be). Some speculate the stock will rise, and others will think it will fall (for whatever reason). Apple Inc. will not do something to try and control something that is out of its control. It will also not compromise its products, or hasten the release date, to cater to the market. Apple releases products only when it’s good enough to market (and perhaps when it wants to spin the stock, at least to some extent). If your mother expected you to clean the entire house, but you only did part of it, she will be disappointed in you. If you do more than what is expected, then she will be happy with you. A basic example of human nature, but so too does the market react to a big extent. Grow up people.
You guys are so pathetic. Why do you rag on the analysts when Apple itself doesn’t guide to any degree of accuracy? Wow, they beat their pathetic sandbagged guidance! Why not guide an EPS of $0.01 and be happy when they blow it out? When internal guidance consistently gets best by about 50% it soon becomes a meaningless number to beat. What’s so hard to understand about that? If you believe Apple is guiding what they actually believe and are surprised every quarter please put down the crack pipe. If you believe Apple is just being conservative, fine – but you also have to expect that the analysts may also be conservative, and they come closer to the actual numbers. Apple missed, and they missed badly. End of story.
If you trade AAPL, be aware of what moves it. It is not unique in the fact that Street estimates are important. If you just like Apple products don’t worry about any of this as Apple will continue to make great products.
Long AAPL